Blockchain is the technology behind bitcoin, however there’s growing awareness around the fact that it has an immense unexplored potential. It is essentially a public, non (easily) counterfeitable ledger, and just as it works for digital currencies, it could work to record any other transactions.
Have a cow you want to sell? Make a digital ID for the cow (name, colour, weight… whatever information is relevant). Make an md5, then butcher it in fourth and make an ID for each quarter that links to the original cow’s ID, then split it into smaller pieces down to your own steak at the supermarket. Each steak with it’s own ID that is the last leaf of a blockchain rooted to the original cow’s ID.
You will know exactly where it comes from, what farmer, how old it was, etc.
Want to buy a pair of jeans but don’t know if they are ethically sustainable? get a blockchain for the jeans linking to other blockchains for where the fabric was made, which country, what are the workers’ conditions, etc.
Continue reading “Blockchain – A ledger” →