“Agritech” at one time would have meant new equipment such as tractors and combine harvesters, but today it refers to the wave of digital innovation sweeping through agriculture, writes Lachlan Colquhoun on CDOTrends.com.
So far, that has extended to Big Data, artificial intelligence (AI), and the increasing use of drones to deliver “precision farming.” However, several Australian companies are also working with blockchain in the agricultural context and discovering there could be significant value there too.
There is an increasing recognition that the transactional nature of the distributed ledger in blockchain has strong potential in agriculture.
For many producers, their business is all about sending goods and tracking transactions across multiple remote locations.
Just the job for blockchain and Australian farmers have been at the forefront of early use cases.