Blockchain Enabled Credibility Applications: Extant Issues, Frameworks and Cases

Abstract

The credibility of information is known as a major cause of a wide range of issues, such as: altered product information in food supply chains; fake transactions on E-commerce platforms; lengthy claim settlement time in agricultural insurance; and costly borrowings in agricultural financing. For a more specific example in food supply chains, end customers want to check the product information, but either doubt the authenticity of information, or simply do not have access to the information. The reason is that upstream suppliers and downstream retailers are often reluctant to share data, fearing privacy loss or business secret leakage. The consequence is that regulatory departments may face enormous challenges to identify accurate contamination sources, if there is scarce information or falsely recorded information at any stage of the food supply chain. In this paper, we focus on four common scenarios demanding information credibility in the agricultural supply chain: product traceability, E-commerce platforms, agricultural insurance, and agricultural financing. We review some high-profile smart credibility applications with emphasis on how blockchain related technologies can provide the information credibility by examining extant issues and relevant frameworks.

Blockchain-enabled supply chain operations and financing: the perspective of expectancy theory

“…In contrast to the traditional ledger system, it includes the following characteristics: (1) a list of transactions is recorded on a ledger over a given period, which creates “blocks” that are mathematically “chained” together through a hashing function that cannot be tampered with; (2) it exhibits decentralization or multi-centralization, which means that consensus can be reached without any authorities or third parties, no single node controls the ledger, and the transaction can be evaluated, verified and added to the block by most nodes (Wu et al. , 2017); (3) a cryptographic mechanism ensures that transactions can neither be denied nor destroyed and the privacy of user information and records is protected as much as possible (Treiblmaier, 2018); (4) smart contracts can be combined with the blockchain to provide more flexible contract functions in addition to enabling transactions and more complex execution requirements (Luo et al. , 2022).…”

“…(3) a cryptographic mechanism ensures that transactions can neither be denied nor destroyed and the privacy of user information and records is protected as much as possible (Treiblmaier, 2018); (4) smart contracts can be combined with the blockchain to provide more flexible contract functions in addition to enabling transactions and more complex execution requirements (Luo et al, 2022). These characteristics can effectively solve the problems arising from centralized SCF.…”

Agricultural Supply Chain Financing Strategies under the Impact of Risk Attitudes

“…By calculating the partial derivation of the expected output factor for Equations ( 4)-( 7) and ( 11)-( 14), we obtain Proof of Corollary 2. We calculate the partial derivation of the risk aversion coefficient of farmers for Formulas (4), ( 5), (11), and ( 12) respectively, we can get: µ f (µ)dµ > 0, dq BF * dη > 0, ∂q RF * ∂η > 0, dw BF * dη < 0, dw RF * dη < 0.…”

“…Issues such as agricultural supply chains and supply chain finance have been widely discussed theoretically [10][11][12]; but to the best of our knowledge, there are few studies on financing options for agricultural supply chains. In practice, the risk-averse attitude of farmers not only affects their decision-making on production input, but the optimal decision of e-commerce as a member of the supply chain is also affected by the risk attitude of farmers.…”

Blockchain Enabled Architecture with Selective Consensus Mechanisms for IoT Based Saffron-Agri Value Chain

“…Blockchain can further make the smart city a reality by incorporating security and privacy-based smart contracts without any third-party centralized services [46]. Blockchain can also be incorporated into the Energy sector, Insurance, and Mortgage based IoT applications with the heterogeneous involvement of various stakeholders in a distributed manner [29]. Mainly addressing the important challenges in integrating blockchain technology with IoT applications will pave more directions for its feasible implementation with far better results.…”