Blockchain Tech Is Changing Food Production
June 7, 2020IBM is helping to revolutionize the farming industry. Through the use of AI and blockchain technology, the company has been able to aid farmers predict yield and worker demand well in advance. The COVID-19 pandemic has made it apparent that, the world needs to change the way it conducts business, drastically.
According to IBM, despite there being plenty of livestock on farms, grocers have been struggling to keep stock of beef, chicken as well as other items. The problem was caused by the closure of meatpacking plants due to worker exposure to the virus. This is an area where Blockchain technology can prove its worth.
The end result is the reduction in wastage by digitizing the entire supply chain. Kvarøy Arctic, a Salmon producer and Whole Foods supplier has adopted IBM’s tech and is using it to provide a more transparent way of managing data. This helps stakeholders to respond to bottlenecks with better agility.
It’s called Food Trust, a blockchain network that records the journey of the fish along the supply chain, all the way to the point of sale. Everything from the name of the fishing vessel to the temperature of the shipping container is logged. Retailers can use this data to forecast inventory needs and monitor the temperatures of shipments.
Digital tools are also become increasingly important to food production. Farmers who make use IBM’s tech are able to acquire better weather forecasting, IoT sensor data and AI analytics. This data can then be used to maximize crop yield and quality, while streamlining the entire process.
