Posted 2 years ago | by Ben Armstrong
Blockchain Helps Trace Thai Rice – and Makes the System Much Safer
The Thailand Trade Policy and Strategy Office recently revealed a plan to incorporate blockchain technology in tracking exported agricultural goods to enhance its credibility. One of the first products to be tracked with the blockchain platform would be organic rice.
The proposal is undergoing the budget approval stage, and TPSO is putting more effort discussing relevant topics with experts from related industries, including finance and blockchain.
To prepare for the implementation of the platform, which is tentatively scheduled to start in the middle of 2021, TPSO has conducted interviews with more than 5,000 farmers in Surin province and convinced them to take part in the project.
After the first pilot on organic rice receive positive results, the project will cover other agricultural products as well.
Thailand Will be Tracking Rice With Blockchain
In particular, an inclusive system will be built to automatically monitor the whole process from the cultivation of rice, to harvesting and processing before export.
Blockchain technology is integrated into the system and connects every step. After going through a number of inspections, a traceable certificate will be issued, which is able to provide all the information regarding the product’s farming location, cultivation method, packaging process.
Thanks to that, buyers can identify whether the rice is organic or if the quality surpasses necessary standards.
Finding Problems Fast
In case buyers find problems in any stage that affect the qualifications of the organic rice, they have the right to reject the deal. Therefore, the blockchain system plays as a just supervisor to guarantee the reliability of the Thai’s exported products, and gain the trust from their importers.
This project’s announcement was released at the time Thailand had entered an outburst international trade period with China, one of their favorable rice import partners. In addition, China showed their willingness to open up the gate for other agricultural products from Thailand, such as fruits, pork, and cattle.
China also expressed its support for the effort to improve the quality and standards by adopting blockchain technology in tracing product origin from Thailand.
Blockchain has been used by many companies to track the food supply chain – including Walmart – which found that the system was far batter than existing alternitives.
Articles on Bitboy may contain affiliate links that help us to remain profitable. It might come as a surprise, but all these great articles aren’t cheap to produce. If you don’t mind helping us out, please click on the links!