It looks like Peter Gabriel, former Genesis frontman and solo artist, has blockchain in his eyes! The legendary singer is backing the blockchain food transport company Provenance.
How do you know your produce, fish or other good was created and transported in a moral, ecologically healthy way? At present, beyond the occasional sticker, you don’t. Provenance is looking to change that. They intend to track products from creation to their arrival on store shelves using the blockchain. They’ll then share that information with customers and businesses.
“We need to be able to trust the source and distribution chain, particularly when it comes to guaranteeing that things are produced ethically and in an ecologically sound way.” – Peter Gabriel
This has far reaching ramifications for food and other industries. Imagine if there was a Salmonella outbreak in Provenance-tracked chicken. Provenance could simply look through the blockchain records of the chicken and locate the source of the infection within minutes. Normally, without the blockchain, this would take weeks or longer.
Additionally, Provenance can help with environmental issues surrounding food and other goods. Want to know the environmental impact of the produce or other good you’re consuming? Provenance could tell you.
A horrifying example is the issue of slavery in the seafood industry. At present, over 21 million people are being forced to work producing food for little or no pay under threat of violence, according to Civil Eats.
Provenance tracks food and places it on a digital ledger. If criminals use slave labor to harvest food, it will go on that ledger. Authorities could use this information to locate the criminals.
Finally, Provenance could be used to ensure high quality goods come from reputable sources. Who knows if your Egyptian cotton sheets are actually Egyptian cotton? Provenance would.
I think this is an excellent company to invest in from a moral standpoint.
Here’s hoping they develop their technology and are massively successful!
Will Salisbury is the co-founder of Blockchain Decrypted and full-time cryptocurrency trader. He also hosts the Blockchain Decrypted podcast, and when he's not talking or writing about blockchain technology and cryptos, he likes to play games and relax in his home state of Michigan.
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