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French President urged Europe to use blockchain to innovate the agriculture industry

French President urged to use blockchain to innovate the agriculture industry

On Saturday, French President Emmanuel Macron spoke at the 56th International Agriculture Fair in Paris, where he said about the need to use blockchain technology to improve supply chain management in the European agricultural sector.

Macron called on European countries to unite to struggle for world markets with Chinese, Russian and American competitors. He also stressed the importance of compliance with the EU’s Common Agricultural Policy (CAP).

The French President has identified three broad strategies to advance the continent’s agricultural industry and maintain a competitive edge, adding that "neither farmer or consumer does not want to be subjected to the dictates of non-European countries". Among the proposed strategies was the call for innovation that will help to implement these avantgarde technologies like blockchain.

Macron said:

"Let's use the vanguard tools for the development of agricultural technology that will track every product, from the extraction of raw materials to processing and packaging. Innovation exist, and they should be used in the agricultural industry to improve the quality and satisfaction of consumers."

He added that blockchain can ensure the transparency of agricultural production and distribution to assuage mounting consumer concerns about products’ provenance and sustainability.

In addition to discussing environmental policy within the CAP, the Makron also focused on the possibilities of joint development in Africa, calling on France "to export their know-how" and strengthen emerging markets.

Emmanuel Macron, former executive position in the telecommunications industry, from the first days of his presidency, was actively supported by digital innovations, seeing them as a tool to reform French administration and to stimulate the national economy. In 2017, he promised to transform France into a startup nation, in which he was supported by Minister of Economics and Finance Bruno Le Maire, who declared that the country is ready for a blockchain-revolution.

Currently blockchain is gaining popularity in different countries as a tool for improving agriculture. Experts predict that by 2023 blockchain in the agriculture market would be worth over $400 million.


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