The internet connected participants in American agriculture. Now Blockchains provide the tools for making all agricultural processes more efficient. Blockchain technologies span the supply chains in agriculture and facilitate trading allowing Best Buyer to find Best Seller and once a transaction has consummated a smart contract will assure compliance with the contract terms and provide a digital step by step process to complete the terms of the trade from the initial agreed price point to delivery.
In the historic world of disconnected buyers and sellers of agricultural products, the optimum trade price was rarely found and market makers frequently jumped into the middle capturing the market’s inefficiencies. Centralized trading platforms like Beefnet will introduce members of ag product groups to a trade platform where Best Buyer will always find Best Seller in an efficient market.
Blockchains will record the transaction in real time as they occur and provide a permanent non-repudiatable link in the time sequenced transactions in the chain. Markets will become transparent and auditable. The distributable ledger will assure the integrity of the transaction as well as securing the proprietary information in a block such as the names of the parties.
The AgCenter will provide news surrounding the development of this disruptive technology and will host certain well defined host for Blockchain design and delivery.
For more information on Blockchains and the AgCenter, please contact us.