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RE: Enhanced Transparency In Organic Food Production with Blockchain

in #ico6 years ago

It's quite a novel idea. But I am concerned with how they intend to achieve this

""Blockchain deploys tools such as smart contracts which are actually self governing and devoid of human sentiments and prejudices. This is one of the recent applicability of blockchain which can protect farmers from the risks accompanied with reneged agreements that may result in huge losses in cases where farmer have produced but the other party who was supposed to have bought these produce is no longer honouring his own end of the deal. This causes farmers to sell off their goods at a far cheaper rate especially when these produce have low shelf life typical of most farm produce. With the application of smart contracts, farmers are protected against this unfair business practices""

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Well, the practicability of blockchain is sometimes hindered by the technological advancement of nations. This doesn't in any way discredit the positive effect blockchain can bring to businesses when incorporated

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