French president Emmanuel Macron recently spoke at the 56th International Agricultural Fair in Paris, where he called for the development of innovative technologies to transform Europe’s farming industry.
In his speech, he noted the need to track agricultural products from the raw material all the way to the final packaged product. This helps to provide quality assurance and provenance to farmers and consumers alike, fulfilling a growing need for such data in the agriculture industry. He also voiced his desire to see Europe and Africa work together for shared development in the farming and food supply sector.
A Solution in Blockchain
Blockchain technology provides all the necessary functionality required to solve many of these problems, especially in emerging markets like Africa where reliable and trustworthy data is lacking. By maintaining an incorruptible and transparent record of events, a blockchain-based system puts to rest any concerns consumers may have about the origin and quality of a product.
FieldCoin is a UK-based blockchain platform that offers a solution to these issues through its innovative land-tokenization system. It provides investors with the ability to purchase physical land in the form of digital tokens, thereby placing the land and all related data on an immutable blockchain ledger. The tokenization method gives small-scale investors an opportunity to purchase previously unattainable land – one of the most secure and reliable assets in the world.
Marc Couzic, CEO of Fieldcoin, believes blockchain technology could bring about a revolution in the agriculture industry. “Both F2F (Farm-to-fork) and organic produce stand to benefit massively from the injection of trust that will come from blockchain tech,” he says.
Organic Farming
In order to lay the vital groundwork required to transform such a massive industry into a digital ecosystem, land-tokenization is an important first step. Organic farming, in particular, has experienced rapid growth over the past decade but still suffers greatly from lack of data regarding provenance and quality.
Consumers are also becoming increasingly concerned about ethical farming practices and require verified information about the origins of a product. Organic farmers can use the Fieldcoin platform to provide honest, verifiable and trustworthy data to their customers while benefiting from easy access to a secure and transparent supply chain network.
Since its inception late last year, the company has been working hard to form partnerships across Europe, where initial trials of the technology will be implemented. It recently joined the Trescon private investor accelerator program which hosts the World Blockchain Summit Global series across ten countries worldwide. It recently completed a highly successful presale ICO and will soon begin the process of land acquisition and tokenization.
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