In 2019, a disease outbreak struck Zimbabwe, claiming nearly 100,000 cows and leading to massive losses for the farmers. This humanitarian crisis led Chris Light to explore a better solution for managing livestock, and E-Livestock Global was born. It has since expanded to offer a farm-to-fork solution fostering trust along the entire supply chain.
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In a conversation with CoinGeek Backstage’s Becky Liggero, Light described supply chain management as “the killer use for blockchain technology.”
Blockchain’s main advantage is its end-to-end traceability. With sustainability becoming critical to most consumers, they are now more interested in knowing the “story of their food, and blockchain is a great way to tell that story.”
Dozens of studies found that consumers are willing to pay more for sustainable products, with one study by Bain & Company finding that they are eager to fork out a 12% premium. This makes blockchain integration in the supply chain process a no-brainer, especially for companies dealing in food products.
“We use blockchain for verification of the health records. There’s a need for more tech in animal health and agriculture at large,” said Light.
While blockchain offers authentication, it must combine with other technologies, especially for data collection. At E-Livestock, Light designed the company’s own tags which contain a QR code that gives the cow an identity. This identity is then recorded on the blockchain and tracks the cow throughout the chain.
While it’s touted as a consumer-centric technology, blockchain benefits everyone in the supply chain, Light told CoinGeek Backstage. For instance, a wholesaler can better narrow down any issue along the supply chain to isolate the culprit without contaminating the rest of the commodities.
Digital passports are all the rage and E-Livestock is working with nChain and other partners to develop its own line. These passports are especially popular in Europe, and with Africa’s target market for food products being the European Union, it fits right into the company’s area of expertise.
With blockchain, the biggest barrier to entry is a perceived lack of expertise, with most small and medium enterprises finding integration daunting. Light advised these entrepreneurs to focus on the application and regard blockchain as “a bit like an operating system.”
“So you just think of blockchain as a tool to get you where you need to go, as opposed to having to operate and take care of it,” he said.
Watch: Supply chain traceability powered by blockchain tech
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Source: https://coingeek.com/chris-light-supply-chain-oversight-is-blockchains-killer-use-video/