Blockchain Application for Sustainable Supply Chain Management in Indian Agriculture

Abstract

Increasing demand for transparency in agri-food through customer expectation and regulatory imposition has fostered a swift adoption of blockchain technology. Demand for transparency is rising in the agri-food industry driven by consumer expectations and regulatory requirements, which has fast-tracked the adoption of blockchain technology. It creates innovative solutions to augment traceability and combat food deception, while also informing consumers about their origin. Blockchain is by nature trusted and immutable; thus, it is well suited for agri-food stock chains. Considering that the transactions on such supply chains have to be safe and transparent, the existing Smart contract technology based on Ethereum is being improved. Even if updating is difficult and disruptive, the topic of data migration and its users is growing more difficult. This has led most of the agri-food sector migration to Binance Smart Chain (BSC). BSC offers the benefits of confirmation times for transactions, a more efficient consensus mechanism, and thus better scalability. On the latter aspect, use of BSC will eventually ease the updation of smart contracts, thereby upgrading the entire speed and reliability of blockchain solutions for ensuring transparency and traceability in a supply chain.