Malaysian State Plans On Launching Blockchain Based Tracking For Agricultural Products

by | Mar 2, 2019 | Blockchain, Cryptocurrency, Cryptocurrency News

Malaysia | Agriculture | Blockchain based product| Penang | Blockchain

Penang, a Malaysian state located on the northwest coast of Peninsular Malaysia is looking into employing blockchain technology in the food and agricultural products supply chains, as reported by local English-language newspaper The Star on March 1.

According to the reports, Sim Tze Tzin, the country’s Deputy Minister of Agriculture and Agro-based Industries stated that the technology can be used for various applications in the industry, including tracking the origins of a particular product purchased by a consumer by a simple scan of the codes

In addition, to the transparency, the platform will also aid the industry in warning the consumers about the outbreaks of dangerous foodborne diseases. The minister further added that the key advantage of using blockchain is its decentralization feature, data is stored on a network that cannot be altered.

Sim also points out that blockchain will help in improving security, reducing operational costs, and bypassing the middlemen. While he did not reveal a specific time frame for launching the supply chain solution or whether the country will collaborate with crypto or blockchain startups to develop the decentralized ecosystem.

Notably, France and China are also considering implementing blockchain in agriculture on the state level. A tech giant from India, Tech Mahindra is also planning to employ blockchain technology for grapes export business.

Read more: Seven Global Oil And Gas Firms Collaborates For Oil & Gas Blockchain Consortium

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