Blockchain Technology in Food Industry Blockchain Technology in Food Industry | Page 5

Since the data is cryptographically hashed, it gives error-free results, making the system very attractive.
Be it for the self-use or for customer purpose, it is mandatory that the companies before purchasing
or investing in a subsequent product, go for a data check. One great applicability of blockchain in food
industry is this data sharing feature. This can include basic things like the soil conditions, how the harvest
going to affect, crops health and so on. Sharing of each minute data into blockchain could make the
companies invest into a particular farm and make a choice for a good product.
With immutable ledger technology data that has been brought together from multiple sources can
facilitate data access for banks, retailers, insurance companies, suppliers, distributors, groceries shops,
agriculture machine suppliers, NGOs, and government agencies. One major benefit of sharing so much
information is the transparency in data related to the particular industry.
In the food industry scenario, decentralized data will open doors for better funding of producers,
especially farmers with small farms. This, in turn, will help the farmers to produce good quality seeds and
other desires to showcase better production.