Block chain and artificial intelligence disruption.

Block chain and artificial intelligence disruption. Learn all about blockchain and artificial intelligence, learn how to merge it in your industry. Read how it works in agriculture and agribusiness here. Register here

Blockchain in Agribusiness : The Benefits of Blockchain in Agribusiness.

The Potential of Blockchain in Agribusiness.The encryption technology known as Blockchain was originally popularized with the appearance of the Bitcoin cryptocurrency.


The first use of this innovative and complex technology was to trace and document all activities that Bitcoins undergo. In this sense, Blockchain allows cryptocurrency users to securely track and observe every transaction that a specific good or product undergoes.


Blockchain is ground breaking because its encryption coding automatically records the activity details of a good or service as a new link or block in a linear data set that is non-repudiable and transparent within a public network.


 Furthermore, while Blockchain allows users to observe the history and components of a specific article, it does not allow users to erase or alter it in any way. Rather, new transactions and activities are added as additional data links.

 In recent years, technology and software companies have been developing ways in which the Blockchain technology from cryptocurrencies can be employed by industries such as banking, finance, manufacturing, trade, and even agribusiness.


Though still in the early stages, these developments are proving revolutionary for many industries. Allowing banks to trace international financial transactions more securely, helping financial watchdogs to better combat money laundering, simplifying shipping and regulatory paperwork for international trade, and informing consumers as to the specific sources of their produce, are just some of the processes that Blockchain technology has the ability to simplify and make more secure. 

Furthermore, Blockchain technology would allow consumers and industry regulators to easily verify the origin of products, whether a product is responsibly produced, whether it has been illegally traded, assess the carbon footprint of its supply and distribution chain, and if it has paid the necessary taxes and duties.

 Ultimately, Blockchain is revolutionizing industries worldwide and, in the near future, it will allow unprecedented levels of transparency, security, and accountability in world markets.


 Simultaneously, Blockchain technology will allow companies, from start-ups to large multinationals, to compete on equal footing as it relates to certifications, such as fair trade and organic sourcing.

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How Can Farmers Benefit from Blockchain?.

From Bitcoin to Agriculture: How Can Farmers Benefit from Blockchain? We have all seen the use of (and hype about) blockchain in the context of bitcoin, the digital currency that first brought blockchain to mainstream media and investors.


 While bitcoin remains in the news, the applications and potential of blockchain are spreading well beyond cryptocurrency.

 Before we take a look at how the agriculture industry is using blockchain, let’s do a quick blockchain 101. 

 What is Blockchain? One way to think of blockchain is as a technology that allows users to transfer value, or assets, between each other without the need for a trusted intermediary. The exchange is recorded in a ledger that is shared by all users of that blockchain.

 Users rely on this shared, or “distributed,” ledger to provide a transparent view into the details of the assets, including who owns the asset, as well as descriptive information such as quality or location.
The running history of the transaction is called the blockchain, and each transaction is called a block.

Today, when you hear about blockchain, what most really mean is ‘blockchains.’ There exist multiple different forms of this distributed ledger technology, each suited to distinct use cases.

 One popular blockchain technology is Ethereum, which its founders launched around the idea that blockchains can do more than simply record information.

 This concept, called ‘smart contracts,’ is central to Ethereum and allows users to codify significant parts of a workflow process, agreement, or task.

 

When a transaction occurs, the software automatically executes an action, or set of actions, according to the specifications in the smart contract. One example is smart locks; locks that automatically open after receiving the correct fee.

Cryptocurrency is the great African opportunity.

Cryptocurrency is the great African opportunity. Cryptocurrencies are gradually being discovered in Africa.
In countries like South Africa, Ghana, Kenya, Botswana, Zimbabwe and Nigeria, there is a semblance of digital currencies, primarily bitcoin, taking roots.

 Blockchain or DLT (distributed ledger technology) can be seen as the solution for Africa’s current problems and future growth.

 Bitcoin, based on blockchain, could be the engine for African growth, and could fuel the continent’s great leap forward. 

 It is important to first define a few concepts in the field of cryptocurrency. Cryptocurrency  is defined as a digital asset designed to work as a medium of exchange, using cryptography to secure the transactions and to control the creation of additional units of the currency. 

Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.

  Bitcoin became the first decentralised cryptocurrency in 2009.

Agribusiness and bitcoin wealth.

Queensland Egg Farmer Lays the Foundations For Agriculture Bitcoin Economy.

A chicken farmer on Queensland's Sunshine Coast wants his customers to pay him using the online currency, Bitcoin.  Bitcoin is a form of digital currency, which is created and held electronically.

Mark Burgunder, an organic chicken egg farmer at Conondale, is already using the virtual currency in his business.Mr Burgunder said he wants to create a local Bitcoin economy amongst Sunshine Coast farmers and consumers.

Bitcoin is an electronic currency that is not backed by a central bank, it is backed by a network of computers and mathematics.


 Bitcoins are stored on a Bitcoin wallet, which can be accessed via computer, phone or on a card similar to a credit card.

They can also be stored on debit cards, and can be used anywhere EFTPOS is available.  Read