Abstract
The blockchain is a ledger of accounts and transactions that are written and stored by all participants. It promises a reliable source of truth about the state of farms, inventories and contracts in agriculture, where the collection of such information is often incredibly costly. The blockchain technology can track the provenance of food and thus helps create trustworthy food supply chains and build trust between producers and consumers. As a trusted way of storing data, it facilitates the use of data-driven technologies to make farming smarter. In addition, jointly used with smart contracts, it allows timely payments between stakeholders that can be triggered by data changes appearing in the blockchain This article examines the applications of blockchain technology in food supply chains, agricultural insurance, smart farming, transactions of agricultural products for both theoretical and practical perspectives. We also discuss the challenges of recording transactions made by smallholder farmers and creating the ecosystem for utilizing the blockchain technology in the food and agriculture sector.
Highlights
The use of data and information becomes increasingly crucial for the agriculture sector to improve productivity and sustainability
Blockchain is a transformative Information and Communication Technology (ICT) that have the potential to revolutionized how data is used for agriculture
Payments can be made timely and automated based on weather data that triggers the payout as defined in a smart contract
Summary
The use of data and information becomes increasingly crucial for the agriculture sector to improve productivity and sustainability. Information and Communication Technology (ICT) substantially increases the effectiveness and efficiency of collecting, storing, analyzing and using data in agriculture (Walter et al, 2017). Remotely sensed data on soil conditions can support farmers’ crop management (Brown, 2015), mobile phones reduce information cost and promote farmers’ access to markets and financial support (Kaske et al, 2018), and the development of Global Positioning System (GPS) facilitates filed mapping and machinery guidance and crop scouting (Yousefi and Razdari, 2015)
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