Abstract
Blockchain systems are a fast emerging and a currently widely discussed novel strategy for a decentralized cryptographically enhanced digital ledger recording transactions among stakeholders. This perspective paper looks at its potential uses in the context of high value and mostly low volume botanical material traded globally and used as medicines, health foods, in cosmetics and other applications. We offer a perspective on key areas in the supply of such products globally and how blockchain systems may help in sustainable sourcing, quality assurance, and in tackling supply problems in cases of complex multiherbal preparations. Both open and closed blockchain systems are feasible, and it seems likely that, at least in the initial development, closed ones are the main ones to be utilized. While blockchain’s potential is not yet clear, the examples presented here highlight the opportunities of this new technology.
Highlights
Concerns about the quality and authenticity of botanical material used in medicines and food have existed at the very least since the start of international trade in such materials
Blockchain systems in farming and agriculture are being investigated and it is plain to see how the benefits would apply to herbal production
The question to address is : “What makes the herbal supply blockchain different from any other cultivated food?” and “how do we address these specific issues in the blockchain?”
Summary
Concerns about the quality and authenticity of botanical material used in medicines and food have existed at the very least since the start of international trade in such materials. These supply systems gave rise to a number of specific concerns including equitable benefit-sharing/responsible sourcing and sustainable supply, especially as it relates to protected or threatened environments In many cases this had been seen as a supply issue, but at least since 2012 an increased awareness has developed on the wider role of such herbal materials’ value chains in a globalized market (Booker et al, 2012). While Booker et al (2012) highlighted the opportunities arising from analyzing value chains using a transdisciplinary approach, more recent developments may offer a new solution – blockchain systems, a technology widely seen as an opportunity to solve the challenges arising from the fast changing socio-economic framework of how societies exchange information and goods (trade) This is exemplified by the launch of Frontiers in Blockchain in September 2018, which publishes rigorously peer-reviewed research covering theory and applications of blockchain and blockchain-related technologies. In this perspective article we explore the opportunities in using blockchain systems in a sector that is dominated by many stakeholders, and how this can help to ascertain equitable benefits to producers, sustainable sourcing and production, and the best quality of the final products
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
