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Indian Prime Minister Narendra Modi underscores blockchain potential in agriculture
Indian Prime Minister Narendra Modi has once again underscored the importance of blockchain technology, this time in the area of agriculture.
Speaking at the Convocation of Sher-E-Kashmir University of Agricultural Sciences and Technology of Jammu, he said that technology is bringing about change in all spheres of life, and the youth of our country is keeping pace with these developments.
“The responsibility of helping our farmers rests on the shoulders of the new generation. Agricultural students will add value addition to the farmers in our country. There is one important technology in agriculture-artificial intelligence. In the coming days, blockchain technology will also play a huge role,” Modi said (according to translated transcript of the speech on Crypto-News).
He explained that blockchain technology would help facilitate real-time monitoring of supply chain, bringing transparency to agricultural transactions, eliminate the nuisance created by middlemen, and help to curb the wastage of agricultural produce.
Furthermore, Modi also said that the technology would also help to check the quality of fertilizers, seeds and other agricultural inputs throughout their journey – right from their production to their delivery to the farmers.
“With the help of this technique, from the production stage to produce reaching farmers, every part of the progress will be visible. There will be an entire network of people including, farmers, regulatory bodies, processing units, etc. in the blockchain. All this will be possible with the help of regulation and consensus system known as smart contracts. There will be less scope for corruption,” he added.
The complete speech can be watched here: