Bridging the governance gap in agricultural blockchain-based smart contracts: a bibliometric-driven architectural framework

Operational and Strategic Value of Blockchain Technology: Integrating Smart Wholesale Contracting with Realtime Market Shift Analysis

The digital fashion industry is undergoing a major transformation with the integration of technologies such as blockchain and smart contracts, which offer solutions to key challenges such as product authenticity, intellectual property protection, and supply chain efficiency. This research focuses on the application of blockchain technology and smart contracts in digital fashion entrepreneurship, with the aim of increasing transaction efficiency, product security, and business sustainability. Method used in this study is a quantitative approach with a structural model based on Partial Least Squares Structural Equation Modeling (PLS-SEM) to test the influence between smart contract adoption, digital transaction efficiency, product security, and fashionpreneurship sustainability. Data were collected from digital fashion actors involved in the blockchain-based ecosystem. Research result shows that the adoption of smart contracts has a positive effect on transaction efficiency and product security. In addition, blockchain has been shown to increase supply chain transparency that supports the sustainability of digital fashion businesses. Although this technology faces technical challenges such as high transaction speed and costs, solutions such as layer-2 technology can improve blockchain performance. The conclusion blockchain and smart contract technology can be an effective solution in increasing efficiency, security, and sustainability in the digital fashion industry. Although there are technical challenges that need to be overcome, the application of this technology has great potential to create a more environmentally friendly and transparent digital fashion ecosystem.

Blockchain is an emerging technology which works on decentralized peer-to-peer network and allows to make transactions securely by eliminating the need of a central authority. Blockchain is renowned for exchange of crypto-currencies but with the advent of smart contracts it is now widely used in other applications such as smart supply chain, healthcare, smart transportation, online voting, public donations, will management, buying and selling property and insurance sector. The smart contracts are digitally signed and make applications immutable and transparent. This paper is aimed at unveiling Blockchain technology, smart contracts and its applications. This paper is also disclosing the barriers in adopting Blockchain and smart contracts. The recent literature was reviewed to find the answers to the research questions. Huge power consumption, slow transaction rate, complex architecture and lack of awareness and expertise are identified as the barriers in Blockchain adoption whereas legal issues and high transaction cost are the main barriers in adopting smart contracts.

In the field of supply chain, due to the involvement of multiple business entities, incomplete credit mechanism and information asymmetry have been the difficulties in supply chain that need to be solved. With the development and advancement of blockchain technology, the core technology in blockchain - smart contracts - has attracted much attention. The technology automates the execution of contracts on the blockchain in the form of code, allowing trusted transactions to take place without a third party, which are traceable and irreversible. The technology involves collaboration between different fields such as computer science and laws, but most traditional professionals lack programming skills, resulting in the current application of smart contracts can not meet cross-industry demand. This paper propose a method to generate smart contracts automatically. Users can model the contract by OWL(Web Ontology Language) and write SWRL(Semantic Web Rule Language) semantic rules to describe contract. Then use recursive descent analysis to implement a LL(1) syntax parser that recognises SWRL and generates the corresponding smart contract code based on the semantic rules of SWRL. The contract management module allows users to generate, install and manage smart contracts directly from the front-end page, which lowers the threshold for users to manage the blockchain network. We validate the usability of the contract generation and management module using the compliance inspection of RMC (ready-mixed concrete), which is based on HyperLedger Fabric. The system can generate smart contract code that corresponds logically to the quality specification.

Blockchain and smart contracts in supply chain management: A game theoretic model

The demands for the fairness, security, and efficiency of the supply chain have grown significantly due to the rise of globalization. However, some problems of the information flow, logistics, and capital flow in the supply chain remain a challenge, such as the information asymmetry between upstream and downstream, substandard quality of goods, difficulty in traceability, and default of payment. Therefore, this paper proposes a blockchain-based supply chain framework (SESCF), which solves the supply chain problems securely and efficiently. First, the use of blockchain and smart contracts ensures the information symmetry in the supply chain system. Second, the radio frequency identification (RFID) provides a unique identity of goods, which helps in real-time quality monitoring. Additionally, the immutability and distributed storage of the blockchain play an important role in tracking the origin of goods. Third, the efficient payment channel is used to solve the problem of payment defaults. Furthermore, simulations of smart contracts along with the security analyses are presented in this paper. We also implement a blockchain-based supply chain system (SescfDapp), which is built upon a Consortium blockchain. Large-scale experiments and detailed analysis prove the feasibility and efficiency of our proposed system.

Current research on smart contracts focuses on technical, conceptual, and legal aspects but neglects organizational requirements and sustainability impacts. We consider this a significant research gap and explore the relationship between smart contracts and sustainability in supply chains. First, we define the concept of smart contracts in terms of supply chain management. Then, we conduct a content analysis of the literature to explore the overlapping research fields of smart contracts and sustainability in supply chains. Next, we develop a semi-structured assessment framework to model the potential environmental and social impacts induced by smart contracts on supply chains. We propose a conceptual framework for supply chain maturity by mapping the relationships between organizational development, sustainability, and technology. We identify smart contracts as a foundational technology that enables efficient and transparent governance and collaborative self-coordination of human and non-human actors. Thus, we argue that smart contracts can contribute to the economic and social development of networked value chains and Society 5.0. To stimulate interdisciplinary research on smart contracts, we conclude the article by formulating research propositions and trade-offs for smart contracts in the context of technology development, business process and supply chain management, and sustainability.

The article analyzes the positive and negative aspects of the use of smart contracts in various business areas, which respectively give it an advantage or disadvantage compared to traditional civil law contracts. It has been determined that due to the automatic execution of the transaction, as soon as the agreed conditions are fulfilled, smart contracts allow eliminating or minimizing a number of transaction costs that accompany traditional contracts. When using a smart contract, the possibility of improper execution by one of the parties is practically eliminated, since it cannot be violated. It is the difficulty of modifying or terminating smart contracts that is an advantage over other contractual structures. The complexity of changing and terminating smart contracts is a guarantee of their stability and the immutability of the contractual terms that were originally agreed by the parties. But at the same time, smart contracts, eliminating some of the problems of traditional contracts, create new ones when using them. The article also notes that smart contracts are distinguished by both vulnerability in computer code and insufficiently effective legal regulation. The problem of oracles when using smart contracts is considered, which consists in the need to trust the information received from them. It is concluded that due to the vulnerability of a smart contract, like any modern digital technology, the existence of a written original of the contract, subsequently expressed in a smart contract, will make it much easier for the parties to use both judicial and extrajudicial methods to protect their rights. It has been noted that due to the growing use of smart contracts in civil circulation, the number of disputes arising in connection with this, considered both in state courts and in non-state bodies (arbitration courts), will also increase.

Blockchainsand smart contracts are pivotal in transforming interactions between systems and individuals, offering secure, immutable, and transparent trust-building mechanisms without central oversight. However, Smart Contracts face limitations due to their reliance on blockchain-contained data, a gap addressed by ’Oracles’. These bridges to external data sources introduce the ’Oracle problem’, where maintaining blockchain-like security and transparency becomes vital to prevent data integrity issues. This paper presents Veritas, a novel decentralized oracle system leveraging a layer-2 scaling solution, enhancing smart contracts’ efficiency and security on Ethereum blockchains. The proposed architecture, explored through simulation and experimental analyses, significantly reduces operational costs while maintaining robust security protocols. An innovative node selection process is also introduced to minimize the risk of malicious data entry, thereby reinforcing network security. Veritas offers a solution to the Oracle problem by aligning with blockchain principles of security and transparency, and demonstrates advancements in reducing operational costs and bolstering network integrity. While the study provides a promising direction, it also highlights potential areas for further exploration in blockchain technology and oracle system optimization.

ABSTRACTBlockchain technology, when combined with smart contracts, enables buyers to distinguish between greenwashed and genuinely eco‐friendly products. The presence of counterfeit items can severely impact supply chains by diminishing brand value, eroding consumer confidence, and undermining market trust. This article explores how smart contracts can help mitigate the circulation of counterfeit goods and safeguard brands by establishing institutional trust through tamper‐proof data, enhanced transparency, and improved traceability. Information asymmetry on digital marketing platforms significantly contributes to the proliferation of greenwashed counterfeit goods. We introduce an infection‐leakage model based on anecdotal case evidence to explain the interactions between different market types. The transition from relying solely on traditional written contracts, certifications, and brands to incorporating blockchain and smart contract technology is analyzed for its potential to strengthen supply chains and curtail the spread of counterfeit greenwashed products. Blockchain technology provides consumers with detailed product information, empowering them to choose authentic green products over counterfeit “lemons.” Our theoretical framework suggests that this shift to blockchain smart contracts can reduce the transaction costs associated with counterfeit infiltration, thereby protecting brands and the intellectual property rights of authentic sustainable products.

The core of blockchain smart contracts is the execution of business logic code in a decentralized architecture with all executing nodes trusting and agreeing on the results. Smart contracts are unable to get data from the outside world on their own. Smart contracts communicate with oracles, which are off-chain data sources whose primary function is to collect and give data feeds to smart contracts. The usage of oracle returns the blockchain to its centralization problem and also exposes the blockchain to the possibility of introducing corrupt, malicious and erroneous data. This problem is called ‘Oracle problem’. This paper presents an investigation of this problem. To demonstrate this, we have considered the price oracle problem using chainlink’s decentralized network of nodes that connects off-chain data to on-chain smart contracts through oracles. Finally, we performed an analysis and comparison on retrieving external off-chain data through external APIs (Application Programming Interfaces) and through decentralized oracles. This would be helpful in determining how decentralization (through oracles) may result in performance constraints in contrast to fetching data through our own built APIs where data source APIs of blockchain are not connected to the decentralized nodes of network. The results have shown the increase in transaction throughput of the overall system.

The global agricultural sector is under increasing pressure from population growth and climate change, driving the transition toward Agriculture 4.0. Although technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI) have improved on-farm productivity, supply chains remain constrained by inefficiencies, information asymmetry, and significant post-harvest losses. This paper presents a comprehensive analysis of blockchain as a decentralized solution to these challenges. The study adopts a Human-Cyber-Physical Systems (H-CPS) perspective to examine how blockchain integrates physical agricultural operations with secure, transparent digital infrastructures. Key applications are analyzed across the value chain, including digital soil passports, seed traceability, cold-chain monitoring, and automated financial settlements via smart contracts. Additionally, the synergy between blockchain and emerging technologies, such as AI-driven predictive maintenance and swarm robotics, is explored. Unlike prior reviews, this work proposes a unified H-CPS-based architecture that integrates blockchain with AI, IoT, and robotics, providing a system-level perspective rather than isolated technological analyses. This integrated framework supports the development of transparent, resilient, and sustainable agri-food ecosystems while addressing challenges such as the Oracle Problem and rural digital constraints.

Supply Chain Management, Blockchains and Smart Contracts

Problem definition: Smart contract improves the supply chain efficiency by enabling the supplier’s commitment to postshipment financing decisions, which mitigates the bank’s lending risk exposure and thereby reduces the financing cost. This paper investigates how smart contract adoption could facilitate trade finance activities and create value for supply chain firms. Academic/practical relevance: As the emerging blockchain technology could potentially reshape the trade financing landscape, understanding the impact of smart contract adoption and its interaction with trade finance activities is practically relevant and of great importance. Methodology: We develop a two-stage game-theoretic model and adopt supply chain finance theory to characterize the strategic interactions between supply chain firms in the presence of both operational risk (demand uncertainty) and financial risks (credit and liquidity risks). Results: We find that the value of smart contract depends critically on the trade finance structures, including both preshipment and postshipment financing schemes. Under the baseline trade finance model (with purchase order financing as preshipment financing and factoring as postshipment financing), smart contract alleviates the supplier’s overpricing behavior caused by commitment frictions and helps restore the supply chain efficiency. When buyer direct financing serves as an alternative preshipment financing, smart contract might discourage the retailer from offering buyer direct financing, which significantly hurts the supplier and thus reduces the supply chain profit. When invoice trading serves as the alternative postshipment financing, the supplier always chooses invoice trading over factoring because of its trading flexibility, which in turn, makes the commitment frictions ubiquitous and unresolvable (namely, commitment trap). As a result, invoice trading could unexpectedly lead to a lower supplier’s profit. Luckily, such an adoption dilemma can be resolved by smart contract adoption in conjunction with factoring. Managerial implications: Our findings provide guidelines for and insights into when smart contract should be adopted and its interactions with different trade finance schemes. In particular, smart contract adoption does not always benefit the supply chain.

This review identifies and analyzes constraints in groundnut marketing systems, particularly for smallholder farmers in developing regions. It proposes strategies to enhance efficiency, profitability, and sustainability, thereby improving farmers' livelihoods. A comprehensive literature review of academic journals, policy reports, and case studies identifies key constraints in groundnut marketing. The review utilizes a structured conceptual framework that encompasses supply chain structure, market dynamics, institutional and policy environments, socioeconomic factors and draws on theoretical foundations such as Transaction Cost Economics, Value Chain Analysis, Market Structure-Conduct-Performance Paradigm, Rural Livelihoods Framework, and Supply Chain Risk Management. The study also applied economic and supply chain management theories to groundnut marketing, emphasizing the relevance of Transaction Cost Economics, Value Chain Analysis, and the Market Structure-Conduct-Performance Paradigm. This theoretical framework can be adapted for other agricultural commodities facing similar constraints. The review identifies critical constraints in groundnut marketing, including fluctuating market prices, inadequate storage facilities, limited access to credit, lack of market information, and high transaction costs. These are exacerbated by poor infrastructure, fragmented supply chains, and socioeconomic barriers, indicating the need for holistic, context-specific interventions. The review suggests practical interventions including investment in infrastructure development, enhancing market information accessibility through digital platforms, fostering farmer cooperatives, and implementing price stabilization mechanisms. These measures can empower smallholder farmers, improve market access, and increase profitability. Policymakers, development agencies, and private sector stakeholders can leverage these insights to formulate targeted support programs for groundnut farmers.