French Prez Gives Blockchain The Thumbs Up

Emmanuel Macron, the French President wants to reform the agricultural industry with blockchain technology; not just in France but in Europe as a whole. This was mentioned in his speech at the International Agriculture Fair (Discours au Salon de l’Agriculture) in Paris.

He acknowledged the development and implementation of blockchain technology in many different sectors. He believes that blockchain and the agricultural industry are a very good fit. This is because blockchain enables the ability to instantaneously trace the entire lifecycle of products from origin through every point of contact on its journey to the consumer.

“The innovation is there and it must be used in the agricultural world. It must be fully used because it is at the service of shared excellence and it will serve the consumer, so that we can show more transparency to rebuild a real relationship of trust between our fellow citizens.” He said according to a rough translation. He then added that he wants to bring the tech into the whole Europe as it can help in supervising the supply chain.

The president also called upon farmers and other agricultural institutions to seize the opportunity in improving the conditions for Africa by promoting technological innovation and raising standards.

Although the speech did not plunge in much details about blockchain and its implementation, the administration announced plans to invest $700 million in blockchain technology and artificial intelligence and data mining.