There are many potential uses for blockchain technology, we've already seen it quickly make its way through the financial industry, the tech space, logistics and shipping, healthcare, real estate, cybersecurity, and even farming.
Blockchain technology is currently being used in this space, helping farmers to keep track of things like the ripeness of their crops, the color, flavor, sugar content, as well as environmental factors like air temperature, humidity, and light.
It's helping farmers to be able to keep better track of what they are growing, they can use the technology to track these variables step-by-step and this in-turn helps them to reduce waste. By having more control over these variables, they can also try to grow items that have a higher degree of quality and flavor.
One project that's been started by two professionals from the financial industry, Raja Ramachandran and Phil Harris, is seeking to use blockchain technology to enable data transparency in the agriculture industry, among other benefits. Ramachandran and Harris have said that they wanted to try and find a more meaningful application for the technology, so that prompted them to start Ripe.io; looking to weave the technology through the food supply chain.
For restaurants that might be interested in knowing exactly where all of their ingredients are coming from, this technology will be able to provide that answer for them. And it'll be much quicker than it would have been to go through traditional methods to get the answer.
Aside from helping to provide information about where the food came from, it can also be greatly beneficial in assisting with control in the way of quality produce. And they aren't the only ones though who looking to bring blockchain to the food space.
Other businesses in the food space that have also looked at introducing blockchain technology to their methods, are corporations like Walmart, Nestle, and Dole.
They have previously partnered with IBM to try and explore how the technology might be useful to them in their area of business as well.
It's alleged that Walmart has already engaged in at least three different experiments, partnering with IBM, to learn about using blockchain technology to track inventory like pork and mangoes.
Kroger, Tyson Foods, Driscoll's, and others, have also shown interest in the opportunity here to revamp their data management process, by looking into blockchain technology.
There are so many applications for this technology, it's no wonder that many have called it one of the most important inventions in a generation; that it's going to change the world the way that the internet has for us. As IBM Chief Executive, Ginny Rometty, previously stated, blockchain will likely do for trusted transactions, what the internet has already accomplished for communications.
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Sources:
http://uk.businessinsider.com/goldman-blockchain-beyond-the-hype-practical-uses-2016-5
https://www.thestar.com/business/2017/11/10/startup-figures-out-how-to-put-tomatoes-on-blockchain.html
https://www.inc.com/melissa-thompson/6-industries-that-could-be-forever-changed-by-blockchain.html
https://www.forbes.com/sites/oliviergarret/2017/03/29/5-industries-that-blockchain-will-likely-disrupt-by-2020/2/#2705c29f6a90
https://ripe.io/
https://www.cnbc.com/2017/08/22/ibm-nestle-unilever-walmart-blockchain-food-contamination.html
https://www.forbes.com/sites/bernardmarr/2016/05/27/how-blockchain-technology-could-change-the-world/#2d2861ec725b
http://fortune.com/2017/08/22/walmart-blockchain-ibm-food-nestle-unilever-tyson-dole/
https://www.huffingtonpost.com/don-tapscott/five-myths-about-the-bloc_b_10105946.html
http://www.businessinsider.com/ibm-ceo-ginni-rometty-blockchain-transactions-internet-communications-2017-6
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