Hi everyone!
Already half a week, with which we congratulate you!
Let’s see what interesting things happened in the world.
India plans to use blockchain to track cotton from farms to consumers.
Piyush Goyal, Minister of Textiles, Trade, called on stakeholders in the cotton industry to explore the use of blockchain technology to ensure that consumers receive the highest quality products.
“Blockchain technology to improve the traceability of cotton from farm to foreigner is under consideration and will be trialled on a small scale first and then scaled up,” Goyal said.
Immutability and transparency allow users to see the history of a product at every stage of the manufacturing process.
Non-modifiable commodities such as cotton can be difficult to document on distributed ledgers, but the use of advanced smart contracts can turn the tide for such commodities.
India is one of the largest cotton producers in the world and provides an impressive 22% of the world’s production.
India’s growing dependence on blockchain.
The Government of Maharashtra in India has turned to DLT to combat certificate forgery and improve land registry processes.
The Indian state of Kerala previously announced that it would use DLT to track the distribution of perishable foods such as milk, vegetables and fish.
Nationwide, the country’s finance minister, Nirmala Sitharaman, said she expects 46% DLT adoption within a few years.
