Will US-China trade war mean blockchain won’t be selling soybeans to Shanghai?

by Rashmee

Posted on March 23, 2018



Now that the US-China trade war is kicking off and Donald Trump is getting into his protectionist stride, perhaps we might expect to see fewer innovations such as the following?

A Dutch company using a blockchain platform to sell US soybeans to China.

That’s exactly what happened in January, when Louis Dreyfus Co., one of the world’s biggest foodstuffs traders, used a blockchain platform to sell a cargo of US soybeans to China’s Shandong Bohi Industry Co.

It’s part of a delicately sprouting trend – vegetable-related blockchain enterprises. As Bloomberg reports, in August, a startup called Ripe began tracking tomato quality using blockchain technology. And now comes a Mexican cryptocurrency backed by habanero peppers! The idea, according to the Mexican company Amar Hidroponia is to enable small investors to buy a stake in their product. They started selling digital tokens (each Agrocoin is worth 500 peso or $27) in September and expect to do just fine especially because the habaneros peppers are an integral part of the micro-local cuisine (on the Yucatan Peninsula).

Vegetables and blockchain illustrate the down-home potential of new tech.

 


Rashmee has lived and worked in several countries in the past decade, including Afghanistan, India, Haiti, Tunisia, the UAE, US and UK

Enter your email address: