Emerging Opportunities for the Application of Blockchain in the Agri-food Industry
Distributed ledger technologies (DLTs) have the potential to transform the global food system by introducing important efficiency gains along value chains, and improving trust, transparency and traceability. While large actors are likely to make fast and significant inroads in exploiting DLTs, small farmers and processors also stand to reap significant benefits, provided the technology is made accessible to them. This raises the question of how an enabling environment can be created for smallholders to harness these new technologies, and, at a broader scale, for DLTs, so that these contribute to improving the functioning of global food and agricultural markets.
This paper, by Mischa Tripoli and Josef Schmidhuber, seeks to make an initial contribution to the emerging public debate on this issue by providing an overview of DLTs and their application in food and agriculture, examining public policy implications for food security and rural development and identifying some potential challenges, risks and the way forward.