BlockApps launches Ethereum-based Agritech network in collaboration with Bayer
The new Ethereum-based network aims to track the life cycle of agricultural products and has a pharmaceutical giant among its users.
On November 18, blockchain solution provider BlockApps launched a blockchain-based agricultural crop tracking network called “TraceHarvest,” and one of the world’s largest companies, Bayer, is among its first users.
TraceHarvest reportedly gives users the ability to trace the life cycle of agricultural products from the source of the seeds, down to defining the responsibilities of each party involved in the supply chain. The platform also provides users with real-time information, ideally mitigating the problems associated with manual crop monitoring.
TraceHarvest is open to all participants in the supply chain, such as farmers, traders, manufacturers, distributors and technology providers, and also aims to provide farmers with the opportunity to enter new markets and generate additional income.
In addition to tracking crops, the platform can be used for environmental and consumer protection, for example carbon offset credits and recalls of food safety products. Additionally, the company hopes that researchers can use the data stored on the platform to make the food supply chain more sustainable.
BlockApps collaborated with Bayer Crop Science on this project, a subdivision of the German pharmaceutical giant Bayer. Bayer assisted with the development of the network and has been using it for the past two years in customer-related operations in the United States and Brazil to track soybean and corn yields, as well as various other crops.
BlockApps Chairman and CEO Kieren James-Lubin said of the launch: “Blockchain technology is already revolutionizing the agricultural industry and, thanks to our partnership with Bayer, we are pioneers in this area. Together we have managed to make this concept a reality. “
Recently, many countries and companies have also moved to adopt blockchain in crop-related supply chains. In October, the world’s leading agribusiness companies from the United States, France, China and the Netherlands launched a joint venture that will use blockchain technology to streamline logistics processes in the agricultural sector in Brazil.
Similarly, in September Steven Marshall, Prime Minister of South Australia, launched a blockchain-based Entrust project with the primary goal of protecting the wine and dairy industries from bogus fraud in global markets and achieving efficiency savings in the agricultural sectors.
The ecosystem of blockchain-bitcoin technology, as the genesis of this revolutionary solution to various applications in business, can generate added value in various supply chains in companies, it is already possible to follow from the beginning to the final consumer, the routes of the supplies for many goods, it is now up to the giant Bayer to take a step forward in the use of technology. Waiting for new announcements
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.