Blockchain Will Play A Huge Role In Agriculture – India’s PM Narendra Modi

Blockchain, News | May 21, 2018 By:

India’s Prime Minister Narendra Modi has once again praised blockchain and said that the technology will play a huge role in agriculture.

Speaking at the convocation ceremony of Sher-e-Kashmir University of Agriculture Sciences and Technology in Jammu, Modi said that the country’s agriculture sector needs a facelift, and that it can be achieved by incorporating innovative technologies such as blockchain.

“The changes that blockchain technology and artificial intelligence will bring about in agriculture will be revolutionary. As of now, farmers in a few parts of the country are already using this technology in their practices,” he said, adding that the government has done a lot of work to ensure that agriculture touched new heights.

The Prime Minister said that blockchain 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.

“With the help of this technique, from the production stage to produce reaching farmers, every part of the progress will be visible,” Modi said. “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.”

In February of this year, Modi said that disruptive technologies such as blockchain will “have a profound impact on the way we live and work” in the future.

“We will require rapid adaptation in our workplaces,” Modi said at the time. “Skilling (sic) citizens for the workforce of the future is important. In India, we have launched the National Skill Development Mission to prepare our children and youth for a productive and bright future. We also need to ensure that our existing workforce is able to re-skill as new technologies emerge.”