Posted 10 months ago | by Ben Armstrong

JBS Looks at Blockchain to Preserve Rainforest in Brazil

Brazil has been facing a serious problem of deforestation, which is devastating its precious Amazon rainforest.

In this crisis, JBS S.A., a leading company in the meat processing and packing industry, is among a group of companies who are heavily criticized for failing to prevent livestock from being raised on illegally deforested land.

Responding to allegations, JBS has announced their plan to build and develop a blockchain-based system to trace source origin of their products. It promised that by 2025 the company will provide a powerful traceability system that is capable of monitoring throughout the whole supply chain.

Brazil Needs More Transparency

In order to achieve the goal of eliminating unlawful deforestation in meat production, blockchain technology is expected to bring a solution which can trace back meat to the original farming location – and control indirect suppliers or middlemen.

This is likely the only way to effectively detect violations and save the jungles.

Speaking to the media, Gilberto Tomazoni, CEO of JBS, talked the company's action plan. The initiative will take place from 2021, starting in Mato Grosso. This is one of the states suffering the most severely, and was reported to account for one third of lost trees of Amazon over the last 20 years.

Blockchain Can Likely Help

On September 23rd 2020, a $182 million fund was launched by JBS, with the aim to stimulate the overall socio-economic development in the Amazon and rainforest areas.

The firm will pour approximately $44 million into the region until 2025 to try and solve the current problems, and another $40 million will be prepared for the next phase – which ends in 2030.

At the same time, JBS is being recognized for conducting similar strategies outside the nation. In particular, last year, they signed a contract with Lumachain, a blockchain solutions company in Sydney, in order to launch a tracing system for their branch in Australia.

A report made by FAO (the Food and Agriculture Organization) pointed out that blockchain had massively contributed to the renovation of seafood industry, to help it become more sustainable and profitable.

With the power to improve integrity and transparency, blockchain is yearned to bring similar effects on global environmental preservation, in which reducing deforestation in Latin countries is just the preliminary step.

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About Ben Armstrong

ef4f73e9ddeb61becab57469962fa946?s=90&d=blank&r=g JBS Looks at Blockchain to Preserve Rainforest in BrazilBen Armstrong is a YouTuber, podcaster, crypto enthusiast, & creator of BitBoyCrypto.com. Better known as BitBoy Crypto, he works hard to educate and inform the crypto community.

Ben has been involved with the world of cryptocurrency since 2012 when he first invested in Bitcoin. He used Charlie Shrem's BitInstant & lost Bitcoin in the Mt. Gox hack.

In 2018, Ben decided to go "full-time crypto" and focus all of his time and energy into expanding the reach of crypto.

If you have any questions or comments please feel free to email him at BitBoy@BitBoyCrypto.com or contact him on Twitter @BitBoy_Crypto.