Blockchain's role in global agriculture

According to Worldometer, the world population is estimated to be 8.2 billion. This ever-increasing figure (predicted to reach 11.2 billion by 2100) exerts tremendous pressure on agriculture, with a need for 98% rise in food production. However, the industry is currently faced with challenges that hinder its efficiency - lack of transparency in the supply chain has made room for food fraud, safety issues and a disconnect between producers and consumers. Approximately 33% of global food production goes to waste as a result of inadequate transportation, inefficient storage and handling practices therefore trust, quality, safety and transparency are essential in the world's influential sector, the backbone of the global economy - agriculture. As a transformative force with potential applications, blockchain technology has emerged a game-changer, addressing the challenges facing agriculture and unlocking new opportunities for all stakeholders in the agricultural ecosystem. Offering a dece…