Understanding, Supervision, Strategy and Acceptance Effect into the Blockchain Employment in Malaysia
Journal: International Journal of Mechanical and Production Engineering Research and Development (IJMPERD ) (Vol.10, No. 3)Publication Date: 2020-06-30
Authors : Mahadi Hasan Miraz Mohammad Tariq Hasan Farhana Rahman Sumi Shumi Sarkar; Mohammad Ismail Majumder;
Page : 8339-8360
Keywords : Blockchain; Food Retail Market & Blockchain Implementation in the Retail Food Marke;
Abstract
Throughout history, the food industry has been responsible for several crises and, as the market becomes more global, it is difficult to keep information under control and confidence. As a result of food scandals, asymmetry in information increases customer awareness, as well as initiatives such as evidence to address problems. To increase transparency, the information infrastructure is continuouslyevolving and, more recently, blockchain technology has paid great attention to possible solutions to issues. Blockchain is an open, distributed and decentralized authentication system for digital transactions, where transaction data is stored securely in the so-called blocks that make up a network. In order to obtain effective food retail, it is necessary to monitor specific product information in the food retail industry.The study concludes that blockchain technology is still immature for food retail, andthe biggest challenge is to create a culture that promotes collaboration, exchange of information and easy-to-accept standardization. However, the blockchain technology allows safe and transparent tracking functions, with traceability and a framework thatcan save costs and the environment when removing a product. In addition, to be willing to cooperate and make time and effort in new implementations, it is essential to find the real value of the application for all interested parties.
Other Latest Articles
- Analysis and Synthesis of Influence of Tool-Electrode Materials in Electric Discharge Machining of M2 High-Speed Tool Steel
- A Comparative Analysis of Clustering Protocols of Wireless Sensor Network
- Contemporary Trends in Marketing: A Pathway to Success for Modern Organizations
- Effect of Intrinsic and Extrinsic Motivation on Turnover Intention among the Bank Employees
- Historical Development, Sources and Applications of Artificial Water Recharge System
Last modified: 2020-11-19 17:17:36