The bill, jointly filed by four Colorado representative and senators, proposes that the commissioner of the department of agriculture should assemble an advisory group to study blockchain application in the industry. The document also specifies some potential use cases that should be studied, including end product tracking, inventory management and monitoring of in-field conditions.
Moreover, the proposed regulation also suggests researching blockchain systems for equipment records storage, data verification and certification of organic products, as well as input resources tracking. Lastly, the document also considers the use of blockchain for asset exchange systems, including payments for sales and storage of products.
Per the bill, the advisory group would have to report the feasibility of the applications and its recommendations by Jan. 15 next year.
Also, in February, French President Emmanuel Macron advocated the use of blockchain to innovate supply chain management in the European agriculture industry when speaking at the 56th International Agriculture Fair in Paris.