Let’s start with the name: blockchain = block + chain. Therefore, It is a chain of blocks. These blocks contain the transactions on any type. In Bitcoin, for example, these are economic transactions. In general, however, these are transactions that describe a particular domain of interest.
The added value of the blockchain technology is the immutability of the data it stores. This is possible thanks to the cryptographic primitives and distributed consent mechanisms. Furthermore, it is possible to add elements of customized and distributed logic to regulate a given reference domain better.
Why is it useful in the agri-food sector?
The agri-food sector is quite complex and includes several participants. The use of the blockchain allows SeedsBit to make important information related to the products and production process immutable.
This careful registration of the products’ story increases their value.
Furthermore, if there are problems with one particular product, it is always possible to trace its path from field to table and vice versa.