Transparency is a major problem in the agriculture industry. Consumers and farmers are not aware of the market price, demand, and availability of goods in the area. There are a lot of middlemen involved in the process of buying and selling goods. The involvement of middlemen makes the process more costly and complex. With the use of blockchain technology, it will help both consumers and farmers to connect directly without any involvement of middlemen. All the data is uploaded on the blockchain and is visible to everyone. Consumers can directly see the availability of goods in the area. This will help prevent food fraud, false labeling, and chain of middlemen.
Blockchain helps solve the problem now consumers can buy food from anywhere by knowing the exact time of harvesting and where it comes from. The chains of food value are intended to increase its competitive advantage by collaborating on a project bringing together producers, processors, marketing specialists, food service companies, retailers, and support groups, such as shippers, research groups, and suppliers.
A value chain is a strategic partnership between interdependent firms that maintain collaborative relationships to gradually add value to end consumers, which translates into a collective competitive advantage. A value chain is characterized by a collaborative, market-oriented: different commercial companies work together to develop and bring to market products and services effectively and efficiently. They allow companies to meet the needs of the market by the production, processing, and marketing in line with consumer demand.
Supply chain management is just one of the use cases where blockchain is being recognized as a new and powerful solution. As total visibility and verifiable authenticity become increasingly valuable commodities in the modern world, blockchain will continue to grow in its role as a ledger of indisputable truth. The Blockchain offers a host of unique capabilities that make it a perfect fit for supply chain management. It offers the capability to record every transaction with absolute certainty, and it provides accurate, real-time tracking for every item in your entire supply inventory. Most importantly, it creates a level of trust and transparency that simply could not exist previously in supply chain management.
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