In this blog, we curate relevant and remarkable content related to blockchain, cryptocurrency and the digital economy. This thought-provoking piece by Andrew Arnold published on Forbes reports that the agricultural supply chain can massively benefit from Blockchain. How? Read on.
“A U.S. consumer goes to the grocery store and buys chicken for his evening meal. He “trusts” that the chicken is safe, that it has been inspected by USDA experts and is okay to eat. But he knows nothing about the origin of that chicken, how it was grown, or whose “hands” it went through on its way to that grocery store shelf.
Perhaps it was raised in China and slaughtered in very unsanitary and unfavorable conditions. Perhaps it was raised in the U.S. and pumped full of antibiotics and steroids to make it much bigger and thus appealing and worth more as it was distributed to a grocer.
The problem is, consumers do not know anything about the origins of their food, how that food was grown and how many intermediaries that food went through before it reached the shelves.”
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For the longest time since paper money has been invented, traditionalists have always had a consistent definition of what a currency is. According to Investopedia, a currency is “a generally accepted form of money, including coins and paper notes, which is issued by a government and circulated within an economy. Used as a medium of exchange for goods and services, currency is the basis for trade.”