Eight reasons why blockchain could reshape our food and farming systems

It’s one of the biggest buzzword’s in technology, with claims it is set to revolutionise the way information is shared and businesses operate. But what exactly is blockchain, how does it work, and what impact could it have on farming?

What is a blockchain?

In its simplest terms, blockchain is a technology which allows users to record information in a shareable ledger which cannot be altered.

Each entry to the ledger — such as records and transaction details — is marked with a unique code, which locks it in sequence.

How can it benefit businesses?

Blockchain makes use of cryptography, which ensures ledgers can’t be tampered with or hacked.

Because the ledgers are so secure, it allows for peer-to-peer transactions of currency, commodities, or anything else of value to take place transparently without the need for an intermediary such as a bank.

Its structure also means the ledger can be easily shared or made public, so anyone can view the contents and verify that what is recorded actually took place.

For businesses which are transaction-based, face public scrutiny or could somehow benefit from having a history that can’t be rewritten, the technology…