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Dec 26 , 2019Views : 25382
How Blockchain Can Address Food Waste And Hunger
According to one paper, 95% of agricultural research over the past 30 years has been focused on raising productivity, and only 5% has been dedicated to reducing losses. The truth is that the future of a sustainable food ecosystem may depend on how we optimize the supply chain. Rather than continue to skirt the problem of food loss, global food suppliers and tech leaders need to address the systemic inefficiencies at its root. One way they can do this is through blockchain technology.
By applying supply-demand algorithms based on consumer behavior and agricultural science to data drawn from advanced sensor technology -- all provenanced by blockchain -- we can predict and preempt the freshness of harvest from field through processing and supply chain stops. Moreover, we can better match supply to demand to avoid the current mismatch between these that leads to food loss.
Companies like AgTrix in Australia and StellaApps in India are taking a bigger-picture approach and leveraging technology to address not just production, but also the business processes that smooth out and track the bumps in the agricultural supply chain.By applying supply-demand algorithms based on consumer behavior and agricultural science to data drawn from advanced sensor technology -- all provenanced by blockchain -- we can predict and preempt the freshness of harvest from field through processing and supply chain stops. Moreover, we can better match supply to demand to avoid the current mismatch between these that leads to food loss.
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