Published: 10th Apr, 2021
The Spices Board India has signed an MoU with UNDP India’s Accelerator Lab to build a blockchain-based traceability interface for Indian spices for enhancing the transparency in the supply chain and trade.
Context
The Spices Board India has signed an MoU with UNDP India’s Accelerator Lab to build a blockchain-based traceability interface for Indian spices for enhancing the transparency in the supply chain and trade.
About
About the Blockchain-powered traceability interface
- It is a decentralized process of recording transactions in an open and shared electronic ledger.
- The interface is an easy and transparent data management system across a complex network of farmers, brokers, distributors, processors, retailers, regulators, and consumers.
- UNDP and Spices Board India are also trying to integrating the Blockchain Traceability Interface with the e-spice Bazaar portal.
|
Spice Board of India
|
- Significance: It will help in simplifying the supply chain.
- It will allow farmers to access the information, which further makes the entire supply chain more efficient and equitable.
- This traceability interface is expected to boost consumer confidence and facilitate the sourcing of spices for exports as well as for local value use.
- The technology will also help in rebuilding the pandemic affected supply chains.
Potential Blockchain Technology Benefits for Agriculture
|
Courses
Study
Notes
Home
Resources
More
