Detecting the provenance of price hike in agri-food supply chain using private Ethereum blockchain network

Abstract

The rise in the cost of essentials affects every nation around the world, but it has become a major concern for developing nations. It is getting increasingly difficult to keep up with rising prices for everyday items in these countries, where the majority of the population is from the middle class or lower middle class. Inflation, pandemics, wars, and other important variables all contribute to price increases. There may be another significant factor at play, which is supply-chain corruption. The supply chain's unreliable, chaotic, and opaque nature is to blame for this corruption. We are concentrating on the agri-food supply chain in our study. Because many of the current agri-food supply chains are intricate and challenging to monitor, dishonest parties can exploit the situation. Therefore, we suggested a thorough blockchain-based agri-food supply chain to identify the source of price increases. The private Ethereum blockchain was used in the suggested system. Since the private Ethereum blockchain is more efficient, safe, and fast, it was chosen. Smart contracts were created to describe the system and its underlying rules and laws. Furthermore, in order to showcase the usefulness of our smart contracts, we exhibited a sample decentralized application to support our hypothesis. We also gave the system a complete security and vulnerability assessment to make sure it is operating properly and is protected from threats and attacks. Due to the use of blockchain, the system is immutable, transparent, and simple to track and monitor. The proposed system has demonstrated greater transparency, traceability, reliability, speed, security, and cost-efficiency compared to conventional systems. It effectively traces the origin of corruption in the supply chain, providing a more straightforward means to tackle concerns related to price hikes.