Blockchain Technology in Animal Trade Revolutionizing Accountability and Traceability for Ethical Practices [Autosaved].pptx

Blockchain Technology in Animal Trade Revolutionizing Accountability and Traceability for Ethical Practices

1. Blockchain Technology in Animal Trade: PRESENTATION ON Presented by: TC-11 VISHWJEET KUMAR CHOUDHARY VIDHIUTSAV CONFERENCE 2024 Revolutionizing Accountability and Traceability for Ethical Practices ASSAM UNIVERSITY, SILCHAR

2. Blockchain Technology Overview Blockchain is a decentralized, distributed ledger technology that enables secure and transparent record-keeping. It uses cryptographic techniques to ensure the integrity and immutability of data.

3. What is Blockchain? Blockchain is a decentralized, distributed ledger that records transactions across multiple computers, ensuring transparency and security. Each block in the chain contains a cryptographic hash of the previous block, making the data tamper-proof and immutable. Blockchain enables the use of smart contracts, self-executing contracts with the terms of the agreement directly written into code. IMMUTABLE RECORDS DECENTRALIZED LEDGER SMART CONTRACTS

4. Advantages of Blockchain Blockchain provides a transparent and traceable record of transactions, enhancing accountability and reducing the risk of fraud. The decentralized nature of blockchain ensures that data is secure and trustworthy, reducing the need for intermediaries. Blockchain technology allows for global accessibility, enabling stakeholders to access real-time data and information. TRANSPARENCY AND TRACEABILITY SECURITY AND TRUST GLOBAL ACCESSIBILITY

5. Benefits of Blockchain in Animal Trade Blockchain can provide immutable records of animal transactions, enabling stakeholders to track the origin and movement of animals. It also facilitates transparent audits and ensures trustworthy certifications.

6. Current Challenges The animal trade industry is plagued by issues such as poaching, illegal trafficking, and lack of transparency. These challenges have led to a global demand for greater ethical accountability in the industry.

7. Scalability Energy Consumption The scalability of blockchain technology remains a challenge, especially when dealing with a large volume of transactions. The energy-intensive nature of blockchain operations raises concerns about its environmental impact. Regulatory Uncertainty The evolving regulatory landscape for blockchain technology poses challenges for its widespread adoption in various industries.

8. Smart Contracts Blockchain-based smart contracts can automate and enforce ethical standards in animal trade, ensuring that all parties adhere to predefined rules and conditions, thereby promoting accountability.

9. Ethical Considerations The implementation of blockchain in animal trade raises ethical considerations related to privacy, data ownership, and fair access. Addressing these concerns is essential for responsible deployment.

10. Data Integrity and Security Blockchain's immutable nature and cryptographic security measures safeguard animal trade data from tampering and unauthorized access, enhancing data integrity and privacy.

11. Industry Collaboration Blockchain fosters collaboration among stakeholders in the animal trade industry, promoting shared responsibility and enabling collective efforts to combat unethical practices and promote sustainability.

12. Global Impact The adoption of blockchain in animal trade can have a global impact by reducing illegal activities, promoting conservation, and fostering a culture of ethical and sustainable trade.

13. Implementation Strategies Developing clear implementation strategies, fostering industry partnerships, and engaging in educational initiatives are essential for effectively integrating blockchain into the animal trade ecosystem.

14. Data Integrity and Security Blockchain's immutable nature and cryptographic security measures safeguard animal trade data from tampering and unauthorized access, enhancing data integrity and privacy.

15. Case Studies Walmart's Blockchain Pilot for Food Traceability In 2016, retail giant Walmart partnered with IBM to pilot a blockchain-based food traceability system. While not directly related to the animal trade industry, this initiative demonstrated the potential of blockchain in tracking food products from farm to table. By using blockchain technology, Walmart aimed to improve transparency, reduce food waste, and enhance consumer trust by providing detailed information about the origin and journey of food items, including meat products sourced from animals.

16. Future Trends The integration of blockchain with the Internet of Things (IoT) is expected to enhance real-time tracking and monitoring in various sectors, including animal trade. Efforts to improve interoperability between different blockchain platforms are underway, aiming to create seamless data exchange and collaboration. INTEGRATION WITH IOT INTEROPERABILITY Innovations in blockchain technology are focusing on sustainable practices to address the energy consumption concerns. SUSTAINABILITY INITIATIVES

17. Conclusion Blockchain technology offers a transformative solution for promoting ethical accountability in the animal trade industry. Its potential to drive transparency, compliance, and consumer empowerment positions it as a catalyst for positive change.

18. Thank You