How can blockchain technology be utilized in agriculture?

Blockchain technology can significantly enhance transparency and traceability in the food supply chain by providing a decentralized and secure method for recording transactions and tracking products. Each step of the agricultural process, from the farm to the consumer, can be documented on a blockchain, allowing all participants in the supply chain to access the same information in real-time. This creates a reliable record of where food products have been, how they were produced, and any changes that have occurred during their journey to market.

This capability is particularly crucial for addressing food safety concerns, enabling quicker responses to contamination outbreaks, and reassuring consumers about the provenance of their food. By using blockchain, each stakeholder, including farmers, processors, distributors, and retailers, can maintain their own verified records while contributing to an overall picture that enhances accountability and reduces fraud.

The other options do not accurately reflect the primary use of blockchain technology in agriculture. Genetic modification, lowering fertilizer costs, or replacing traditional retailing involves different approaches and technologies, which are not inherently linked to the decentralized and transparent nature of blockchain.