A Literary Survey for Blockchain Application for Supply Chain Management of Farm Produces

The size of the global blockchain market in food supply chains and agricultural activities was expected to reach USD 133 million in 2020. The growing need among stakeholders to track and trace the finished goods and raw materials is what is driving this expansion, as it builds trust among all parties involved. Because customers are growing more conscious of provenance, more players in the food industry are turning to blockchain technology. But only organized food retailers and branded corporations may benefit from blockchain applications and traceability. There is no system in place to validate data in real time, nor is there any guarantee of the standard of the raw commodities used in the food sector. However, neither producers nor customers—two groups from opposite ends of the supply chain—benefit financially from the conventional method. Labels with embedded barcodes, QR's and monitoring technologies will help farmers get paid more and promote confidence in the quality of their produce thanks to a bespoke blockchain for traceability. A model that promotes end-to-end services also bolsters the transparency in the system, and makes it easier for the parties involved to track their interests, be it the delivery or the payments.