The blockchain is an incredibly useful tool for recording, storing, and transferring data that does not rely on a centralized system. The heart of the blockchain is anonymity, which protects against data breaches in an environment that is decentralized. The baseline of all crypto-based transactions is trust, guaranteed by this decentralized system.
Ethereum is a blockchain platform with smart contracts functionality launched in 2015. eToro’s market research shows that its main advantage over bitcoin is that it allows individuals and companies to do much more than transfer money between entities. Layer-2 scaling solutions are separate programming protocols that integrate into the Ethereum main net, resulting in increased transaction throughput and reduced transaction costs. These are critical requirements for creating more practical real-world applications of blockchain.
“GCAC has expanded into multiple agricultural markets by attesting cultivation steps and connecting them with consumer feedback.”
In 2020, Global Compliance Applications Corp. launched an app on its own Ethereum Layer-2 blockchain (including advanced security & roll-up technology) to improve cultivator-consumer interactions. This was the first use case in the world where Ethereum smart contract protocols facilitated better interactions between cultivators and consumers.
GCAC has expanded into multiple agricultural markets by attesting cultivation steps and connecting them with consumer feedback. This communication is done via a high-value Ethereum wallet in the Efixii dApp (decentralized app), connecting everyone from cultivators to consumers.
Over the next three months, we will explore how a blockchain implementation can revolutionize existing challenges and the pressing issues of the global food supply chain, creating a more transparent and sustainable future. The international food supply chain is a complex ecosystem, with many players involved at every stage of the process. By tracking the process from field to fork we can examine what works and we should keep and what doesn’t work and needs to change. This can pave the way to build a more efficient system that treats our farmers fairly and delivers a consistent product to the public.
Visit efixii.io to learn more about the Efixii solution for cannabis and hemp and much more.
