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Blockchain in the agricultural and food supply chain management market
The global blockchain market in the agricultural and food supply chain management sector is expected to grow at a considerable CAGR of 48.1% during the forecast period. Innovation combined with advanced technologies such as blockchain and artificial intelligence (AI) offers several solutions to agriculture. Blockchain technology will change gamers as it can benefit from accurate data on farms, inventory, credit scores, and food tracking. Various technological innovations, including artificial intelligence and machine learning, are increasingly being launched by businesses to help farmers improve agricultural productivity. For example, in August 2021, Samunnati launched an integrated Blockchain, AI and ML platform focused on FPOs and farmer members. The platform will enable the redistribution of value chain earnings to farmers. The blockchain is co-powered by the University of Hyderabad, Samunnati, Synchrony and the Social Education Economical Development Society. Through blockchain technology, transparency for all stakeholders improves and also facilitates the collection of reliable data. From the beginning to the end of a product’s life, blockchain can record every stage of a product’s value chain.
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For example, in May 2020, Agri10x announced a collaboration with the Indian government to help remote farmers sell their produce directly to the market using blockchain platforms and artificial intelligence (AI). This will give the company access to the government’s National Common Service Centers (CSCs), which would allow farming communities to register on the Agri10x blockchain platform through the “village-level entrepreneurs” (VLE) program. The blockchain platform is said to provide farmers with fair pricing and transparency and assist them in collecting real-time data to manage their crops effectively.
Global Blockchain Market Segment in Agriculture and Food Supply Chain Management
By type
• Public
• Private
• Hybrid
For suppliers
• Application providers
• Middleware vendors
• Infrastructure providers
By interested parties
• Farmers
• Food producers/processors
• Resellers
By application
• Product tracking, traceability and visibility
• Payment and settlement
• Smart contract
• Governance, risk and compliance management
A comprehensive report on the blockchain in agriculture and food supply chain management market is available at https://www.omrglobal.com/industry-reports/blockchain-in-agriculture-and-food-supply-chain-management -market
Blockchain Market Segment in Agriculture and Food Supply Chain Management by Region
North America
• United States
• Canada
Europe
• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Rest of the world
• Middle East and Africa
• Latin America
Company profiles
• ABACO Spa
•Agri10X
• AgriChain Pty Ltd.
• AgriDigital
• Ambroso
• Bext360
• Load chain
• Chainvine Ltd.
• Money22
• eHarvestHub Inc.
• FCE Group AG
•GrainChain, Inc.
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