Progressive Cattleman: Higher premiums may be the future for blockchain adopters

From Progressive Cattleman

Imagine being able to scan a barcode on a package of steaks at the grocery store and access indisputable data for the entire life cycle of the animal – from conception to change in ownership, vaccines and processing.

Would it change what you choose to purchase?

With blockchain technology, an incorruptible and encrypted digital ledger that tracks and holds records in a decentralized location, this could be the future, available to consumers who are craving transparency and quality when it comes to the food they eat.

A tool for transparency

Blockchains allow independent parties to share information without a central administrator and is coded in such a way it is considered immutable or unable to be changed or hacked into. If a change must be made on a blockchain database, it’s recorded and cannot be hidden, bringing a level of trust and transparency not available in traditional databases…

“People today are demanding to know where their food comes from…there are those who want what they consider to be cleaner, better food with cleaner labels, and they are the ones who want to know the whole story. That’s the group that will pay attention to this.”

Kelly Products CEO Keith Kelly says the difference between using blockchain and another verification system is the encrypted data that’s impossible to manipulate. Using an RFID tag, data specific to each cow can be “hashed” into the blockchain, providing a story that can be traced from beginning to end.

Read the full article.