Blockchain Technology : The Beginning of a New

Era in Traceability
Think of a traceability system that has nothing to do
with an authority, a regulation, or a global data
provider. In this traceability system, assign a unique
identity to each of your products, and transmit the data
revealed by this identity to space. Everyone who
reaches the identity you have forwarded can see the
data you share and integrate and use it with their own
systems. All the data presented should be secure,
unalterable, transparent, and distributed. Again, no
authority, no regulation, no global data providers. Isn’t
it like a dream?

Blockchain technology, the subject of university

dissertations in the 1990s, was embodied by an
academic article published by Satoshi Nakamoto in
2008. The first important application was to securely
exchange money without a central bank. As you all
know, it’s called BitCoin. Don’t worry, BitCoin is not the
main topic of this article. The subject of this article is a
traceability system using blockchain.

Traceability in Brief
Traceability can be briefly defined as the recording of
all movements of a product throughout the supply
chain. Traceability applications are used by the
pharmaceutical, food, cigarette, alcohol, and cosmetics
industries today.

The Role of “Blockchain” in Traceability Applications

Engineers who managed projects for conventional
traceability applications had to follow the rules imposed
by authorities, regulations, and standards for years. To
generate a traceable system, high-cost servers, fast
networks, and specially developed software for data
sharing with stakeholders were developed. The systems
that emerged as a result of these efforts were not very
easy to operate and manage, with high operating costs
and ungainly systems.

The engineering team, annoyed by this issue, rolled up

their sleeves to generate traceability systems by using
blockchain. A big dream has arisen to generate a real
traceability system The dream was to record every
point in the supply chain, starting from all the raw
materials used in the production.

Even though it seemed possible to achieve the job with

conventional client-server technology, this was
expensive, difficult to operate, inefficient, and boring.
But blockchain removed all the challenges, allowing a
product to be traced throughout its lifecycle. The only
thing that needs to be done is to access the data of all
raw materials, which is used during the production,
from the blockchain and associate this data with a
single key that represents the product and transfer the
key to the “blockchain”. There are no servers, no
authority, no security, but there is transparency.

You are confused, aren’t you? I can hear that you are
considering and want to discuss how to secure your
data with Blockchain, how it will comply with the rules
imposed by the authorities, and your company’s
internal security procedures. It’s not surprising.
Everyone I’ve talked to about this issue, at first,
disagrees and gets defensive with these arguments.

An Entertaining Example
Let’s get simple answers to the questions in mind with
an entertaining example!

To your lover, you are writing an obviously private

letter. Is it possible to be sure that the postman does
not read your letter and respect your privacy?
Unfortunately, it is very difficult to be sure of this.
However, if you put your letter in a box that cannot be
opened without a key and send it to your sweetheart,
you can be sure that the postman will not be able to
read it. Don’t forget to give the key to your lover too 🙂

The conclusion to be drawn from this example is that

the traceability system installed on the blockchain is
much more secure than the conventional traceability
system. Please note that the only way to access data in
a blockchain is to have the key.

We can understand from this example that the

traceability system established on the blockchain is
much more secure than the conventional traceability
system. Please note that the only way to access data in
a blockchain is to have the key.
The Key to Blockchain Traceability: Serialization
We shared a lot of information such as what product we
produced, when and where we produced it, and much
information with the blockchain network (Ethereum,
Ripple, Corda, etc.) to provide traceability. So, how will
our suppliers, customers, and end-users in our supply
chain access this data? We called serialization the key
because it is the answer to this question.

Serialization can be defined as the marking of each

product in a production line with a different unique
code. The most commonly used technologies for
serialization are GS1 Datamatrix and QR code.
However, we can also use techniques such as RFID,
NFC, or 1D Barcode, taking into account the needs of
our application, without depending on them. The
important thing here is to present the key to be used to
access the traceability data of the product, taking into
account the user habits, to the supply chain.

The singularization of products, especially in high-

speed production lines, creates a feeling of bottleneck
in projects. The easiest way to overcome this feeling is
to take a look at the development of traceability-
oriented printing and image processing technologies.
One of the products in the ink, carbon film transfer, and
laser printing industries that have developed with the
increase in traceability requirements in the last 20
years will definitely be your solution. One of the
technologies you should use to ensure that the
products you serialize are traceable is the vision
inspection system.

What You Need to Do for a Blockchain-Based

Traceability System
First of all, you need to determine the goals of the
traceability system you want to design. While
determining this target, you should analyze the
expectations of the target markets (end-user,
wholesaler, distributor, etc.) very well.

For example, if your target market is only a

supermarket shopper, it will be sufficient for the
traceability technology to provide information such as
expiration date, production date, and nutritional value.
However, if you think that the wholesaler channel
should also benefit from this system, you will also need
to provide information such as shelf life, package
dimensions, and storage conditions.

Think Simple
We learned from our experiences that it is possible to
achieve success goals in large-scale digital
transformation projects by dividing them into phases.
For this reason, we recommend that you manage a
large project by dividing it into smaller parts. For
example:

 Serialize your products first.

 Provide the consumer with the expiry date and
production date with serialized products.
 Add useful information such as origin, package
weight, nutritional values to the data set, which
will be presented to the end consumer later.
 Include information such as large parcel weight,
size, aggregation information, storage conditions,
and storage time that may be useful to the
distributor and wholesaler.
Be Realistic in Your Designs
Improve your designs with realistic scenarios, not
assumptions. For instance, do not try to serialize
directly after production on a damp or wet package
stored in the cold chain. Work with subject matter
experts to decide where the correct serialization should
be done to avoid failure.

Types of Blockchains – Decide which one is better for

your Investment Needs
In this article, we are going to learn about the four
different types of blockchains and their significance.
Once we are thorough with the basic understanding of
the types, we will find out which type of blockchain is
best suited with most benefits. So, let’s get started.
Why do we need different blockchains?
The most basic need or application of a blockchain is
to carry out transactions or exchange of information
through a secure network. But the way people
use blockchain and distributed
ledger technology or network vary from case to
case. For instance, if we talk about Bitcoin, which is
how blockchain got introduced in the mainstream.
Bitcoin is a digital cryptocurrency which gets
transacted through the blockchain and DLT
technologies. This type of blockchain network is a
public network because people from all over the world
can become a node, verify other node and trade
bitcoins.
On the other hand, let us suppose that a bank is using
a private blockchain network. It will be a restricted
network where only the authorized members of the
bank can access confidential information. Thus, no one
out of this closed network can gain access to bank
data. A private network will have limited and
authorized nodes monitored by a network
administrator. The information transmitted through
such a private blockchain network stays within the
network. Any new node that wishes to get added in a
private network needs permission from the network
admin. The bank gets to decide the scale of their
private blockchain for all the branches of a city or all
their branches in a country. Just like these examples,
there are different ways in which the blockchain
network is set up depending on the use and
requirements.
Types of Blockchains
There are primarily two types of blockchains; Private
and Public blockchain. However, there are several
variations too, like Consortium and Hybrid
blockchains. Before we get into details of the different
types of blockchains, let us first learn what similarities
do they share. Every blockchain consists of a cluster of
nodes functioning on a peer-to-peer (P2P) network
system. Every node in a network has a copy of the
shared ledger which gets updated timely. Each node
can verify transactions, initiate or receive transactions
and create blocks.
Now let’s have a look in detail about the four types of
blockchains that are possible.
1. Public Blockchain
A public blockchain is a non-restrictive, permission-
less distributed ledger system. Anyone who has access
to the internet can sign in on a blockchain platform to
become an authorized node and be a part of the
blockchain network. A node or user which is a part of
the public blockchain is authorized to access current
and past records, verify transactions or do proof-of-
work for an incoming block, and do mining. The most
basic use of public blockchains is for mining and
exchanging cryptocurrencies. Thus, the most common
public blockchains are Bitcoin and Litecoin
blockchains. Public blockchains are mostly secure if
the users strictly follow security rules and methods.
However, it is only risky when the participants don’t
follow the security protocols sincerely.
Example: Bitcoin, Ethereum, Litecoin
2. Private Blockchain
A private blockchain is a restrictive or permission
blockchain operative only in a closed network. Private
blockchains are usually used within an organization or
enterprises where only selected members are
participants of a blockchain network. The level of
security, authorizations, permissions, accessibility is in
the hands of the controlling organization. Thus, private
blockchains are similar in use as a public blockchain
but have a small and restrictive network. Private
blockchain networks are deployed for voting, supply
chain management, digital identity, asset
ownership, etc.
Examples of private blockchains are; Multichain and
Hyperledger projects (Fabric, Sawtooth), Corda, etc.
Must Learn – Need of Hyperledger in Bitcoin
3. Consortium Blockchain
A consortium blockchain is a semi-decentralized type
where more than one organization manages a
blockchain network. This is contrary to what we saw in
a private blockchain, which is managed by only a
single organization. More than one organization can
act as a node in this type of blockchain and exchange
information or do mining. Consortium blockchains are
typically used by banks, government organizations, etc.
Examples of consortium blockchain are; Energy Web
Foundation, R3, etc.
4. Hybrid Blockchain
A hybrid blockchain is a combination of the private and
public blockchain. It uses the features of both types of
blockchains that is one can have a private permission-
based system as well as a public permission-less
system. With such a hybrid network, users can control
who gets access to which data stored in the
blockchain. Only a selected section of data or records
from the blockchain can be allowed to go public
keeping the rest as confidential in the private network.
The hybrid system of blockchain is flexible so that
users can easily join a private blockchain with multiple
public blockchains. A transaction in a private network
of a hybrid blockchain is usually verified within that
network. But users can also release it in the public
blockchain to get verified. The public blockchains
increase the hashing and involve more nodes for
verification. This enhances the security and
transparency of the blockchain network.
Example of a hybrid blockchain is Dragonchain.
Private Blockchain
Private blockchains are a restricted network of
authorized nodes. No one outside the private network
can access information exchanged between two nodes.
As impressive as private blockchains are, they have
their own pros and cons.
Advantages of Private Blockchain
Speed – Private blockchains’ transactions occur at
greater speed as compared to public blockchains. That
means the transactions per second (TPS) rate is
higher in the case of private blockchains. This is
because there is a limited number of nodes in a private
network as opposed to a public network. This fastens
the consensus or verification process of a transaction
by all the nodes in a network. Also, the rate of adding
new transactions in a block is fast. Private blockchains
can facilitate the transactions at a rate of up to
thousands or hundred thousand TPS at a time.
Scalability – Private blockchains are pretty scalable.
That is, you can choose the size of your private
blockchain as per your needs. For instance, if there is
an organization that needs a blockchain of only 20
nodes, they can easily deploy one. Then after
expansion, if they need to add more nodes, they can
easily do so. This makes private blockchains very
scalable as it gives an organization the flexibility to
increase or decrease the size of their network without
much effort.
Disadvantages of Private Blockchain
Needs Trust-building – As far as a public blockchain
is concerned, it is like an open book or as we call it, an
open ledger. This ensures the security and legitimacy
of every user. Whereas, in a private network, there are
limited participants in a restricted network. Especially
within an organization, where colleagues know each
other. They need to build trust to transmit confidential
information within a network.
Lower Security – As a private blockchain network has
lesser number of nodes or participants, it runs a higher
risk of a security breach. If anyone of the nodes gains
access to the central management system, it can gain
access to all the nodes in the network. This makes it
easier for a node to hack the entire private blockchain
and misuse the information.
Centralization – Private blockchains are restricted
that is they need a central Identity and Access
Management (IAM) system for functioning properly.
This system has all the monitoring and administrative
rights. It gives permissions to add a new node in the
network or decide the level of access they get for the
information stored in the blockchain. This whole
system contradicts the idea of decentralization which
is one of the pillars of blockchain technology.
Do you know about Blockchain Decentralized
Applications
Public Blockchain
After discussing the pros and cons of a private
blockchain, let us turn our heads to the other side, that
is, public blockchain. As opposed to a private
blockchain, the public blockchain is an unrestricted
open ledger system. It can have as many numbers of
nodes as there can be from all over the world. The data
recorded on a blockchain in a public network is equally
accessible by any node.
Advantages of Public Blockchain
Trustable – Unlike in private blockchain, two nodes or
participants do not need to worry about the
authenticity of the other. In other words, they don’t
need to personally know or trust the other nodes as
the process of proof-of-work makes sure there can be
no fraud in transactions. So, one can trust public
blockchains blindly without feeling the needing to trust
individual nodes.
Secure – There can be as many participants or nodes
in a public network which makes it a secure network.
The larger the network, greater the distribution of
records and harder it is for hackers to hack the entire
network. In addition to this, every node will do
verification of transactions and proof-of-work which
makes every transaction and block legitimate. Due to
these practices and thoughtful cryptogenic encrypting
methods, a public blockchain is much safer than the
private one.
Open and Transparent – Public blockchain is open
and the data is transparent to all the participant
nodes. A copy of the blockchain records or digital
ledger is available at every authorized node. This
makes the entire blockchain system completely open
and transparent. No one shows a fake transaction or
hides an existing one as every node has an updated
copy of the database at any given point of time.
Disadvantages of Private Blockchain
Lower TPS – The rate of transactions per second in a
public blockchain is very low. This is because it is a
huge network with a lot of nodes and for every node to
verify a transaction and do proof-of-work is time-
consuming. This is why public blockchains like Bitcoin
can process only 7 transactions per second
or Ethereum network has a rate of 15 TPS. On the
other hand, a private network such as Visa has a rate
of 24,000 TPS indicating a huge difference in speed of
transaction processing and execution.
Scalability Issues – Like we just saw in the point
above, that public blockchain have a slow rate of
processing and completing transactions. This causes
issues in scalability as well. Because the more we try
to increase the size of the network, the slower it will
get. However, solutions like Bitcoin’s Lightning
Network helps in overcoming this problem. It
maintains a rate of the transaction as we increase the
size of the network.
High Energy Consumption – The process of proof-of-
work is highly energy consuming as it needs
specialized systems (hardware components) to run a
special algorithm. It is a matter of concern from both
an environmental and economical standpoint. The
apparatus to do proof-of-work is costly and consumes
as much energy as the country of Ireland! The
technology definitely needs to come up with energy-
efficient consensus mechanisms.
Private or Public Blockchain, which one is better?
Well, before passing a final verdict, we have
thoroughly studied two main types of blockchains i.e.
private and public blockchains. Both of them have
certain distinctions from one another. However, the
main differences lie in terms of security, scalability,
and transparency. On one hand, where a private
network might not seem very trustworthy, you can
completely rely on a public network for its intact
consensus (proof-of-work) system.
So, in a nutshell, every instance or case of a successful
blockchain use that we have seen till date is of a public
blockchain. Public blockchain guarantees security as
hacking the entire network is almost impossible. In
addition to this, it offers data transparency as every
node has equal access to the record stored in the
blockchain. One of the very successful examples of a
public blockchain is the Bitcoin system.
Summary
In conclusion, we would want you to use your
comprehension and decide which blockchain will serve
your purpose better. If you are part of a public
blockchain network, all you need to do is have
thorough knowledge on how a public blockchain works
to make smart moves in the future.
6 Major Features Of Blockchain | Why Blockchain is
Popular?
1. Objective – Blockchain Features
In this Blockchain tutorial, we will study the main
features of Blockchain technology for a better
understanding of the Blockchain. Moreover, we are
going to learn about Blockchain security features.
These features will provide us with some major
properties of Blockchain. Along with this, we will see
Blockchain Features with benefits.
So, let’s begin with features of Blockchain.
Let’s revise the Pros and cons of Blockchain
2. Features of Blockchain?
We can solve the problem of manipulation by
Blockchain Technology. If you go to the west and ask
them do they trust technology there answer would be
YES namely Google, Facebook or their banks but this is
not the case with the other world, they do not trust
these organization that much. It’s not about the places,
those are rich. Opportunities for blockchain is higher in
those countries which have not reached a level yet.
So, let’s begin with some of the key features of
Blockchain.
a. Increased Capacity
This is the first and an important feature of Blockchain.
The most remarkable thing about this Blockchain
technology is that it increases the capacity of the whole
network. Because of the reason that there are a lot of
computers working together which in total offers a
great power then few of the devices where the things
are centralized.
A perfect example of this increased capacity is a
project started by Stanford University which created a
supercomputer that simulates protein folding for
medical research.
b. Better Security
Blockchain technology has a better security because
there is not even a single chance of shutting down of
the system. Even the highest level of the financial
system are subject to get hacked. Bitcoin in the second
hand had never been hacked. the reason is that the
blockchain network is secured by a number of
computers called nodes and these nodes confirm the
transaction on this network.
Let’s learn about Bitcoin and cryptocurrencies
c. Immutability
Creating immutable ledgers is one of the main values
of Blockchain. Any database that is centralized is
subjected to get hacked and they require trust in the
third party to keep the database secure. Blockchain like
Bitcoin keeps its ledgers in a never-ending state of
forwarding momentum.
To control the Bitcoin market anyone needs control
over 51% of the total market. Although we can change
ledgers by Hard Fork it needs a general agreement
amongst miners, exchange, and individual users, node
operators. But still, there are high chances that the old
ledgers would remain in their real form.
d. Faster Settlement
Traditional banking systems can be slow, as they
require a lot of settlement time which usually takes
days to proceed. This is one of the main reason why
these banking institutes need to upgrade their banking
systems. We can solve this problem by the means of
Blockchain as it can settle money transfer at really fast
speeds. This ultimately saves a lot of time and money
from these institutions and provide convenience to the
consumer also.
Do you know how Blockchain works? Let’s learn
with us.
e. Decentralized System
Decentralized technology gives you the power to store
your assets in a network which further access by the
means of the internet, an asset can be anything like a
contract, a document etc. Through this owner has a
direct control over his account by the means of a key
that is linked to his account which gives the owner a
power to transfer his assets to anyone he wants.
The Blockchain technology proves to be a really
effective tool for decentralizing the web. It does
possess the power to bring massive changes in the
industries
f. Minting
Basically, there are a lot of ways of minting a problem
of manipulation that we can solve by Blockchain. If you
go to the west and ask them do they trust technology
there answer would be YES namely Google, Facebook
or their banks but this is not the case with the other
world, they do not trust these organization that much.
It’s not about the places, those are rich.
Have a look at Oracle Blockchain Cloud Service
Now, opportunities for blockchain is higher in those
countries which doesn’t reach a level yet in but the
mining the most frequent method. But in the recent
time’s many new methods have also been introduced
as proof of work is one approach by which an individual
can prove that he is engaged in a significant amount of
computation work. So, the role of a miner is to create a
block.
So, this was all about Blockchain Features. Hope you
like our explanation of Why Blockchain is popular.
3. Conclusion
Hence, in this tutorial, we have learned about all the
important features of blockchain technology. In
addition, we covered how this Blockchain feature
benefits us and Blockchain Security features. Next up,
is the reasons why you should learn Blockchain.
Furthermore, if you have any Query regarding Features
of Blockchain, feel free to ask through the comment
section.
What are the applications of blockchains?
Blockchains are basically decentralized permission-less
databases whose primary utility is to remove the need
for trusted middlemen. In addition, they lower
operational costs, speed up traditional
processes and systems, and further offer added
benefits of accuracy through logic-driven execution
and automatic backup of transaction records. There are
several concepts and applications that are ripe for
reinvention using blockchain technology.

Blockchain in Banking
It has been years now since the cryptocurrency craze
has taken over the world. And guess, who benefits the
most? You guessed it right. The banking
industry! With millions of people showing interest in
cryptocurrency and blockchains, banks are buckling up
to meet this unprecedented demand from end-
customers. While customers are focused on
cryptocurrencies, banks are leveraging the technology
behind cryptocurrencies, ‘blockchains,’ to improve and
revamp the standards of their offerings.
Banks are basically ameliorating their services by
utilizing new blockchain protocols. One example
is Ripple. Thanks to Ripple’s properties
of decentralization, immutability, efficiency, cost-
effectiveness, and security, today banks can
transact directly with each other at low costs of
settlements. “People know Ripple is the only
blockchain solution for payments that is proven in the
real world, and it’s driving demand from financial
institutions of all kinds and sizes because they want to
stay ahead of the curve,” gleams Brad
Garlinghouse, CEO of Ripple.

Blockchain in Healthcare
Healthcare will be one of the most aggressive
industries worldwide which will most likely implement
or be driven by Blockchain technology. Blockchain,
being the future business model of the supply chain,
can be applied to the entire healthcare value chain. The
technology will essentially streamline and transform
everything from medical records and payments to
processing and analytics, thereby, benefitting all its
stakeholders from patients and customers to providers,
administrators, and healthcare institutions. By
implementing blockchains, healthcare systems will
achieve:

 Interoperability: Data will be stored in a

single format and can be shared across
seamlessly.
 Decentralized data storage: A single
technology that would handle every data of
patients.
 Power to patients: Patients would-be owners
of their own data. They will have the power to
choose with whom their personal health records
are to be shared.

Blockchain in Real Estate

Blockchain has the potential to entirely disrupt the
real estate vertical. Stakeholders are developing smart
contracts, which will enable real estate
contracts, escrows, and property records without title
companies or attorneys. In the future, it may be
possible for a buyer to buy a home and complete the
sale by clicking on a shopping cart on a website.
The blockchain will ensure that the buyer gets the title
and the seller is paid via cryptos. The handling of
money and transactions will inevitably change, and that
change is already underway. Brokerages will need to
adapt their business models to understand smart
transactions to thrive in the era of the blockchain.
Blockchain and IoT

Blockchain empowers all IoT devices to enhance

security and bring transparency in their interconnected
ecosystems. One notable example of the application of
blockchains in IoT revolves around smart
homes. Although IoT enables home security systems
to be managed remotely from smartphones, the
traditional centralized approach to exchange
information generated by IoT devices lacks the security
standards and ownership of information. Blockchain has
the potential to elevate the smart home to the next
level by solving security issues and
removing centralized infrastructure.
For instance, Telstra, an Australian
telecommunication and media company provides
smart home solutions. The company implements
blockchain and biometric security to ensure that the
data captured from smart devices cannot be tampered
with. Sensitive user data such as biometrics, voice
recognition, and facial recognition are stored on the
blockchain. Once the data is saved on the blockchain, it
becomes immutable and the access is provided only
to selected individuals.
Learn more about Blockchain technology with
the Blockchain certification course from
Intellipaat and become a successful Blockchain
Developer.
Blockchain in Supply Chain

In a world where supply chains have become

complicated owing to nascent demands of end-
customers and other stakeholders, companies are in
pursuit of technologies that would not only simplify the
management of supply chains but also make them
automate various business processes that constitute
supply chains. Thanks to its vivid and disparate
applications, many supply chain providers believe that
the blockchain technology could be leveraged
to effectively address their predicaments. From
automating supplier payments, cold chain
monitoring, and executing RFID-driven contract bids
to recording product status at the stage of production
and using smart contracts for redistributing excess
power from solar panels, the applications of
blockchains in the supply chain vertical can streamline
a plethora of operations. As an upcoming
venture, Ethereum will be implemented to
tokenize the shipping industry.
Blockchain in Government

While blockchains are gradually eliminating the need

for centralized government institutions, it is most
likely that the competition between governments and
cryptocurrencies will reach its epitome in the years to
come. However, governments are aware of the
possibilities that blockchains can unsheathe and
therefore are in continuous pursuit to implement the
offerings of blockchains to improve and revamp
operational processes. Many governments have
tended to use blockchains for a variety of reasons.
Countries like Venezuela and Russia are
incorporating their own national cryptocurrencies to
drive a sense of transparency and curb
corruption. Also, blockchains can be used to design
immutable voting systems where forgery and
frauds will be ruled out as myths.
Additionally, identity management and tax
management can also be improved using
blockchains.
Looking to obtain a Blockchain Certification?
Read our full guide to Blockchain
Certification now!
Blockchain and Cyber Security

As organizations are getting more dependent on the

Internet and technologies for generating revenue
streams and articulating business models, the
scope of hackers to exploit businesses has risen
exponentially. In this state of awe, the need for
efficient cybersecurity solutions is at an all-time high.
What solution is better than the decentralized
structure of blockchains?
With their distributed ledger technology, blockchains
can essentially enhance cyber defense. Blockchain
platforms can prevent fraudulent activities via
consensus mechanisms and detect data tampering
depending on the underlying characteristics of
operational resilience, data
encryption, auditability, transparency,
and immutability. Being distributed, blockchains do
not facilitate a central point of failure and, thereby,
provide more security as opposed to the available
database-driven transactional structures.
Blockchain and Social Media

It was not long ago when social media platforms had

engulfed humans from all directions. However, owing to
certain violations including personal data breaches and
minimal compensations for users, these platforms are
starting to lose their popularity. It won’t be wrong to
quote that ‘social media is losing its edge.’
Here, enters blockchain to revolutionize the social
media space. The technology ameliorates social media
platforms to a whole new level. Thanks to its
decentralized and distributed ledger constitution,
blockchain technology provides a methodology
whereby users can exercise more control over the
privacy of personal information, at the same time,
potentially receiving monetary compensation for the
viral content they curate and share. Blockchain can
be used to move foundational social media to an
entirely different level. The technology has the
power to reinvent the very nature of how content and
information are privately distributed and managed in a
monetized manner.
Blockchain and AI

Often referenced together as accounting

technology disruptors, AI on top of blockchains can be
potentially one of the most powerful and dangerous
technologies that were ever ideated. If we were to
decentralize AI, AI algorithms could
become Decentralized Autonomous Organizations
(DAO). DAOs are organizations that can operate
autonomously and in a decentralized way through
smart contracts, without having a central party pulling
the strings and making decisions. When conducted
optimally, an AI DAO could take over development at
some point by learning through data to optimize itself
much more effectively than could be done through
human designs.
Together blockchains and AI, or what we can denote as
a ‘decentralized AI’, can drive new possibilities in the
realms of data protection, data
monetization, and smart algorithms.
Using Blockchain For Full Traceability
One of India’s largest FPOs, the Sahyadri FPO, is
embracing distributed ledger technology (DLT) for full
traceability of its agricultural products from farm to
fork.
Speaking to BusinessLine, Sahyadri FPO Chairman,
Vilas Shinde, said that currently, from the final price of
the goods sold by the company, approximately 25%
share goes to the farmers. The FPO aims to increase
this share to at least 50% in the coming days by
tackling the current bottlenecks in the supply chain
infrastructure, including the lack of transparency.
Sahyadri’s revenue stood at roughly $62 million for the
fiscal year 2019-20. However, by eliminating the
operational inefficiencies present in the current supply
chain mechanism, it is expected that the revenue
would take a sharp surge, providing the farmers with a
better share of the pie for their work.
Shinde noted that the idea for implementing DLT arose
when Sahyadri started to comply with specifications
such as ISO and food safety standards of the European
customers. A blockchain-enabled supply chain solution
would help the company enhance the reliability and
trust of the data it shares with the customers and other
stakeholders.
The blockchain solution will essentially provide reliable
information to every farmer with regard to the price
and the quantity of the products sold in the
marketplace. Shinde noted:
“The idea is to ensure that the goods are sold at
a fair price in the retail market and farmers will
know the price their goods fetch. At the
customer end, he/she will get a quality product,
which can be traced to a single individual farmer
using the QR codes and digital maps.”
Notably, the blockchain platform is being developed by
IIT-Bombay incubated start-up EmerTech Innovations
Pvt. Ltd.
Blockchain in Food Supply Chain
At a time when the world is battling a raging pandemic,
consumers have become more conscious of the safety
of the food they purchase and several blockchain
projects have already upped their efforts to cater to the
demand.
BTCManager reported on June 6, that VeChain (VET)
had partnered with Chinese food producer Shenzhen
Yuhongtai Foods Ltd. to power its food traceability
platform with the VeChain ToolChain technology.