What does bitcoin have to do with barley?
Image: Farmers and agribusinesses can access the latest technologies to boost their growth
Article contributed by AgriDigital
Apparently, a lot. October marked the 10th anniversary of the release of bitcoin, a digital currency that has made global headlines. But what’s important about bitcoin is actually the base technology, blockchain. Blockchain offers a new way of storing data, allowing businesses to share data and transfer assets in an encrypted and highly secure way. From Walmart, to CBA, Maersk and the United Nations blockchain is being used to solve the challenges of traceability, payment security and access to finance.
AgriDigital is a Sydney based agtech company. They executed the world’s first settlement of a physical commodity using blockchain technology in 2016, and have since pioneered the use of blockchain in agriculture globally, working with the likes of CBH Group, Rabobank and Fletcher International Exports. Bridie Ohlsson, AgriDigital’s blockchain lead, explains the company philosophy. “At AgriDigital we work hard to make agriculture simple, easy and secure. We know our customers are the best at doing what they do, and we are giving them the digital tools they need to grow their businesses.”
The challenge with blockchain is making it accessible. “Blockchain doesn’t have a beautiful interface. It’s interacted with through software platforms, devices and sensors. And while there’s enormous opportunity to use it across agri-supply chains, the technology ecosystem can be difficult to navigate,” Bridie acknowledges. “Our founders have been farming and in agribusiness for a combined 80 years. We understand agriculture and we are making blockchain accessible for agri-supply chains.” AgriDigital’s blockchain solution, Geora, launches in market in 2019.