The days when blockchain fought for recognition and struggled to be accepted as legitimate are now gone. Today, the distributed ledger technology is a driving force behind a new technological wave disrupting everything in its path.
This article explores some of the industries and processes that have not been left the same by the disruptive blockchain technology.
The Food Industry
The lack of transparency in the global supply chain is a threat to the efforts being made to ensure commodities, labor and inputs are of ethical origins and above all, safe. And that’s where blockchain solutions come in the equation
Walmart china on June 25th announced its plans for the movement of food products through the supply chain using the Walmart china blockchain traceability platform built on the Vechain’s thor program. Walmart announced that 23 product lines had already been test launched on the platform and 100 more expected to be included by end of year. Half of total sales of packaged meet comprise tracked products using the traceability platform.
The traceability program allows consumers if products access to information, in detail pertaining the production of the specific item by scanning the barcode. Facts about the product source, logistic process, and geographical location are included.
The technology assists to ensure quality and safety of edible agricultural produce. It also helps bolster consumer confidence by enhancing chain transparency alongside facilitating efficiency saving.
The UN general assembly in 2003 established the Kimberly process. The process is a certification mechanism inhibiting the circulation of blood diamonds mined in war zones and sold to finance insurgency.
Despite the widespread adoption of more than 80 countries, the scheme has been largely inefficient, and people are now beginning to criticize the organization. There has been a fair share of scandals by the organization. In 2011, global witness abandoned KPCS following its endorsement of global citizens
In May 2015, Leanne kelp, an Australian entrepreneur and founder of ledger, a diamond digital registry. The registry’s mission is accessing diamonds and grading reports by the geothermal institute of America. 2018 saw de beers, an international corporations that deals with trading and mining. Diamonds to do the same.
At the San Francisco Blockchain weekly conference in 2019, announcement was that security offering had already raised over $18 million in venture capital for the buying of an equity stake
Aspen coin, as its commonly known will see digital coins being issued via Indegogo, a crowdfunding site. This in turn helps accredited investors buy Apen coin tokens which are compliant of the US security and exchange commission.
The transparency and immutability of the blockchain technology is such an attractive solution to land management. The problem cuts across both developing and developed countries. However, the problem is more defined in developing nation where nations suffer on issues pertaining that of land.
Where corruption is more prevalent, there ought to be problems in land. Cases of conflicting land ownership seem to be the order of the day in such corrupt country atmosphere.
There are many more sectors that we couldn’t mention today. Blockchain technology has also disrupted the energy platform and oil