Novel Automatic Food Trading System Using Blockchain

Abstract

The blockchain functions as a decentralized and collectively maintained ledger that allows anyone to contribute. It provides a secure and readily accessible source of information concerning farms, inventories, and contracts in the agricultural sector, where acquiring such data can sometimes be costly. By tracing the origin of food, blockchain technology supports the establishment of trustworthy food supply chains and fosters trust between producers and consumers. Its reliable data storage capabilities enable the implementation of data-driven solutions to enhance farming practices. Furthermore, when combined with smart contracts, blockchain technology facilitates prompt payments by linking them to recorded data changes within the blockchain.