Clearly defined ownership of property is one of the cornerstones of a developed market economy. Property is something owned, and something owned must be accurately tracked. The more accurate the tracking of property, the fewer discrepancies there are over who has the highest ownership claim.Similar to commodities, physical property such as land or real-estate are exogenous assets. These assets have a physical form that exists outside of the database that keeps track of ownership.Food and shelter are essential components within a person\u2019s hierarchy of needs, so it comes as little surprise that accurate record-keeping of these critical assets has been a feature of record-keeping since its inception. Some of the earliest written records describe amounts of grain tributed from each farm to the Babylonian crown.Photo by Tyler Mullins on UnsplashModern experimental asset tracking in the form of DLT applications may seem far removed from humanity\u2019s early, rudimentary forms of property management. However, billions of people must be fed and sheltered. Thus, the essential components of agriculture and real estate remain for our species: these industries are worth roughly $5 trillion and $8.9 trillion, respectively.The combined value of $13.9 trillion is no paltry sum, so it is perhaps unsurprising that many innovative companies explore potential use cases for DLT applications in agricultural and real estate management. The next two installments to our series on exogenous distributed ledger applications will cover the companies applying this new technology in the agricultural and real estate industries.The traceability of agricultural products is an ever-increasing feature in our globalized economy. Our previous article on exogenous DLT systems explored how this technology can positively impact bottom-line delivery times through communication optimizations. These enhancements are doubly crucial for agricultural products, many of which have a clearly defined half-life and begin losing nutritional value at the time of harvesting.One\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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