NPR - FUTURE TECHNOLOGIES: BLOCKCHAIN TECHNOLOGY APPLICATIONS IN THE WYOMING FOOD SYSTEM
Blockchain is emerging as a new tool agricultural producers, supply chain managers, food suppliers, and retailers may use to coordinate supply networks, facilitate financing, and provide customers with product information. Blockchain provides a decentralized, immutable, and secure verification system for food and agricultural products, from local farms to the global table. The objective of this work is to trace the potential role of blockchain in Wyoming agricultural products and marketing options. While the applications are in the early stages of development, we find that farms or ranches may benefit from a thorough understanding of this technology. Recent changes in Wyoming state law facilitate the development of blockchain. This paper describes the technology, reviews applications within the food system, describes state law changes, and identifies considerations associated with the technology for advisors.
Keywords: blockchain, supply chain, technology, traceability, provenance, marketing