According to the United Nations, 1.4 billion tons of perishable food is wasted due to inefficiencies found with the food supply chain.
Blockchain, which can also be referred to as Distributed Ledger Technology (DLT), makes the history of any digital asset unalterable and transparent through the use of decentralization and cryptographic hashing.
NFTs are blockchain-based assets, distinguished from other blockchain-based assets—like, say, cryptocurrencies—in that they cannot be substituted or exchanged for similar items.
Blockchain is a promising technology towards a transparent supply chain of food, with many ongoing initiatives in various food products and food-related issues, but many barriers and challenges still exist…
The bitcoin price has surged over recent months as interest surrounding social media giant Facebook’s planned libra project reached fever-pitch but has swung wildly as global regulators poured cold water on Facebook’s ambitions.
The distributed database created by blockchain technology has a fundamentally different digital backbone. This is also the most distinct and important feature of blockchain technology.
In traditional fiat money systems, governments simply print more money when they need to. But in bitcoin, money isn’t printed at all – it is discovered. Computers around the world ‘mine’ for coins by competing with each other.
Bitcoin is built on a blockchain system. This means that transactions using Bitcoin are processed by being placed in blocks and then added to the chain. Each block contains just 1MB of information, which limits the amount of transactions that can be placed on each block.
Once heralded as the “silver to bitcoin’s gold”, the developers behind the long-running digital currency litecoin are seeking to re-establish the project’s prior position as the world’s second most popular cryptocurrency.