Research Survey on Role of Blockchain Technology in Agriculture

Blockchain is a decentralized ledger technology where all the data and information can be stored and shared. They allow accessibility for every network users rather than just a single server and admin. The information in the database can then be accessed and validated by several parties, increasing security and lowering the risk of corruption. Traceability is made possible by blockchain's ability to store and manage data. This feature is used to help develop and execute solutions for index-based crop insurance and intelligent farming. It is an important advance in the fields of modern agriculture. Food safety in agriculture is ensured by blockchain applications in crop certification, information systems, agro-trade, financing, and traceability of origin, among other areas. It offers a trustworthy source of information regarding contracts, inventories, and farm conditions in agriculture, an industry where obtaining such data is frequently exceedingly expensive. Because food traceability can be tracked via blockchain technology, reliable food supply chains and consumer-producer trust can be established. It makes it easier to employ data-driven technology to improve farming because it is a reliable method of storing data. Additionally, when combined with smart contracts, it enables prompt payments between parties that may be brought about by modifications to data that appear in the blockchain. The applications of blockchain technology from a theoretical and practical standpoint in smart farming, food supply chains, agricultural insurance, and agricultural product transactions. With numerous current initiatives in various food items and food-related difficulties, blockchain is a promising technology towards a transparent food supply chain. However, there are still many obstacles and hurdles that prevent its greater appeal among farmers and systems. Technical issues, education, legislation, and regulatory frameworks are all involved in these challenges. Key words: Agriculture, Blockchain, Supply chain, Farming, Traceability