Application of blockchain technology in agricultural supply chain management: economic implications and challenges
Vol 9, Issue 8, 2024, Article identifier:
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Abstract
This study investigates the impact of blockchain technology adoption on agricultural supply chains, focusing on transaction costs, supply chain efficiency, and farmer income. Utilizing panel data from 500 agricultural enterprises across 10 countries over a five-year period, we employ fixed effects and dynamic panel models to analyze the economic effects of blockchain implementation. Our findings reveal that blockchain adoption is associated with significant reductions in transaction costs, improvements in supply chain efficiency, and increases in farmer income. The study addresses endogeneity concerns through instrumental variable estimation and conducts extensive robustness checks to validate the results. Our analysis provides empirical evidence for the transformative potential of blockchain technology in addressing key challenges in agricultural supply chains, including information asymmetries and inefficiencies. The findings have important implications for policymakers and practitioners seeking to enhance the competitiveness and sustainability of agricultural systems through technological innovation. This research contributes to the growing literature on digital agriculture and offers insights into the role of blockchain in shaping the future of global food systems.
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DOI: https://doi.org/10.59429/esp.v9i8.2991
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