The need for interoperability
In response to ongoing issues of scalability and interoperability in the agricultural industry, DURIO Technologies is developing a new blockchain technology that will allow access to distributed ledger technology across various individual blockchain platforms
One of the biggest issues of decentralized networks and protocols based on platforms is that every network has its own set of standards and economics that provide governance. A perfect example is how Ethereum and Bitcoin each have their own rules for development and cryptocurrency.
Unfortunately, the same situation plays out in the world of blockchain supply chains. Players in the industry tend to create systems that have minimal compliance, which results in minimally useful systems. Even worse, each of those systems cannot communicate with the others, and there are multiple instances of each of these systems. This has the potential for negative real-world impact, since something like large-scale food contamination may be too much for the available systems to handle. For global blockchain-enabled food safety to function, all the different networks should have the ability to communicate or, preferably, have interoperability.
To add to the issues related to interoperability and scalability in supply chains, food tends to have even more complex supply chains than those found in other industries. Due to the importance of food, it is a high priority when it comes to creating supply chains, but this complexity poses a challenge.
Startups are beginning to recognize the important applications of blockchain technology for food supply chains with goals like cost savings and improved food safety. Unfortunately, just as with other industries, there are many blockchain platforms being created, and they must work together to achieve their goals.
The first globally accepted standard
DURIO Technologies was among the early adopters of blockchain supply technology for the agricultural industry, recognizing the importance of the blockchain in food supply chains. The company has noticed the need for interoperability and is working to create an infrastructure network that will bridge various blockchains. The network infrastructure will focus on hardware, lower, and protocol level interoperability.
The company’s leaders feel that the ability of various platforms to collaborate will lead to dramatic improvements in the supply chain applications of blockchain technology. They believe that this collaboration will lead to best practices for all types of blockchain interoperability, as well. This interoperability also should help encourage market adoption for more businesses.
DURIO is currently poised to become the first standard used to connect agriculture blockchain supply chains that is globally accepted thanks to its unprecedented infrastructure network. Those interested in the agricultural supply chain are watching for the results of DURIO’s project, as are those in other industries since the interoperability infrastructure should have far-reaching applications across industries. Successfully implementing this technology will be a significant achievement for DURIO and will ensure its status as one of the top agriculture blockchain tech providers.