Abstract
The credibility of information is known as a major cause of a wide range of issues, such as: altered product information in food supply chains; fake transactions on E-commerce platforms; lengthy claim settlement time in agricultural insurance; and costly borrowings in agricultural financing. For a more specific example in food supply chains, end customers want to check the product information, but either doubt the authenticity of information, or simply do not have access to the information. The reason is that upstream suppliers and downstream retailers are often reluctant to share data, fearing privacy loss or business secret leakage. The consequence is that regulatory departments may face enormous challenges to identify accurate contamination sources, if there is scarce information or falsely recorded information at any stage of the food supply chain. In this paper, we focus on four common scenarios demanding information credibility in the agricultural supply chain: product traceability, E-commerce platforms, agricultural insurance, and agricultural financing. We review some high-profile smart credibility applications with emphasis on how blockchain related technologies can provide the information credibility by examining extant issues and relevant frameworks.
Highlights
Credibility issues arise along the agricultural supply chain, such as the authenticity of product information or the risk assessment of agricultural stakeholders’ financing applications
Four popular applications of information credibility along the agricultural supply chain are investigated in this paper
This paper focuses on the permissioned blockchain, and proposes a possible approach to access blockchain business applications in agricultural supply chains
Summary
Credibility issues arise along the agricultural supply chain, such as the authenticity of product information or the risk assessment of agricultural stakeholders’ financing applications. Financial institutions need to obtain comprehensive and reliable data from borrowers to reduce the risk of loan defaults, which conventionally is a very costly process The reason for this lies in the lack of valid collaterals for upstream agricultural producers, and the lengthy payment cycle in agricultural supply chains [4]. Information sharing and tracing for agricultural products have transformed greatly with the help of information technologies, such as distributed databases, encryption algorithms and automation process. Despite advances in such solutions, problems still persist, which are partly due to the increasing complexity across supply chains.
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