You may have missed the news about blockchain taking over the businesses as we know them. However, it is highly unlikely that you managed to escape the talk about blockchain. Especially if you live in Australia. Apparently, it is a privilege to be able to experience the benefits of blockchain firsthand as Australia is definitely leading the way. Australian food industry on blockchain has become a reality. This is all you need to know about the benefits of Australian food industry on blockchain.
What’s in It for the Australian Farmers?
With a goal to protect their own economics, the Australian government has made a deal with Australian farmers, incorporating blockchain in the supply chain management. The deal is reportedly beneficial to all sides involved.
Namely, Australian farmers and their businesses have suffered a lot amid the recent fires and droughts in Australia. Additionally, the global economic situation reflected on the agriculture supply chain. According to the official records, the number of local agricultural businesses decreased by 30% in the last 30 years. As for their performance in the global markets, it dropped by 10%. This latest deal with the government should allow farmers to position themselves as leaders once again both locally and internationally.
This is where blockchain comes into the picture. As we wrote earlier, blockchain has many advantages. In this particular case, it should provide farmers with the following:
- Better control over their products once they leave their farms.
- Cutting the supply chain costs enabling farmers to become more competitive in the markets worldwide.
- Enabling farmers to get their payouts in real-time, because the payment platform is powered by blockchain with incorporated supply-chain data. As you already know, blockchain enables payouts almost instantly, the same way you get your payouts in our bet safe and crypto friendly Yabby Casino.
Australian Food Exports, Alibaba & MasterCard
When it comes to Australian food and wine exports, the country is on a path of becoming a world leader. In the focus of this story there are two other parties involved, apart from Blockchain Australia. Alibaba & MasterCard have teamed up to track Australian food exports.
The global situation with coronavirus has imposed certain rules that can prolong the usual safety measures for goods traffic. Therefore, the newly established blockchain system aims for significantly shortening the procedures and enabling faster payouts.
Moreover, Australian food and the blockchain-based system set in place appear to be convenient for the Asian markets, Chinese being the closest and most profitable.
All in all, this co-operation will reportedly provide better tracking of the Australian products internationally, as well as their authentication and more convenient finances. On the other hand, food manufacturers will enjoy the benefits of getting faster payouts.
Where Does the Blockchain Fit in Long-term?
As a quick reminder, Australia is one of the first countries to have introduced blockchain. So far, we have seen energy sector transforming giving the energy producers higher levels of independence and more competitive positions. We have also witnessed various notable supply chains becoming better, faster and more accurate with blockchain introduction.
You may remember that recently, Australian government announced the Australian National Blockchain Roadmap. The main premise of this announcement was the plan to “progress toward a blockchain – empowered future in the next 5 years”.
According to this assessment, 5 years is enough time for Australians to obtain skills related to blockchain technology. They should then put these skills to use in order to create new ideas, opportunities, apps. All this with one goal in mind – to attract new investments. The 5-year financial projection stipulates US$175 billion earnings by 2025, thanks to blockchain-based technologies.
What’s in It for you, the Ordinary Guy?
What does blockchain signify to a regular guy? I am talking about the people who do not run their own businesses but go to work 9am – 5pm, work night shifts, etc. I am also referring to young people who are just getting ready to start out on their own and build what-we-hope to be better future. What does blockchain mean to you?
There are voices claiming that blockchain is not all that beneficial as it is claimed to be. They say that blockchain will limit individual freedoms. Apparently, tracking the provenance of each payment, product, service, energy consumption and so on has the potential of total control. As with all other innovations so far, we must do our best to set the standards for its possible applications and keep an eye on those standards constantly.
What I wanted to know is whether you embrace such a wide adoption of blockchain and all the benefits of living in a blockchain-based world?
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