Rebuilding the Food Supply Chain by Introducing a Decentralized Credit Mechanism

Abstract

Although a mechanism for trust in agricultural product transactions has systems and laws to endorse contracts, the credit relationship and security mechanism lack sufficient trust. Currently, an RFID traceability system is used to solve the problem that how to read and protect data, but the situation is such that the data can be tampered with, thus considerably lowering security. Blockchain technology, which is a distributed, shared, and encrypted database, however, can be used for such security. Through distributed accounting, a decentralized credit system can be established to enhance data security, which is a new mode to save time and costs. In this paper, the problems of the food supply chain system are systematically reanalyzed in the framework of traditional food supply chain systems. In addition, after analyzing the characteristics of blockchain technology, a decentralized credit mechanism for the food supply chain is proposed. The traceability of agricultural products based on the blockchain can realize fast and secure authentication permissions and achieve data security in which data cannot be tampered with or forged from anti-counterfeiting, and information privacy is protected.