EMPLOYMENT OF BLOCKCHAIN TECHNOLOGY IN AGRICULTURE AND FOOD SECTOR - A REVIEW

Agriculture sector is the backbone of a given economy. Globally, this sector does not only provide food and basic materials, but also employs an immense percentage of population. Nonetheless, it is afflicted with many predicaments such as inappropriate means of communication, food adulteration and lack of openness in the supply chain. Thus, utilisation of digital technologies can be one of the prospective solutions to these many problems. These technologies are various however blockchain technology has captivated the most attentiveness. This state of the art technology is a distributed record of transactions permitting associates to document transactions in a devolved data log in processor network. In agriculture and food sector, blockchain can be used to promote food safety, stop food fraud and affirm legitimacy of agricultural commodities. Furthermore, can also be used to achieve superior prices and payment options, land title enrolment and for transparent payment of subsidies to farmers. The victory of blockchain technology mainly depends on its security, decentralisation, lucidity and constancy. Even though this technology has enormous potential benefits in agriculture and food sector, it still has diverse obstacles that hamper its wider recognition among farmers and food supply chain.