The U.S. Department for Agriculture says it expects blockchain will become a key component in supply chain management and traceability.
In the Federal Register last week, the Agricultural Marketing Service, the Dept.
Of Agriculture's standardization and testing authority, said distributed ledger technology, which includes blockchain, will likely play an "Essential role" in complex supply chains.
Businesses can use DLT to track a single item in real time in a secure, verifiable and transparent way, AMS said.
The agency added many modern DLT solutions are permissioned; confidential and business-sensitive information is only disclosed to authorized entities.
Supply chain management is already an established use case for blockchain - the likes of Daimler, Tesla and Amazon have all explored using DLT in theirs.
GrainChain, a blockchain platform tracing agricultural products, raised $5 million in a funding round earlier this year.
The U.S. Air Force renewed a tech contractor's mandate in June to assess the value of using blockchain for its own military supply chain.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Blockchain to Play 'Essential Role' in Farming Supply Chains, Says US Government
Published on Aug 11, 2020
by Coindesk | Published on Coinage
Coinage
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.