Blockchain Eco-System for Thai Insect Industry: A Smart Contract Conceptual Framework

Abstract

As the world population is increasing day by day, providing food for this increasing population is a difficult task due to climatic changes and related water shortage. To meet the nutrition and food challenges of today, the world is nowadays looking for a new food source other than animals and plants as some of the most common food sources. As a future perspective, the research community is now eyeing the use of insects as a future food source. Despite some existing markets, Thailand has the highest edible insect species in the world. The disruptive technology has been playing the leading role to promote competitiveness for small businesses recently. It is, therefore, in this paper, a blockchain ecosystem for Thai insect industry is proposed to create a credible and traceable insect business in Thailand. Additionally, the smart contract is mainly used for creating a transparent and reliable insect business in the modern world.