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E-Agriculture in Action: Blockchain for Agriculture

Opportunities and Challenges

image of E-Agriculture in Action: Blockchain for Agriculture

This publication aims to demystify the technology, provide some thoughts on the opportunities and challenges in implementing blockchain-based systems, as well as document some case studies on the use of blockchain for agriculture.

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Blockchain demystified

Distributed ledger technology (DLT), the technology that started the various cryptocurrencies in circulation today, has created quite a buzz in many areas in the last few years. Putting it simply, a DLT is a decentralized system for recording transactions with mechanisms for processing, validating and authorizing transactions that are then recorded on an immutable ledger. Blockchain is one implementation of DLT. It is also referred to as an “Internet of value”, meaning a secure way to store and transact value – anything from currency, stocks, contracts and even votes – from one entity to another. It is also the underlying technology powering cryptocurrencies such as Bitcoin and Ether.

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