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In farming or agriculture, blockchain is used as a system to help increase the volume of reliable information available about inventories, agricultural contracts, and the general state of the farms. In the past, gathering this type of data was a costly endeavor, but blockchain has the capability to revolutionize that in the near future.
By constantly tracking the provenance of various foods, blockchain in farming or agriculture can now improve the quality of the food supply chain and maintain trust between customers and farmers.
It allows for the facilitation of various data-driven innovations in order to usher in the era of smart farming because it is a reliable and trusted method of storing data. When used in conjunction with the concept of smart contracts, it helps to smooth out the nature of transactions between various stakeholders by speeding up the process.
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