The US livestock industry is moving towards blockchain technology. CattleProof’s decentralized cow verification service, “Verified,” has been approved, giving it the historic title of the USDA’s first blockchain-based Process Verification Program (PVP). Resistant to livestock is a Wyoming company that uses distributed ledger technology to store individual cow data.
Blockchain for livestock verification
Electronic identification tags attached to each animal provide a set of data, indicating the animal’s condition, location and many other attributes, which is then stored persistently on the blockchain. This change makes traceability significantly easier with farm-to-fork traceability, and also enables farmers to monitor animal health in real-time to improve the care and control of their livestock.
A big step towards regulation
USDA’s PVP service can enable companies such as Resistant to livestock To set the standard in regulatory requirements while unlocking innovation for livestock-related problems. It would allow companies like CattleProof to assemble a set of voluntary standards that would be reviewed by the government, thus being the first decentralized livestock monitoring network.
As of today, the market cap of cryptocurrencies stood at $2.14 trillion. Chart: TradingView.com
It fits into a broader pattern in the agricultural industry where industry participants increasingly look to technology as a way to adapt to regulatory requirements while improving efficiency and transparency in their operations.
CattleProof: A unique solution
What makes CattleProof unique is that it is a USDA certified PVP using blockchain. Services include obtaining a certificate “Born in the USA” In addition to digital certificates that contain direct backlinks to animal data. The company has also integrated with Heartland Payments, offering the opportunity to make direct verified livestock transactions.
This is achieved by giving buyers the opportunity to verify the health of their livestock and ultimately improving consumer confidence in meat product transactions. Furthermore, the system allows farmers to offer something unique about their produce, and in a competitive market, traceability and ethical sourcing can give consumers an edge among competitors.
The approval is also evidence that farm adoption of blockchain technology is gaining momentum. A recent proposal by the USDA to amend rules regarding organic products to create traceable supply lines is fueling their growth.
As blockchain continues to gain more attention in agriculture, it is poised to transform the agricultural industry in ways that include enhancing security, reducing fraud, and improving supply chain efficiency. This success may serve as a prelude to opening various programs to similar initiatives in other sectors, enhancing the role that technology will play in modern agricultural practices.
Featured image from Whitney Land, chart from TradingView