The world is slowly starting to realize the immense potential of the blockchain technology. The latest implementations are taking place in the field of finance, but this is just a tip of an iceberg. The huge power of blockchain lies in the fact that it could bring much more effective administrative outlook. By cutting out the middleman, time and resources could be much better used in order to create a better administrative environment for the people.
Kerala to implement blockchain to streamline supply
One of the most recent decisions regarding blockchain comes from the Indian state of Kerala. As Business Standard reports Kerala’s government has decided to apply the strategy to leverage blockchain tech in order to streamline distribution network and purchase of food supplies.
Supervision and implementation of the project will go through Kerala Development and Innovation Strategic Council (K-DISC). Every product will be registered on the newly created network. This will ensure that the information about manufacturer, origin, quality, and movement of the product are easy to find. Also, blockchain will do one of its main purposes in cutting out the middleman. This will be done in the field crop loss where it would be easier to conclude whether crop loss was due to natural causes or not. Kerala will avoid disputed between insurance firms and beneficiaries in this manner.
A key area in which blockchain is about to be introduced is the supply of fish and vegetables. The new strategy will use geo-coded images in order to link farms and fish-landing spots with packaging centers. In this way, the whole process of food delivery will be monitored at every point of movement from the warehouses and retail centers to the point of sale to the consumer.
Recently, K-DISC has started with the strategy of training students in blockchain technology in order to give them an early advantage in the new technology. This strategy will bring amazing job opportunities in India and abroad.
Benefits for India
India is quickly developing and these implementations of new technologies certainly cannot harm. With China, probably the country that needs the most effective administrative system. It seems as though blockchain might solve these issues. One of the main strengths of blockchain is in managing huge databases, and that is certainly something that India will need in the future. Food supply is just one of the many areas where we might expect further improvements.
Benefits for Blockchain Technology
This is also great for blockchain technology as it could show how beneficial it could be in the fields other than finances. Imagine managing healthcare databases for over billion people. If it is in the centralized network possible cyber-attack could mean a disaster. The solution will be needed and blockchain seems like the good one. Same goes for the educational system and public transportation systems. The complexity of the world is increasing the day and the new decentralized solutions will be imminent for it to function.
What do you think about potential use cases of blockchain? Share your opinion in the comments.