Malaysia’s Penang state is reportedly mulling the adoption of blockchain solutions in its supply chains for food and agricultural producers.
Sim Tze Tzin, Deputy Minister for Agriculture and Agro-based Industries, was cited by local media as saying blockchain could be used for various potential applications in the industry. These include allowing customers to track the origins of the producers from their laboratories and farms, as well as their delivery to factories, suppliers and users. He added that the enhanced tracking and operations would be useful during periods of disruption, such as in the event of outbreaks of dangerous foodborne diseases.
The deputy minister cited the immutable, unalterable state of data on decentralized networks as being one of the key advantages when using blockchain technology. Most importantly, he voiced his belief that the adoption of blockchain would help improve security while bypassing intermediaries and reducing operational costs and distrust.
Sim did not disclose whether Malaysia would be working with blockchain or crypto startups in developing the country’s decentralized system, nor did he indicate a specific timeframe for launching the solution.
Both China and France are already considering adopting blockchain in their agricultural industries at the state level.
The Chinese government recently issued a paper titled “Guiding Opinions on Rural Service Revitalization of Financial Services,” which mentioned blockchain as a technology that can help China “improve the identification, monitoring, early warning, and disposal levels of agricultural credit risks.”
Meanwhile, French President Emmanuel Macron has described blockchain as an innovative tool that would allow traders throughout the European Union to work more effectively and transparently, as he called for unity among European nations in the agricultural sector to meet the challenge of competing global markets in the United States, China and Russia.
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