Solutions: The Agriculture Industry (Part 3)

4 min readDec 8, 2020

In the next series of articles, BigBang Core will look into a number of different industries that are benefitting from blockchain technology.

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Though blockchain technology gained some traction due to its role in the financial sector, it has now expanded its influence to the agriculture industry as well, offering a new lease of life to various business sectors.

The agriculture industry incorporates companies involved in logging wood, growing crops, animals, fish, and also incorporates ranches, hatcheries, diaries, and farms. Undoubtedly, this industry is very crucial for the economy of a country and its proper functionality is of vital importance.

Challenges Faced by the Agriculture Industry

Nowadays, the agriculture industry encounters numerous challenges for enhancing profitability under unpropitious environmental conditions. Low client satisfaction, unfair income to farmers, management of weather fluctuations, great consumption of resources, lesser food safety, etc. are the issues the agriculture industry usually faces. Some other challenges include:

Higher Resource Consumption

An excessive amount of energy and resources are consumed by the production process in the agriculture industry, which results in severe damage to the ecological environment.

Agricultural Insurance

The identification of the causes and quantity of losses is a tiresome task for insurance firms. And the number of fraudulent incidents is increasing.

Information Asymmetry

The economic data related to agriculture is not reliable, leading to information asymmetry in the bulk future market. This, further obstructs the development of the agricultural financial market.

Agricultural Loans

It is difficult for farmers to apply for loans if they have low credit lines. The prime reasons are the lack of a rural social credit system and the greater risk of agricultural loans.

Less Food Security

There is no proper mechanism of acquiring information on every stage of food production because of which people do not put their trust in food safety mechanisms.

The Need for Blockchain in the Agriculture Industry

Blockchain technology has the potential to overcome the issues faced by the agriculture industry. The combination of blockchain with the Internet of Things will enable the farmers and stakeholders to make optimum decisions, making farming a sustainable practice. The utilization of blockchain will not only ensure transparency in the industry to ensure food safety but will give the consumers the facility of keeping a track of the supply chain. Furthermore, agricultural finances can be managed with the aid of blockchain through shared control accessibility and transparency. Some other advantages include:

Enhanced quality control
Enhanced food safety
Greater efficiency for farmers
Fairer farmer payments
Greater traceability

BigBang Core: Transforming the Agriculture Industry

BigBang Core is on its way to remodelling the agriculture industry by providing smart agriculture solutions with the help of blockchain together with the Internet of Things. By combining the Internet of Things, blockchain, and big data technologies with agricultural data, BigBang Core minimizes the work of record retention and maintains multiple systems. It has made it convenient to manage, process, and track every link from crops to accurate statistics, and to enhance the management efficiency of the agricultural supply chains, resulting in lower cost and efficient time management. The following is a summary of what BigBang Core is doing to facilitate the agriculture industry:

Effective Controlling of the Crops’ Quality

BigBang Core focuses on the inclusion of the distributed ledger of blockchain in the field of Internet of Things devices, which enables the farmers to employ sensors for tracking the quality of stored crops.

Higher Food Safety

BigBang provides the facility to record the information at every stage of food production, packaging, processing, warehousing, transportation, and distribution on the blockchain.

Completely Transparent Transfer Process

The farm can employ the Internet of Things identification technology for recording the entire information of every farm product produced in the blockchain, and acquire the output track of a specific product in the blockchain.

Securitization of Agricultural and Sideline Products

The agricultural growth/ production data is on-chain for accurately anticipating crop yields and providing more accurate data for bulk markets.

Enhancement in Agricultural Intelligence

BigBang Core combines blockchain technology with agricultural insurance which reduces the chances of insurance fraud effectively and also simplifies the processing procedures of agricultural insurance.

Yi Hua Department Store Holdings Limited:

Launched in 1995, Guangdong Yi Hua Departmental Store Co. Ltd. is one of the biggest comprehensive retailers in the province of Guangdong. Being a prime domestic fashion chain, Yi Hua Groups are comprised of departmental stores, global shopping, home furnishings, electrical appliances, and supermarkets.

BigBang Core provides the underlying data collection, analysis, transmission, and on-chain services for Yi Hua Group’s traceable electronic scale. For ensuring security, dependability, and accuracy, big data, as well as blockchain technology, is employed by BigBang Core.

The Future

BigBang Core is trying its best to fill the gaps and provide an experience like no other. It combines blockchain, big data, and the Internet of things to provide smart agricultural solutions to companies with the sole purpose of rectifying the issues faced by the agriculture industry. It ensures lower costs with higher food safety, effective quality control, and a completely transparent transfer process, giving an all in one solution to its users, and we they are just getting started.