French President Reveals That Blockchain Can Position Europe For Innovations

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Food is a basic need of man. Due to the global increase in population, the agriculture sector needs improvement. The French President, Emmanuel Macron, recently addressed the issue of food traceability. He requested for increased use of blockchain and other data technologies to solve this problem and enhance the agriculture industry in Europe.

At the inauguration of the 56th International Agricultural Fair in Paris over the weekend, Macron stressed the need to improve the food supply chain. The President cited the recent Polish beef scandal as an incident that demands improvement of the food supply. He pointed out that such consumer concerns necessitate the validation and tracking of agricultural products.

According to him, the use of data technologies will help resolve such issues. The blockchain will aid the development of tools that can be used to monitor food production. The tracking of raw materials for food production, the processing and packaging operations will improve the quality of food supplied to consumers. Besides the benefits to consumers, the data technologies are the precursors for the development of tools that can improve agricultural data.

The President emphasized on enhancing Europe’s agricultural sector through the blockchain. He outlined the benefits of using data technologies for agricultural innovations. According to him, the protection of consumers and farmers from market risks and climate changes is paramount. The application of blockchain technology can help solve the challenges in the agriculture sector and improve food production.

The President emphasized on the needs and benefits of moving Europe’s agriculture industry forward. The implementation of data technologies and innovations can transform agricultural production. Macron promised to propose the establishment of an agency that will verify the standards of agricultural products. If supported by other EU member nations, the President believes that a European task force can fight food fraud in the continent.

Benefits Of The Blockchain In Agriculture

The blockchain technology offers nations the opportunity to improve their agricultural operations. From the farm to the table, a country can benefit from its application. Tracing the origin of food products as well as tracking their transportation can help solve contamination issues. Consumption of contaminated food can cause serious health conditions or even death. The use of blockchain in agriculture can prevent such health risks and curb food fraud.

Besides improving the integrity of the food supply chain, this data technology can also improve the record-keeping system. The blockchain ensures that stored information is secure. This technique prevents third parties from compromising the stored data. The blockchain-based system can minimize fraud related to agricultural records.

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This modern technology also supports financial transactions without involving intermediaries like banks. Due to the transparency of the blockchain, farmers can sell their farm produce over cloud-based blockchain platforms. The implementation of data technologies in agriculture by EU nations will aid the distribution of agricultural resources in the continent.

The transparency of data collection and sharing on the blockchain can give farmers easy access to financing. Small-scale farmers may need capital to expand their agriculture business. This modern technology can help creditors to obtain genuine information about farmers requesting for loans.

Blockchain technology has great potentials for agriculture. Besides improving food safety through the tracking system, it can help farmers to manage their harvests. Its application in Europe’s agriculture industry will develop the sector.

Do you think blockchain technology can be impactful in the agriculture sector? Share your thoughts in the comment section.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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