Blockchain might be best-known for disrupting the financial sector, thanks to Bitcoin and more recently, Facebook’s Libra, according to an article at Scitech Europa. Yet there are scores of other industries ripe for transformation, and smallholder farming could be one of them.
The digital ledger technology can provide greater levels of transparency and, as a result, open up new, high-value markets to smallholder farmers in the Caribbean, revolutionizing the way they go about their business.
Blockchain, at its most basic level, is a digital database that contains immutable information, which can provide anyone, including farmers, with secure, digital identities. It provides an additional layer of security and transparency for buyers, sellers, and all other actors in the food supply chain.