NEW KID ON THE BLOCK: HOW BLOCKCHAIN CAN IMPROVE THE UNITED STATES FOOD SECTOR

摘要

In January 2018, the first transaction of United States soybeans to China took place entirely on the blockchain.1 Blockchain—a decentralized public ledger—al-lowed the parties to drastically cut costs and increase transaction speed by digitizing the terms of the contract without a third party facilitator.2 Reductions in cost and improved efficiency are vital for the agricultural industry to turn a profit— hence, the large sums of investment by the industry in blockchain should come as no surprise.