Blockchain to Play 'Essential Role' in Farming Supply Chains, Says US Government

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 (AMS), the Dept. of Agriculture's standardization and testing authority, said distributed ledger technology (DLT), 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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, 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. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Paddy Baker

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.