FARMSUPPLY: Food Supply Chain Management using Blockchain Technology

Abstract

The Distributed Ledger Technology (DLT) that underpins various crypto currencies may have a profound impact on the global economy. The Supply Chain Management (SCM) is one of the areas where the DLT is currently being used. By using the Distributed Ledger Technology, blockchain has the potential to vastly enhance different supply chains by facilitating faster and more cost-effective delivery of products. The main benefits of using blockchain in SCM is that it provides an enhancement technique for products traceability, improves coordination among the producer, manufacturer, distributor, retailer and consumer. Also, facilities easier access for funding. In the recent years, the Food Supply Chain (FSC) has been using the blockchain to utilize the benefits of SCM and provide better results for the Food Supply Chain. In this paper, a model is proposed, FARMSUPPLY, which uses blockchain in a Food Supply Chain to provide a better view of farmers, products and retailers. In this model, a Ethereum blockchain method and smart contract for the verification and validation of various attributes at each stage of the food supply chain is presented.