Monday, January 1, 2024

What Is Blockchain?

       Blockchain is a digital system used to record transactions between parties in a shared, transparent, and verifiable way. Parties of a transaction (such as growers and buyers) can upload digital information or documents to a blockchain system and share access to it. All parties of a transaction see the same information and agree on it before the information is recorded. Also, once added, records cannot be changed without all parties knowing. Records can only be changed by adding another entry documenting the change, which creates a history of all changes. This feature helps avoid data manipulation and information disputes. These features have led to blockchain being considered more secure for managing digital information. A popular use of blockchain is in digital currencies (cryptocurrencies) like Bitcoin, but blockchain and Bitcoin are not the same. Blockchain applications are being used in many other industries, including health, logistics, and food and agriculture.

     Blockchain For Tracing Food And Its Attributes. The agriculture and food sectors use blockchain applications to trace food products more quickly by uploading and sharing digital information along the supply chain of a product. Compared to standard systems, blockchain might be more secure for managing information on food safety, origin, or sustainability attributes, and product certifications. Food companies such as Walmart, Kroger, and Sysco have tested blockchain systems to trace food from farm to consumer.

    Regardless of the system used to record the information, companies could share food tracing and other information with consumers using QR codes. - Clemson

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