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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:

Authors : ; ;

Page : 8339-8360

Keywords : Blockchain; Food Retail Market & Blockchain Implementation in the Retail Food Marke;

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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.

Last modified: 2020-11-19 17:17:36