Kerala government will use blockchain technology to simplify the purchase and distribution of milk, vegetables and fish within the state. The Kerala Development and Innovation Strategic Council (K-DISC) will implement the project. Kerala’s think-tank plans to formulate and implement the project for a healthy and favorable ecosystem through blockchain technology.
The crop insurance scheme of Kerala will be made smarter and fool-proof. Farmers suffering crop losses will receive faster settlement of claims. There is also an initiative by K-DISC to train students in Blockchain technology; giving them an early-mover advantage in the space. The technology currently has high job potential in India and abroad.
Blockchain technology will be used to monitor production, procurement and distribution of high quality milk and ensure speedy delivery. An electronic ledger will be used, according to Abraham, the Chairman of K-DISC, K.M. The supply network will have individual ID numbers based on the source and quality of the product and the ID can be checked at each point in the supply chain.
The Internet of Things (IoT), RFID Tags and mobile applications will be used to track the movement of trucks and refrigerated tanks to ensure that the supply follows protocol for parameters like temperature, etc.
In crop insurance, blockchain technology will remove the time-lag in processing and delivery of compensation to farmers who endure losses from natural calamities. The Chairman predicts that the entire process from applications for coverage to the final settlement will be made hassle-free and time-saving.
Blockchain technology will also help to analyze if the crop loss occurs from natural causes or not, therefore, ending disputes between insurance firms and beneficiaries by removing the middleman.
Vegetables and fish supply will be improved by blockchain technology; farms and fish-landing spots will be connected with packing centers by the technology through geo-coded images. Continuous monitoring and verification of goods will be done at every stage from the warehouses, wholesale and retail centers till the end point with the consumer.
K-DISC launched the Accelerated Blockchain Competency Development or ABCD project to enable students to tap the huge job potential world-over.