Assessment of Usefulness of Block Chain Technology for Agriculture Application

Abstract

Abstract: Agriculture is one of the most important sectors in any country. Increase in population all around the world has led to the need to increase the agricultural produce in the farms. To keep up with the growing demands, the agricultural sector is using IT based solutions like softwares, IOT etc. This technology shift has led to many problems as the farmers and the consumers are not aware of the technologies used and there is a possibility of mishandling of data by major stakeholders. Does there is lack of transparency and reliability on the systems used. This has led to financial Exploitation and adulteration in the agricultural industry. New technologies like blockchain can be used efficiently to prohibit such financial exploitation and adulteration. This project uses blockchain Technology the two track all the transactions that take place in the food chain from farmer to the end consumer. The system is made reliable due to the fact that underlying blockchain technology is very secure and hack proof. The data is stored very reliably on each participant's computers so that the data is available with transparency to each user. The underline blockchain Technology makes it possible to add new data into the blockchain and update the participants with the latest data as soon as possible. The project intends to raise alerts whenever any participant is found exploiting the system with higher margins than the threshold. The end consumer can trace back the food chain and hence any possibilities of adulteration or frauds can be traced back into the entire system. Keywords: Blockchain, Foodchain, Agriculture, Application, Tracking, Transparency,