Blockchain-Based Food Supply Chain Management

Abstract

Blockchain is an emerging technology that is based on the concept of distributed ledgers. It allows for pervasive transactions among different parties and eliminates the need for third-party intermediaries. Several of blockchain's characteristics make it suitable for use in the agriculture sector. Some of the potential applications of blockchain include efficient management of the food supply chain and value-based payment mechanisms. The products of agriculture are usually the inputs for a multi-actor distributed supply chain, in which case the consumer is usually the final client. The food chain involves several actors including farmers, shipping companies, distributors, and groceries. This makes the entire system to be distributed with multiple actors playing different roles throughout the chain. This currently used system is inefficient and unreliable in various aspects. This project aims to leverage blockchain technology to solve and address discrepancies involved in food supply chains.