Blockchain: A tool for a secure, safe and transparent way of food and agricultural supply chain

Agriculture is the backbone of Indian farmers for their livelihood and also plays an integral part in our economy and its development. In the globalized market consumers are well aware of the products that exist in the market and are very specific about their need from the product. The present supply chain operates with many issues that have to do with the reliability of information, consumer trust, supply chain transparency, product quality, logistic issues, environmental impact, personal consumer data, fraud, food safety etc. In India traceability towards backward linkages for food and other agricultural products is always minimal or nil. Blockchain allows for peer to peer transactions of currency, commodities or any other thing of value to occur transparently. Blockchain has enormous potential to significantly impact the way agricultural business is done. Blockchain technology can increase trust between parties, facilitate information sharing throughout the supply chain and significantly reduce agricultural transaction costs.