Vol. 10, Special Issue 2 (2021)

Author(s):
Lalita Garg and Kamal Kumar

Abstract:
The blockchain is a ledger of accounts and transactions that are inserted and stored by all shareholders. It ensures a reliable source of openness about the status of farms, inventories, and agreements in the agriculture and allied sector. Blockchain technology can trace the origin of food and thus helps in creating authentic food supply chains and building trust between producers and consumers. Farmers can get instant data related to input material, soil, and weather conditions, all on one platform. Blockchain will help in building the link between farmers and consumers. It will empower small farmers to organize themselves and get closer to the market without the involvement of middlemen. This will reduce the problems of low income, as blockchain will give transparency in the supply chain, enabling farmers to get the real price for their product. At the same time, the integration of small and marginal farmers into the blockchain-based supply chain system poses many challenges. For this reason, in the application of blockchain technology to the agriculture and allied sector, it is necessary to carry out thorough research on the concerns. This article examines the application of blockchain technology in the Agriculture and Allied sector, as well as associated challenges.