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Ethereum-Based Agritech Network Launched By Bayer And BlockApps

Ethereum-Based Agritech Network Launched By Bayer And BlockApps

BlockApps, a blockchain solutions provider, has launched a new agricultural crop tracking network based on blockchain technology. This network, called TraceHarvest, was launched on the 18th of November, 2020, and already boasts Bayer, one of the biggest companies the world has to offer, as one of its users.

Revolutionizing Agricultural Supply Chains

TraceHarvest provides its users with the ability to trace agricultural products’ respective life cycles. It starts all the way from the seeds’ respective sources, working itself up to defining each involved party’s responsibilities within the greater supply chain.

Alongside this, the information will be provided to the network’s users in real-time, which potentially solves the problems caused when manually tracking crops.

The entire agricultural supply chain can make use of TraceHarvest, be it dealers, farmers, distributors, manufacturers, and even technology providers. Furthermore, TraceHarvest aims to provide opportunities for farmers to generate additional incomes and enter new markets.

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A Variety Of Potential Use Cases

TraceHarvest can be used for consumer and environmental protection while tracking crops, as well. A prime example of this would be food safety recalls or carbon offset credits. The company is further hoping that the platform’s stored data can be subsequently used by researchers in the development of a more sustainable food supply chain.

Bayer Crop Science had collaborated with BlockApps in order to develop this project. Bayer Crop Science stands as a subdivision of Bayer, a German-based pharma giant.

Bayer had been leveraging the network for two years, now, having helped with its development in the first place. In particular, Bayer uses it for the US and Brazil-based customer-related operations in order to track a variety of crops, predominantly soybean and corn yields.

The Mandatory Kind Words

Kieran James-Lubin stands as the CEO and President of BlockApps, and gave comment about TraceHarvest’s launch. He highlighted how the agricultural industry is already being revolutionized by blockchain technology, thanking Bayers for BlockApps’ status as a pioneer in the agricultural blockchain field.

It’s becoming a trend for companies and countries alike to start adopting blockchain technology to handle crop-related supply chains. In fact, a joint venture was launched by the top agribusiness firms of France, the US, the Netherlands, and China in order to streamline Brazil’s agricultural sector’s logistical processes.

Another prime example comes from the Entrust project launched by Steven Marshall, South Australia’s Prime Minister, back in September of 2020. Entrust was launch with the aim of preserving the dairy and wine industries of the country from fraud, increasing efficiencies in the sector as well.

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    A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.