An innovative blockchain-based supply chain model in the context of food security

Abstract

The problem of food security has rapidly escalated due to numerous food adulterations and rising prices of socially important foods, as well as the general growth of the supply chain network in recent years, thereby increasing levels of food waste. Since the recent evolution of the technology, blockchain promises a high potential ability to guarantee and track the originality of products, also effectively managing the supply chain. Moreover, blockchain has been recognized as one of the eight major technologies that can change our lives if used in the right direction for the benefit of society and countries' economies. In Kazakhstan, there is a lack of infrastructure to support food supply, as well as a number of issues regarding increased control over prices by the government. The purpose of this study is to identify the benefits of blockchain, which facilitates the effective management of the food supply chain, the ability to meet the needs of all stakeholders, and a comparison with the traditional supply chain system. The article uses factor analysis, taking into account economic, political, social, technological interests, through which the existing problems at the moment are uncovered. The results show that the application of blockchain in the food supply chain leads to positive demand from the government, producers and end consumers. The value of the work lies in the theoretical study, which drew on the experience of recent research around the world, adaptation in Kazakhstan and the possibility of application in the context of food security. This work contains many touched upon economic aspects and can serve as a basis for further research.