In this episode, Armen Harutyunyan, our Senior Advisor, spoke with Gary Loh (Founder of DiMuto) and Raymond Yeh (Blockchain Developer of GovTech Singapore) about how blockchain is applied for international trade, supply chain management and product traceability, and why and how private and public institutions should use it.
1:40 Introduction of speakers
3:45 How does blockchain technology disrupt international trade?
6:10 Why should public and private institutions invest in blockchain?
8:14 Why should private or public sector institutions give up centralisation and migrate to decentralisation?
15:16 Gary shares why DiMuto hasn’t gone for full decentralisation
17:26 Raymond shares his perspective on decentralisation from a government’s perspective
24:22 What’s the capacity of blockchain in terms of its speed and cost limitations?
28:16 What are the challenges of scaling up blockchain technology if the technology is ready?
33:37 Should governments be the driving force behind scaling blockchain technology for food traceability?
42:00 Raymond explains Layer-Two solutions and how it works in blockchain systems
48:18 How does DiMuto’s solution minimise the issue of food fraud?
51:34 Raymond shares his take on the availability of technologies with a wider coverage to tackle the issue of accountability
58:26 Conclusion
This episode is also available as an audio-only podcast on Spotify: https://open.spotify.com/show/1qGJoq9LfcVzaJA7wYGQsI?si=JUxAJB-tQ8ilQLI_EHI8qQ
The Digital Feed 🌱, in partnership with SGInnovate, is a multi-episode series which will feature developments and trends across various stages of food value chains — from food production and supply to consumption and food science. Subscribe to our YouTube channel to be updated on the latest episodes.