What is meant by Block Chain Technology? What are its applications? Applications of BCT in Agriculture

1. COLLEGE OF AGRICULTURE , RAICHUR .
DEPARTMENT OF AGRICULTURAL EXTENSION EDUCATION
SEMINAR-2
APPLICATIONS OF BLOCKCHAIN TECHNOLOGY IN AGRICULTURE

2. INTRODUCTION
Third industrial
revolution
Fourth industrial
revolution
First industrial
revolution
helped us to move from
an agrarian society to
one where more tasks
were mechanized
Agriculture experienced
many advances like green
revolution with HYV’s and
satellite technology,
biotechnology advances
enabling farmers to record
and analyse their production
Improvement in
transportation, helped
farmers to move the
produce and farming
machinery and expanding
their markets making
farms more eficient
combined internal and
external interaction of
farming operations.
integration of production
technologies & devices,
information & communication
systems, data and services in
network infrastructure.
Second industrial
revolution

3. Problems in Agriculture
with an elevated popoulation growthg reaching 10 billion by 2050,
there is a need of increased food production
 More demand for food
variability in temperature and precipitation reduces crop yields
 Unfavourable weather conditions and climate change
25 % of the farmland got depleted and the ground water levels
had fallen drastically
 Depletion of natural resources
due to market inefficiency and poor supply chain logistics the
produce is getting wasted
 Food waste and post harvest lossess
Lack of transparency for consumers and more middlemen are
reducing the farmers share in final price of the product
 Weak agricultural supply chains
SMART
FARMING
IOT
ICT CC
Block Chain
Technology
AI
Labour shortage

4.  The use of data and information becomes increasingly crucial for agriculture to improve
productivity and sustainability.
 ICT sustainably increases the effectiveness and efficiency of collecting, storing, ayalyzing
and using data in agriculture and allows agricultural practitioners and farming
communities to easily obtain up-to date information for making better decisions in their
daily farming.
Ex: Remotely sensed data support farmers crop management.
 Mobile phones reduce information cost and thus promotes farmers access to markets and
financial support
 GPS facilitated field mapping, machinery guidance and crop scouting etc.
However ICT does not avoid bias in the collection and use of data. Individuals
operating ICT always are motivated to use the data in favour of their interest as it is highly
centralized.

5. BLOCK CHAIN TECHNOLOGY
 A Blockchain is a digital, decentralized and distributed ledger technology that
was primarily proposed to record the cryptocurrency transactions that occur inside
a digital currency system.
 Stuart Haber and W. Scott Stornetta ideated the concept of a cryptographically
secured chain of blocks in 1991.
 It was used by Satoshi Nakamoto (name used by unknown person or group who
developed bitcoin) in 2008 to serve as the Public Transaction Ledger of the
Cryptocurrency Bitcoin.
centralized decentralized distributed
 It creates a permanent and
immutable history of events
that is replicated and stored
in the blocks and highly
secure

7. What is a block ?
A block consists of a set of database transactions. these blocks are shared in a
distributed and decentralized manner i.e, each node has a complete set of blocks and
everyone can see all transactions.
what is a chain?
Each block is linked to the previous block through a hash function forming a long
chain. The hash function ensures that the block if needed to be changed the entire chain
should be broken.
 Each block in a chain is cryptographically signed to allow only the validated nodes access
the data.
Node is an individual devices on
the blockchain network which are
all interconnected with each other
and constantly exchange data.

9. How does Blockchain work ?

10. Blockchain technology allows a peer-to-peer transactions to take place transparently
and without the need for an intermediary like bank or a third party.
 There is no central authority present to validate and verify the transactions, yet every
transaction in the Blockchain is considered to be completely secured and verified.
This is possible only because of the presence of the consensus protocol which is a
core part of any Blockchain network.
 A consensus algorithm is a procedure through which all the peers of the Blockchain
network reach a common agreement about the present state of the distributed ledger
Proof of Work
Proof-of-work- allows,solving of computationally intensive puzzles to validate
transactions and create new blocks. Bitcoin uses PoW consensus algorithms.

12. Proof-of-Stake ( PoS)
Proof of Stake chooses the minners of the next block or individual who validate
next transaction by their coin possession . This consensus algorithm introduced for
dealing with the difficulties by PoW and aims for distributed consensus .
Proof of Authority (PoA)
• It is a practical, efficient
solution for blockchain
networks, especially the
private Blockchain where
some level of trust and
familiarity already exists
among the members.
• It is deemed a great option
for logistical applications
such as supply chains but can
not be used in the crypto
community.

13. Importance of Blockchain Technology
Agriculture
BCT
 Blockchain technology has wide range of
applications beyond cryptocurrencies.it is
set to radically transform large number of
industries from health care to law, to
banking
 However very little explored industry
that blockchain has the potential to
revolutionize completely is agriculture.
agriculture has a growing number of
issues that needs to be solved and can be
overcomed using this technology.

14. It is an emerging technology and presently
getting more attention from various sectors.
main reason being its decentralized system,
without the help of authentication system
and capable to achieve the same goal with
the same volume of dependability
This technology opened new pathways and
introduced trustless networks because with
blockchain you make transactions without
trust on other parties and eliminating
mediators.
Also the transactions become faster and the
information also gets ensured through
cryptography.
Unfriendly Cautious Neutral Enabling
Leading
Source: NASSCOM, India Blockchain Report, 2019
Global Blockchain Market

15. THE NATIONAL SCENARIO
Source: NASSCOM, India Blockchain Report, 2019

16. Blockchain technology in Agriculture
The present food supply chain companies are facing many challenges which includes:
Disconnections between supplier and retailer
Lack of transparency in food production and distribution
Limited financing resources
More number of middlemen to meet the desired demands
Blockchain technology platform can provide a secure solution to these problems
with decentralized, automatic and trusted data and transportation management.
FAKE

17. Applications of Blockchain in Agriculture
1. Crop and Food production
Step 1 : IoT devices generating data
 IoT sensors and devices will monitor the crop and soil health and generates data
regarding temperature, soil pH, soil moisture, pests and diseases etc., which helps
farmers and other stakeholders in making well- informed decisions related to crop
growth.
 The information needs to be structured before getting saved on the data storage.

18. Step-2 : Cleaning and enrichment of the collected data
 Before saving collected data in blockchain it needs to be made as structured and
understandable.
 It needs to be enriched to improve the quality of the captured information by
following steps.
A. Information related to timestamp, demography and type should be added to the data
B. Making data ready for compliance.
Once the data is enriched, it is put into the machine learning-ready format.
Step-3 : Making data more insightful with machine learning algorithms
 When machine learning is applied to the data generated from sensors, it gives insights
regarding crop quality recommendations, crop yield prediction, crop growth factor,
pest and disease infestation, crop demand prediction, irrigation requirements etc.

19. Step-4 : Data gets saved on Blockchain
 The high value data gathered by applying machine learning gets stored in
Interplenary file system (IPFS), a distributed storage platform having addresses
hashed and stored in the blockchain to enable the agriculture market participants such
as growers, innovators, producers and other stakeholders to access it transparently.
 The information gets decentralized and distributed across every node in the network
preventing a central authority to control the system and it triggers smart contracts.
 since information will be visible to every agriculture market participant, it will
become seamless for them to bring efficiency in crop or food production.

20. Smart contracts are simply programs stored on a blockchain
that run when predetermined conditions are met. It is an
agreement where by execution is both automated,
enforceable and runs on a distributed ledger.

21. Blockdiagramof IoT with Block chain smart farmingmodel

22. 2. Food Supply Chain
With raising globalization and intense market pressure, food supply chains have
become longer and more dynamic. the most common problems in the food supply chains
include:
1. Food traceability
2. Food safety and quality
3. The trust among the partners in the
supply chain
4. Food trust, confidence of customers
5. Supplychain inefficiency which adds
additional risk on the entire society,
economy and health of human.
Demand for information about food
51.14%
52.57%
63.64%
72.73%
86.36%
86.36%
90.91%
94.33%
0% 50% 100% 150%
Circulation process
Producer
Place of origin
Nutrition
Harvest date
Production standards
Chemical fertilizers and pesticides
used in production processes
Quality certificate
Do not want to know Do not care Always want to know

23. Step - 1 : IoT sensors generating data/ farmers storing data
Step - 2 : Distribution of harvested produce to food processing companies
Once crops are at maturity stage, the food processing companies start bidding on
bidding platforms and after the bid is validated through smart contracts, produce is
transported to refineries via IoT enabled vehicles, capturing the temperature conditions
under which the items are kept and delivered.
 Then during processing companies store every information captured while
transferring and processing on the blockchain.
 This information gathered from refineries helps wholesalers and retailers to
identify the quality of the food delivered to them.
Step - 3 : Supply of Processed food to wholesalers and retailers
Step - 4 : Consumers can back trace the supply chain

25. Use of Blockchain in this case
 From producers perspective:
Helps in establishing trusted relationship with consumers and buildup the
reputation of their products by transparently providing individual product
information. entrepreneurs can improve their marketing competency.
 From consumers perspective:
Gives true, reliable information about how food is produced and processed
thus addressing their concerns about safety, quality and environmental friendliness of
food.
 From Regulatory agencies perspective:
Helps in getting accurate and reliable information to carry out informed and
efficient regulations.

26. 3. Agricultural Insurance
Weather extremes threaten agricultural production, putting food security at risk.
Hence to manage these risks Agriculture insurance schemes have been implemented in
various countries to help farmers in managing their financial losses caused by such
extremities.
 Agricultural insurances differ with respect to how losses are assessed and
consequently how payments are triggered.
 Indemnity based insurances are able to precisely cover losses, but they are prone to
certain problems like
1. Asymmetric information regarding production and production
processes between farmer and insurer.
2. Discrepancies between payout and on-farm loss can occur.
 Blockchain helps in overcoming these problems and contributes to provide full and
timely insurance to farmers.

27. Step - 1 : Weather stations sending essential information to blockchain
Smart agriculture enable farmers to understand crop behavior by deploying
sensors and mapping fields. Placing agricultural weather stations within farms or
presence of weather stations near by can help generate crucial information such as soil
temperature at different heights, air temperature, amount of rainfall, wind speed,
dew point temperature, relative humidity etc.
• All these parameters are measured, recorded and saved in blockchain enabling
farmers and other authorized entities to access it transparently.
Step - 2 : Farmers can take preventive actions
By analyzing data generated by weather station, farmers will be able to make
informed decisions to overcome the problems by taking necessary actions in advance.

28. Step - 3 : Quick application for
the crop insurance
 The blockchain’s transparent and
immutable behavior will enable insurance
companies and other authorized parties to
access the data captured by the smart
weather station easily with the help of
smart contracts.
 Both farmer and insurer will have
identical information about insured value
and exact data can be generated.
 After the insurance claim request is
approved, farmers will automatically get
the requested amount in their respective
wallets and full insurance coverage with
timely payments can be availed.

29. 4. Improved quality control and food safety
 One of the main uses of blockchain is to add greater accountability to the supply
chain and help us to rid ourselves of inadequate processes and ensure optimal quality
assurance conditions.
 Similarly, through the agencies concerned with the agricultural production could be
certified and put on the blockchain system. This would lead not only to a better price
for the works of the farmer but also to quality products being obtained by the end
consumer.
 The regulatory agencies can avail reliable and accurate information about the produce
and can carry out informed and efficient regulations.
 Such systems could lead to a better food ecosystem for sustained country
development by avoiding food frauds.

30. 5.Land registration
Instead of depending on heavy paperwork which is cumbersome and often
marred with inconsistencies, blockchain provides a systematic, tamper-proof
incorruptible digital ledger of land records in case of farmer or land registrations in both
rural and urban areas.
 Particularly in the case of rural poor, if this is effectively connected to sovereign
identification / digital identification, then the safeguarding of land records would not
be a problem even in times of natural disasters or war.
 This data collected can be used for further surveys, maintaining accurate data of land
holdings in our country and provide customized solutions to farmers based on their
individual requirement, which help in promoting sustainable farming.
 The United Nations Development Program (UNDP) is working with partners in
India to make land registration there more reliable. At a high level, this project will
permanently capture and document any transaction throughout the sale of a property.

31. 6. Traceability and Auditability
 With the features like traceability and auditability, farmers
can directly sell crops or food to the market without the
need for intermediaries.
 These days the process depends on a third-party to
coordinate the delivery. The involvement of multiple agents
adds high costs to the system and makes the entire process
time-consuming.
 With the blockchain, the whole process can be
simplified to a single distributed ledger.
 Commodity buyers can directly interact with
the supplier that speeds up the process and
reduces the time to settle a payment. Also, the
companies can save on additional agent fees
and farmers can receive a larger share of sales
directly with a blockchain-based solution.

32. 7. Logistics and Payments
 Implementing blockchain into logistics can go a long way in simplifying deliveries
especially in case of perishable products where long supply chains is a big challenge for
farmers.
 With smart contracts, farmers will be free from the large number of intermediaries and of
course, they’ll get to rest easy knowing that the product will reach the end consumer in
good shape and in prescribed time.
 Moreover, smart contracts will
eliminate unnecessary delay
and ensure farmers get paid in
real time immediately after
delivering their produce.

33.  The blockchain uses another age-old feature,
namely cryptographic hashing, that permits
data subjects to better manage and control
who has access to their (personal) data.
 It is decentralized, encrypted, and cross-
checked which allows the data to remain
strongly backed. As blockchain is fully
loaded with nodes and to hack most of the
nodes concurrently it is impossible.
 It offers a whole new level of succeeding
security where any action or transaction
cannot be altered or counterfeit.
8. Data Security

34. 9. Fair pricing
 With the wealth of information that could be provided to farmers through IoT linked
Blockchain would help them to follow better farming practices and maximize the yield.
 Smart contracts would eliminate the need for middlemen, as it would allow farmers to
connect directly with retailers. As a result, their share in the final produce will get
increased and can avail fairer prices by eliminating the middlemen share.
 Blockchain’s Smart Contracts work by triggering payments automatically as soon as a
specific, previously-specified condition has been fulfilled by the buyer and without
charging sky-high transaction fees.
 The entire data stored in blockchain will increase the transparency of the farming
practices and product quality among consumers and pay according to the quality.
 With a blockchain linked mobile store of data about transaction trends, global market
demand, the stock price of commodities farmers will be able to negotiate fairer prices.

35. 10. Loans for Small and Marginal Farmers
Farmers in our country, have limited access to financial resources
because lending institutions perceive agriculture industry as risky
and do not provide required financial assistance to farmers.
Also getting loans may require lengthy and time consuming
process and results in delay in the financial assistance.
Blockchain, on the other hand, can help the farmers get connected with the global
network of lenders to get micro-loans so that they can choose the best possible interest
rates and can get the timely assistance.
These global connections are all fair, tested, and become of paramount importance for
the agribusinesses participating in international trading.

36. 11. E-Commerce of Agricultural Products
Naturally, it’s trusting the manufacturer and the e-Commerce platform, convenient
payment methods, and the ability to track what we ordered influence the willness of
customers to purchase online. When it comes to food, our requirements become more
specific, and this can be a problem for agricultural businesses.
 First, it is often difficult for them to confirm the origin and delivery conditions of
agricultural products.
 In addition, e-commerce retailers need to process orders as quickly as possible so that
the product doesn’t spoil and the company doesn’t end up losing consumer trust.
How blockchain helps?
1. Security : Blockchain provides private key encryption which is a powerful tool that
provides authentication requirements and it can thus link data of planting and
harvesting of agricultural products safely and unchangeably.
2. Effective supply chain management
3. Easier access to the online marketplace for smallholders
4. Payment methods
5. Consumer trust

37. More benefits and opportunities for blockchain in Agriculture
1. • Overseeing farm inventory
2. • Modernizing farm management software
3. • Agricultural technology IoT optimization
4. • Oversight and payment of agricultural subsidies.
5. • Greater accountability for Multinationals
6. • Facilitation of financial transactions in emerging economies
7. • Fairpricing through the whole value chain for all actors.
8. • Emissions reductions and support for environmentally friendly initiatives.
9. • Consumer awareness and increased consumer satisfaction.

38. 10. • More informed consumer purchasing decisions.
11. • Sustainable business and reduction of waste
12. • Transparent transactions and elimination of fraud.
13. • Improved quality of products and fewer diseases originated from food.
14. • Decreased transaction fees and less dependency on intermediate services
15 • Data accessibility while maintaining privacy according to regulations

39. Examples of Start-ups using blockchain-based solution in
agriculture
It is the worlds first settlement of an agricultural commodity on a blockchain which
enables real time payment removing the counter party risk for the seller.
This platform is an integrated commodities management solution for global grains industry
that uses Ethereum blockchain to promote transparency and efficiency, restoring farmers
trust in the ecosystem.
Being the world’s first company to executed live-ever settlement of the physical product
on the blockchain between grower and a buyer, Agridigital now has 1300 active users and
is operating in 30 countries.

40. From the pilot project that were successfully executed, the main contribution of
Agridigital in agribusiness can be summarized as
1. Provides an opportunity to connect the local farmers to the global supply chain.
2. Tracking of real-time data (location, status of the assets at any given time) of a grain
sale between grower and the buyer for transparent supply chain.
3. Execution of the real-time payment settlement via smart contract, that help to
eliminate the counterparty or credit risk to the grower
4. Offering customers with comprehensive trade flow management, access to funding
and traceability of the item’s origins

41. 2. TE-FOOD
 TE-FOOD is a public permissioned blockchain-based farm-to-table food system with
its mission to offer transparency in the food supply chain by monitoring the items
through the whole supply chain (farm, processors or slaughterhouse, distributor,
retailer) and providing tools to customers, supply chain firms, and government
agencies to learn about food history and quality.
TE-FOOD being focused on food traceability, provides unique solutions in
agricultural industry:
 It is only the traceability solution that offers different services B2B(Business-to-
Business), B2C(Business-to-Consumer) and B2A (Business-to-Authorities), benefiting
businesses, consumers and authorities.
 It builds consumer trust as they are able to track the origin of the food product
including all processing the product underwent.

42.  Due to proper traceability facility and IoT sensors, the food products that are
contaminated can be quarantined at early stage before it reaches to retailer,
reducing various food borne illness.
 Regulatory bodies have real-time perspective of the food market that help to
improve food safety regulatory monitoring and enforcement.

43. 3. Etherisc
 It is an open-source development platform that builds decentralized, blockchain-centric
applications for different sectors of the insurance industry.
 Etherisc’s blockchain crop insurance solution has been successfully tested in a
Srilanka in collaboration with Aon and Oxfam to lower risk and cover the risk
effectively, in 2019.
 In November 2020, Etherisc has announced to team up with Chainlink to deliver crop
insurance in Kenya whose objective is to trigger insurance payouts automatically in
case of extreme weather events.
 In the case of extreme weather events, insurance policies are triggered automatically by
the input data which result in fair, timely, automatic and transparent payouts where an
insurer is not able to tamper or alter in the event of a drought or flood.
 Algorithms in the smart contract automatically check GPS and weather station data
depending on the location of the farmer's fields, which allows Etherisc to assess risk
and contract conditions cost-effectively at the outset and handle claims over time.

44. 4. AgriLedger
 In 2019, AgriLedger launched a blockchain ecosystem for Haitian farmers to increase
supply chain transparency and promote more equitable product pricing for suppliers
and retailers.
 The mission of AgriLedger is to empower small farmers by making easy processes to
access the global market via the mobile platform and financial services via API links
with local banks and financial institutions.
 AgriLedger is a blockchain-based mobile application which has following features:
1. Digital Identity: Each actor in the supply chain including the farmer gets a
unique digital identification number and allows each farmer to be recognized as a
significant factor in the supply chain, giving them improved access to financial,
insurance, logistical, and other services.
2. Asset Digitization: Assets (such as rice or coffee) can be digitized through
tokenization, which provides liquidity, facilitates peer-to-peer trading, and boosts the
value of agricultural commodities markets by participants of all players of the supply
chain.

45. 3. Immutable Data
4. Record Keeping and Access to Financial Services: The digital ledger
created provides better record-keeping and proof of income that help farmers access
finance loans and other financial services.
5. Digital Wallet: The digital wallet facilitates the farmer in applying and
receiving a direct deposit from the financial institution. Also, implementation of
financial transaction from buyer to farmer allows the farmer to receive payment for
their products faster and enhance supply chain efficiency.

46. 5. Ripe.io
 Ripe.io, an American company founded in 2017, is involved in developing innovative
methods of tracking food using blockchain technology through “Blockchain of
Food”.
 The “Blockchain of Food” is a food tracking network that aims to provide
information about the origin of the food, its growing circumstances, how it was
delivered and other food data that might be of interest to consumers build by using
blockchain technology, IoT, AI and machine learning.
 The primary impact of ripe.io in the agriculture industry can be summarized as:
1.Empower customer by giving access to information about the origin and
producing conditions of the crop.
2.Facilitating farmer as they can record and monitor the information like
temperature, humidity, light, pH value, from the sensors that are important for
quality crop production.
3.Quality level of the crop is recorded and can be accessed by all the parties in
the supply chain to ensure food safety and security.

48. Limitations of Blockchain technology in Agriculture
1. High energy requirement
A methodology to build consensus for entering a new data block amongst
participating nodes is a core feature of blockchain. For a large chain like Bit coin,
estimates suggest data size exceeding 100 gigabytes and high electricity requirements
2. Policy and regulatory risks
The policy and regulatory framework around blockchain is in its infancy and
therefore entails high risks. The fluctuations in the price of Bitcoin and the reports of
hacking of cryptocurrency have resulted in increased regulation by a number of countries
and has attracted regulatory interest. These regulations vary from a complete ban on
holding cryptocurrency (e.g. Bangladesh), a ban or regulation on cryptocurrency trading
(China, Saudi Arabia) to a ban on holding initial coin offerings (ICOs). A number of
blockchain projects, especially those dealing with currency or cross-border transactions,
requires KYC compliance and it is important to understand the national framework before
dwelling into these projects.

49. 3. Speed of transaction
The speed of transaction is an important element as some of the public
blockchain do not have high transaction speeds. On Bitcoin blockchain, a new block
emerges on average every ten minutes but is not guaranteed; and this block time is
different for every blockchain.
4. The motivations of all transacting parties to provide accurate information on the
blockchain ledger needs to be further studied. This becomes especially vital for small-
scale farmers
5. Uploading the data to a blockchain is known to be an expensive process. This acts as
a barrier to the adoption of blockchain by farmers who cannot afford it. While setting
up the ledger itself is relatively inexpensive, but the process of accumulating the data
can be time intensive and costly.

50. 6. Lack of adequate skills with the farmers to use the highly modernized technology.
7. The overall technological benefits of using blockchain may be dependent on the
size of the farm. While it’s easier for small farms to participate in the insurance
created by blockchain, it is more convenient for larger farms to collect and integrate
various sources of real-time farm data.
8. In order to be successfully implemented, the technology needs to be plugged into
an existing database and legacy systems such as enterprise resource planning,
warehousing management and manufacturing execution systems. Building an
infrastructure to use the blockchain technology is often time consuming.

51. CASE STUDY 1
Blockchain-Based Soybean Traceability in Agricultural Supply Chain
K. Salah et al., (2019)
Objective: To analyse how blockchain and Ethereum smart contracts can
efficiently trace and track and enable seamless integration of business
transactions and workflows in the agricultural supply chain

52. Methodology
 Ethereum blockchain and smart contracts to trace, track, and perform transactions.
 Main participating entities: Seed Company, the farmer, Grain Elevator, Grain
Processor, Distributor, Retailer, the end Customer and the blockchain that has the EVM
(Ethereum virtual Machine) executing the smart contract.
 In blockchain, every actor has to have an Ethereum account, with a unique Ethereum
Address (EA)
 A popular decentralized file system can be IPFS (Inter Planetary File System), which
is peer-to-peer file system in which the content of the file is stored by multiple peers or
nodes, which stores the file content with high integrity.

53. Soybean traceability using Ethereum smart contracts

54. Summary
This generic framework leveraging Ethereum blockchain and smart
contracts to trace, track and perform business transactions removing
intermediaries and central point of processing for soyabean traceability across
agricultural chains can bring high transparency among all stakeholders and
increase customers trust on the product.
This framework can be used in any crop or produce in the agriculture
supply chain.

55. CASE STUDY 2
“Study on Blockchain based food supply chain system to fulfill the food
information requirement of the Indian consumer”
Sarthak Ghimire (2019)
Objective:
 To identify the food information required by the Indian consumer.
 To calculate the average willingness to pay of Indian consumers for extra food information.
 To design a Blockchain based supply chain system to fulfil the information requirement of
consumers in the Indian context.

56. Table 1: Identification of the food information required by the Indian consumer

57. Table 2: Distribution of the respondents on the basis of their satisfaction with food
information.

58. Table 3: Willingness of respondents to pay higher for higher food information
WTP for Higher
food information
Frequency Percentage
Less than 10% 110 35.14
10-20% 96 30.67
20-30% 38 12.14
30-40% 36 11.50
40-50% 33 10.54
Total 313 100.00
Movement of Goods ------------
Movement of Information
Design of Blockchain based food supply chain system to fulfil the
information requirement of consumers in the Indian context

59. Summary
Blockchain can improvise the way our food is tracked, transported or sold.
Recording information digitally can overcome inaccuracies resulted due to
traditional paper based record keeping system.
It makes possible to get the every food information in few seconds.
Increased willingness of consumers to pay for the higher food information, may also
act as economic incentive for major participants of the food supply chain system.

60. Conclusion
Blockchain technology would be a transformative technology soon in the
agriculture industry that could address several issues like inefficiency in the traditional
supply chain, food safety, security and quality issues, high transactional cost, market
manipulation by middlemen, distrust of the consumer on the product.
 The market size of Blockchain technology increased from 1.57 billion dollars in 2018
to 6.92 billion dollars by 2021. It is expected to increase its value to 94.89 billion
dollars by 2026. (Statistia, 2022.)
 Where as blockchain value in agriculture and food market alone in worldwide recorded
32.2 million dollars market in 2017 and its value is projected to increase to 1442.9
million dollars by 2028. (https://www.statista.com)
 Some of the efforts can be seen through several initiatives around the globe. With some
of the successful initial adoption of the technology in agriculture, its demand is
increasing.
 But for blockchain to come to full function, issues (cost, scalability, performance, data
privacy, technical maturity, security) need to be resolved.