The project will be headed by the Kerala Development and Innovation Strategic Council (K-DISC), the local think tank of the aforementioned state. The said project will be using blockchain along with Internet of Things (IoT) technology in improving the supply and distribution of milk, fish, and vegetables in the said state.
Dr. KM Abraham, chairman of the said think tank, explained in an interview with Business Standard that every part of the supply network would have its respective ID number, through which its source, production, procurement, and distribution “can be checked at every point of the chain.”
This will make the crop insurance system smarter and fool-proof, as the project would greatly help in determining “whether the crop loss was due to natural causes or not,” avoiding unnecessary conflicts between insurance firms and beneficiaries.
Similarly, American retail giant Walmart unveiled in April its own venture into the blockchain, in partnership with IBM, for its live food business. The said partnership will create a system which would greatly reduce the amount of food waste, as well as improve contamination management and transparency.
(Image Source: nft.in.th)