Agriculture in developing countries has to be transformed with blockchain technology.
With 10 billion people to feed globally by 2050, the world is looking at blockchain and AgriFi to drive technological innovation in developing countries.
Since its inception, blockchain technology has found diversified and valuable applications to help boost efficiency and incentivize community participation in different areas and industries.
Farming is a sector that can benefit from comprehensive blockchain technology solutions, specifically when it comes to assembling actionable data and making it work to improve small businesses’ operations across several financial and sustainability metrics.
By 2050, it is estimated that 10 billion people will inhabit the earth, and agricultural development will be a powerful mechanism to end extreme poverty, facilitate shared prosperity and feed the overall global population. The global agri-food industry is worth an estimated $8.5 trillion and urgently needs technological innovation if it aims to achieve such targets.
Farmers across G20 nations have access to technology that helps them create profitable businesses and provide millions of people with sustainable and good-quality food. Such circumstances contrast with emerging countries’ small farmers that struggle to flourish and produce enough food for their families. Such a gap must be reduced and eventually closed if the global target is to accommodate and sustainably feed 10 billion people.
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Reference: cointelegraph
