Blockchain, bitcoin, potato and Barcelona Coin.

Blockchain, bitcoin, potato and Barcelona Coin.

By Aristos | cryptobot | 25 Jun 2020


How the blockchain promises to change the lives of producers and distribution chains. They end up with $ 1 billion bitcoin options. Barcelona has launched its own cryptocurrency.

 

According to studies, within the next 5 years, many of the major supermarkets are expected to make extensive use of the blockchain . The food industry is one of the most active areas exploring new technology activities, hoping to help it address two fundamental challenges: first, optimizing performance through the increased efficiency of the supply chain and second, meeting the needs of consumers. for transparency. From the farm to the supermarket shelf.

If farmers had a method that alerted them in time to the needs of their distributors, they would cover them earlier and more efficiently. It will not only benefit businesses, but will also have a positive environmental impact .

On the other hand, buyers want to know where their food comes from. What cultivation methods were followed and generally all the stages until they end up on their plate. Increased awareness of food safety due to Covid-19 has made transparency even more critical for both consumers and auditors.

How does blockchain technology provide the tools to provide and analyze this information? Creating a digital identity for products, offering those interested the opportunity to follow the entire course of the supply chain.

We mentioned earlier the case of Nestlé , the world's largest food and beverage company. One of the pioneers, he began experimenting with blockchain technology in 2017, as a founding member of the IBM Food Trust. He partnered with French supermarket group Carrefour  to offer buyers of mashed potato Mousline the ability to use the QR code on the product packaging to gain access to information about the production supply chain. Information that includes potato varieties, dates and place of production. From the composition of the soil in which the seed enters to the supermarket shelf. The consumer even takes photos on his mobile phone.

Thanks to the blockchain, the practice of obtaining well-known village oil, honey and fruit is reviving to the highest quality. Why do many people prefer this tactic? Because they know where the products come from and trust the producers that they are following the right way. This trust can now be generalized and accessible to all.

What are the advantages of the new, promising method? For the first time there is a digital footprint. What the blockchain achieves and cannot be achieved in the conventional way is that it controls the specific person who passes the data. At any time he can immediately find out who went through the wrong details. This ensures that the information provider has every reason to be careful. Not only to avoid careless mistakes, but also to prevent him from fraudulent interventions.

All of this is promising, but there is one vulnerability that has not yet been addressed by blockchain systems: reliability. If there is no method that rewards participants, as is the case with bitcoin, then there is no incentive. Not to participate, but to protect the network by ensuring that no one steals. How no one will feed the system with incorrect data, either by deceit or by mistake.

 

If you remove the reward with the coin, you have to find another way. Whom; Not found yet. That's why bitcoin is considered the most successful blockchain application so far. One of the fundamental mechanisms behind the bitcoin network is proof of work, the basis of the security mechanism of the blockchain, which ensures that despite the fact that the participants are anonymous and unknown to each other (so they have no reason to trust each other), will follow the rules honestly and responsibly.

The news from the crypto market

* The plan for Barcelona to acquire its own cryptocurrency became a reality. It released its first FC Barcelona Fan Tokens (BAR), from Chiliz.net and Socios.com, worth $ 1.3 million in less than two hours. More than 4,000 fans from 106 countries took part in the sale of the tokens.

Ethereum, valued at $ 188 million, has been moved by a wallet linked to PlusToken organizers, one of the biggest cryptocurrency scams. The last time the coins were moved was on December 19. The transactions come two days after the transfer of EOS, worth $ 67 million, from a wallet that is again related to PlusToken.

* Almost a billion worth of bitcoin options expire this Friday, according to research firm Skew . This is the largest amount ever in crypto space. So there may be sharp price changes these days. 

 

* At the moment, however, the price of bitcoin follows the course of the S&P 500 with great accuracy . So it was no surprise that it could not be kept above the blue trend line. On the plus side, it stopped at just under  $ 9,000 support , but it's said to have failed to return to the blue channel.

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