The Impact of Blockchain Technology on Transparency and Traceability in the Supply Chain of the Food Industry

Abstract

Abstract: This thesis explores the revolutionary potential of blockchain technology, emphasizing its implications for improving transparency and traceability. Food safety, authenticity, and sustainability are major issues that the food industry must deal with. These issues can have a big impact on customer confidence and safety. In order to properly handle these issues, traditional supply chain systems frequently lack the traceability and transparency features that are required. But blockchain technology provides a decentralized, immutable database that safely and transparently records transactions, which is a promising option. This study investigates the theoretical underpinnings and real-world uses of blockchain technology while conducting a critical analysis of the state of the food industry's supply chain using secondary data from published academic articles. It assesses the effect of blockchain technology on improving transparency and traceability in food supply chains by combining findings from other academic publications, taking into account elements like data integrity, information sharing, and stakeholder participation. This thesis emphasizes how blockchain technology has the possibility to revolutionize supply chain transparency and traceability in the food business. Through the utilization of blockchain's intrinsic characteristics, such decentralization and cryptographic security, stakeholders can augment consumer trust, alleviate hazards, and cultivate increased accountability along the food supply chain