At first the idea seemed a little silly, I mean, who's going to use blockchain to track live stock and all. The current system seems fine. But reading it more I guess it could be something useful for the live stock industry if tracking a pig can cost just a dollar.
How much does the tracking cost that industry in it's current form?
Thank you for sharing your thoughts.
Using blockchain in livestock tracking has more advantages. Maybe the most important is that a blockchain based ledger is incorruptible, unalterable. Livestock trading is fulll with abuses and frauds all over the world. Using a system which is fed by data by people and sensors and the data can be read, but not altered later means more credibility for the supply chain and the consumers.
Using blockchain for contracting and payment within the supply chain means further advantages, but these are the areas which are much harder for supply chain participants to accept, so a careful planning is needed on how to implement them.
Tracking costs vary in different industries and technologies. For cattles in the USA, RFID ear tag based traceability costs start at $2-5, and this is not a whole chain traceability cost, but just the farmer's cost. We are by far cheaper than that.
I think it is good to have a tracability of livestock. Do you imagine, they won't be able to falsify the expiration date of the meat they are selling? (Maybe they still can, but it will be more difficult and it will be easier to detect)
And you will be able to know the place of origine of the livestock. If there was a virus epidemic. It will be more easier to locate it and destroy the epidemic. So i think it can only be beneficial for everyone. But it needs to be seriously done.
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