This startup is pairing the blockchain with farming

pulse

November 10, 2017 2:31 PM

Ripe, a blockchain startup, is showcasing how the distributed ledger technology can be applied to farming.

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showcasing

blockchain is growing more popular

Blockchain is a key tool for the IoT because of how it combines data storage and communication in a trusted medium.

A blockchain is a shared, distributed database
that acts as an immutable ledger, recording entries and verifying them across a number of independent participants. Once an entry is made, it’s marked with a unique hash code that places it sequentially in the ledger.
In agriculture, this means that farmers can use sensors and handheld devices to gather data about crops like tomatoes starting from seeds.
This information is written onto the blockchain, and can include important factors like salt and sugar content and pH levels, as well identifying factors like location to link the entry to a particular plant.
From this, farmers can determine when a plant is ready to be harvested

Agriculture shows another industry where blockchain can be a useful tool for storing and communicating IoT data. Companies looking to store and share data from connected devices in all sorts of sectors, from agriculture to construction to retail, should consider it as a potential tool that can meet their needs, while companies with experience managing blockchains — like those in financial services — could have an opportunity to apply that expertise beyond their traditional areas and open up new revenue streams.

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