“Organic Farming Will Improve in the Blockchain Age” – Fieldcoin CEO
In the UK – and elsewhere – organic farming has been struggling in recent years to attract new farmers to the industry – even as the organic consumer movement itself continues to grow. One issue has been the technical difficulties faced by producers in converting to an organic model. Another, however, has been consumer trust.
Specifically, organic producers struggle to meet the more rigorous demands coming from consumers on provenance, defined by the New Zealand Sustainability Business Network as “the history, distribution, location and application of products … to ensure the reliability of sustainability claims in the areas of human rights, labour and the environment.”
In other words, organic produce and the wider farm-to-fork phenomenon are not a natural candidate for export markets where compliancy with blue ribbon standards become practically impossible to verify. That, however, is about to change – according to some – with the advent of blockchain-based provenance technology.
“F2F facilitated by P2P”
“Both F2F (Farm-to-fork) and organic produce stand to benefit massively from the injection of trust that will come from blockchain tech,” states Marc Couzic, CEO of Fieldcoin, an English start-up with an upcoming ICO that is setting out to play a leading part in the next, blockchain-inspired farming revolution.
“Organic farming depends on a number of inputs – sunlight, CO2 and rainfall, for example – which can be recorded now with blockchain-based measurement technology that provides verifiably honest localised data that in turn will lift consumer confidence.”
With such benefits, the next natural step – according to Couzic – is to relocate more aspects of the agricultural economy to the blockchain in a bid to streamline – and finance – agricultural production itself.
But whilst there are sceptics who call into doubt the benefits of blockchain tech for supply chain logistics more generally, a number of leading figures within the crypto-tech development space seem to be in agreement with the Couzic outlook.
Last week, Joseph Lubin, one of the original developers of the Ethereum blockchain, stated his belief that both banking and supply chain were the leading candidates on the list of industries that are set to see major disruption ahead.