A blockchain-based approach to enhance agricultural food supply chain efficiency

Abstract

The purpose of our capstone project is to advance and apply blockchain frameworks and technology to effectively increase the efficient food supply chain precisely towards agricultural food. We try to resolve some of the major issues like traceability problems, product safety concerns, quality control, increasing supply chain costs, and reducing reliance on third-party intermediaries in our project with a complete transparency model, secured architecture, streamlining operation and improving customer satisfaction. We are leveraging the power of blockchain technology for better and easier trading of food, safe payment processes, build stakeholder trust, and encourage openness, responsibility, and trust among those involved in the food supply chain for agriculture. 1.2 Introduction Agriculture and farmers are back-bone of any economy to ensure the food supply and livelihood of millions of people in any nation. However, they face several challenges and issues in the food supply chain like access to markets, credits and external resources. Furthermore, they have no control over traceability and quality control. To resolve these challenges, implementation of advanced technology can be entirely innovative to enable farmers and agricultural niche to improve sustainable development and profitability. By incorporating blockchain frameworks and technology into the food supply chain of the agricultural sector not only solves multiple challenges but also motivates farmers to interact more effectively in the food supply chain environment. Blockchain’s features like smart contracts and decentralized ledger systems enable farmers to ensure transparency, authenticity, and just remuneration for their commodities are ensured by securely tracking their items from farm to table. 1.3 Problem Definition Our capstone project aims to leverage the full potential of blockchain technology to streamline agricultural operations, farmers satisfaction and improving overall effectiveness of the food supply chain. By discovering existing resources and case studies, we can say that blockchain's role in the food supply chain ecosystem will change how we used to poorly interact with the food supply chain to create a more robust and welcoming ecosystem that benefits farmers and other stakeholders equally. Therefore it is critical and crucial for us to establish and enhance the food supply chain with blockchain due to its obvious significance in people’s lives.