The BSV blockchain is transforming supply chain management by offering unmatched transparency, efficiency, and security. Each transaction or movement of goods is recorded immutably, ensuring data accuracy and protection against tampering.
This heightened transparency allows for real-time tracking of product origin, journey, and handling, significantly reducing the risks of fraud, counterfeiting, and errors.
The role of a true enterprise blockchain was expanded upon in a recent panel discussion at the London Blockchain Conference. The panel was moderated by Rebecca Liggero (Host at CoinGeek) and included:
- Electra Coutsoftides (CEO/Co-founder of Xworks Tech);
- Chris Light (CEO/Founder of E-Livestock Global);
- Henry Duckworth (CEO of AgriDex).
The group discussed the opportunities blockchain brings to supply chain optimisation, including the integration of IoT and other hardware technologies. Understand how blockchain enhances transparency, efficiency, and resilience across various industries.
Livestock on the blockchain
One of the key focuses of this session was the journey of E-Livestock Global, which started in Zimbabwe as a social enterprise to help the livestock industry recover from a nationwide disease outbreak.
E-Livestock’s platform allows farmers to collateralise their cattle to secure loans and get paid for the true value of their animals. The traceability solution attempts to ensure healthy livestock and financial security for farmers by creating a unique digital ‘passport’ for each animal.
E-Livestock currently provides their solution across Zimbabwe, Mozambique, Zambia and Uganda, enabling their communities to onboard the unbanked and accelerate financial inclusion. With the help of E-Livestock, farmers will be able to secure loans, using their cattle as collateral.
This ‘passport’ confidentially embeds data about ownership, vaccinations, and movements. Information is scanned and collected via an RFID tag on the cattle’s ear and links to a phone-based app. Built on the BSV blockchain, E-Livestock also uses nChain’s innovative platform – Kensei – which notarises this to a public ledger, giving transparency to all stakeholders in the process, from banks to beef buyers, while also allowing farmers to receive payment automatically. The system reduces reliance on third parties, and associated costs, as well as eliminating the risk of error or duplication.
Currently, there is no unified approach to tackling disease or climate change-related issues that affect cattle because of the lack of a global identification system. E-Livestock’s solution has the potential to deliver global impact through its financial inclusion efforts, Light explained.
BSV blockchain – built for enterprises
In addition to the points discussed in this article, the BSV blockchain offers many other advantages for supply chains and agriculture, the keyword here being precision agriculture. The synergy of IoT, robotics and other innovative practices involved in precision agriculture requires however a suitable blockchain.
The BSV blockchain stands out from other public blockchains by being vastly more scalable and efficient. Its low transaction fees enable companies to manage a high volume of transactions and data without the concern of network congestion.
Additionally, the BSV blockchain’s stable protocol and fixed block size offer a dependable and predictable environment, crucial for enterprise-level applications. Its emphasis on data management and security allows businesses to store, manage, and verify large amounts of data transparently and immutably. Additionally, its dedication to regulatory compliance and industry standards builds trust and provides legal certainty.
Learn more about how the BSV blockchain can help your business here.
