IDEO

The logistics industry is seriously talking about a virtual currency like Bitcoin, which could open up an array of new markets, while speeding the worldwide exchange of goods.

Currency comes in many forms. In the early days of humanity, anything of value could be traded or bartered, but modern societies soon saw the need for a more universal approach.

No mechanism exists to make payments over a communications channel without a trusted party - what is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.

Inspired by the bitcoin blockchain, Thingchain, and smart contract platforms, we examine how these technologies might change one particular supply chain: the food chain.