Transparency in Agriculture Crop Pricing Using Blockchain
This paper proposes a system for efficient agriculture product price tracking, helping food industries to keep a record of input-demand equations and preventing price inflation. The system links among farm commodity prices across the provision chain since it consists of varied participants. The current trading system process is usually done offline nowadays. Blockchain provides feasible solution for product and price tracking for this sort of complex supply chain that can be support smart contracts. By using smart contracts within the private blockchain the transactions will be recorded, controlled and managed effectively. Since blockchain is immutable it'll provide high-level security for these transactions. It will help in maintaining the standard and volatility in market prices of those products and encouraging farmers for greater usage of agricultural inputs in food processing. The proposed system will eliminate the necessity of centralized authority. Various policies are to be implemented by system like FRP’s set by Government to follow all the rules for maintaining consistency within the system. The proposed system enhances effectiveness with protection as well as with high integrity, consistency.