New tech comes with a lot of buzz, bad ideas, and opportunity
So a lot of the work I do for DataHarvest is focused on tracking food on a blockchain. There are several well funded projects that are doing the same. Honestly, from the outside it seems a little crazy to compete with the companies that are tossing their weight around in this space. I would think the same thing, but I will tell you why we are here. I have watched everyone of these corporate backed projects outright lie about what they have or what they are building. I don’t know about you, but when I see/hear that…I know there is an opportunity.
Just like we are seeing people debate the value of the decentralized application of currency, we are going to see the same thing when it comes to food. If you have spent anytime building or even thinking about the impacts of blockchains you will likely feel that there is an inescapablilty to the idea that something as important as food will end up being tracked this way. I think the battle that is being prepared is about what type of ledger will be adopted.
Public vs Private blockchains
I was really interested in the Hyperledger projects. In particular, Sawtooth had caught my eye with the proof of elapsed time(PoET). I still think it is an innovative idea and I continue to track it. The features that have lost my confidence have more to do with how it is being used. The biggest projects are built as private or permissioned projects. As we are watching the features of systems like this debated with the Libra project, pay attention. IBM Food Trust is basically Libra for the food suppliers.