Blockchain technology in Agriculture: Applications, Impact and future

International Research Journal of Engineering and Technology (IRJET) e-ISSN:2395-0056

Volume: 09 Issue: 11 | Nov 2022 www.irjet.net p-ISSN:2395-0072

Blockchain technology in Agriculture: Applications, Impact and future

1Student, Computer Science and Engineering, Vellore Institute of Technology

***

Abstract - Although the financial industry is where block chaintechnology firstgainedpopularity,ithasawiderangeof uses that go beyond crypto currencies. Numerous Industries, such as healthcare, law, real estate, banking, etc., stand to be significantly transformed by the technology. However, agriculture is one underserved sector of the economy that block chain technology has the capacity to fully transform. Moresignificantly, ithasanexpandinglistofproblemsthatwe must resolve immediately. There are several ways that block chain technology might benefit the agricultural industry. The applications and benefits will be addressed in this paper. Several goals in the ecosystem of agricultural products might be achieved by these uses, including enhancing contract exchangesandtransactionefficiency,provenancetraceability, and boosting food safety transparency and IoT-powered food quality management. It is crucial to accomplish the ideal trade-off between the agriculture management systems' integrityandefficiencyasneededinvarioussituationsbecause numerous unreliable parties, such as” small-scale farmers, foodprocessors, logisticcompanies, distributors,andretailers are involved in the intricate farm-to-fork pipeline.”[13]

variousdatabasesinanetworkconnectedbypeer-to-peer nodes(alsoreferredtoas"blocks").Theterm"digitalledger" iswidelyusedtodescribe this formofstorage.Thiscould potentiallyaddressanumberofsignificantissuesinpresent systems brought about by thecauses such asInsider tamperingofthecentralizeddatabasethatcouldjeopardize data integrity andhackers whocan readily attack the centralizedsystemtotamperwithdataintegrity.

Overthepastfewdecades,distributeddatabasesaugmented by cutting-edge cryptography have been presented as a solutiontotheseproblems.Amongthese,blockchainisone of the most popular new approaches to address concerns withtrustbroughtonbythecreationofBitcoinin2008.In thispaperweillustrateacomprehensiveessayonhowthis can benefit agriculture by applications such as Improved food safety and quality control, enhanced supply chain traceability , increasedfarm productivity, more equitable payments to farmers, production of Food and Crops, managing agricultural finance, and the food supply chain whichwillbediscussedindetail.

Words: Blockchain, Agriculture, Technology, Applications, Future

1. INTRODUCTION

Inthisera,Agriculture needsimmediateactionto make it sustainable.Thepremisethatwemustmeetourneedsnow without endangeringthecapacityoffuture generationsto meet their own needs is the cornerstone of agricultural sustainability.Therefore,short-termeconomicgainisjustas important as long-term stewardship of both natural and human resources. As a complicated, uncertain, and individualizedindustry,modernagriculturefacesnumerous challengingissues.Theclimatechange,meetrisingdemands and quality, Stay tenacious against the global economic issuesandyoungpeoplewholackinterestinfarmingmakes itmoreproblematicthanitwasbefore.WiththeBlockchain coming into the picture of agriculture it has not only the tremendouspowertototallytransformitbutbroughtmany youngsters into the field of farming through block chain technology.

Blockchainisamethodofdatastoragethatmakesitdifficult orevenimpossibleforthesystemtobechanged,hacked,or otherwise exploited. A block chain a kind of distributed ledger that shares and replicating computer network transactionsinvolved.Tosimplify,Blockchaintechnologyis a system for storing public transactional records across

The literature that has already been published forms the foundationforourstudy.Iconductedathoroughreviewof the literature. We start by compiling a list of all pertinent surveypapersbyfollowingamethodicalprocessandlooking up relevant terms in Google Scholar and numerous electronicdatabases,suchasOpenAthens,IEEEXplore,and ScienceDirect.Thisresearchandthereviewoftheliterature isessentialforustoprovidetobeawareofthechallenges, understandthecurrenttrendsonhowblockchainisbeing implementedtosolvethemanddiscussnewmethodsand how block chain cab be developed into more reliable technologyforagricultureinfuture.

2. BLOCKCHAIN TECHNOLOGY

Blockchaincouldbealocalized,immutableinfothatcreates it easier to trace assets and record transactions in an exceedinglycompanynetwork.Associatepluscouldalsobe physical or intangible. On a blockchain network, much something valuable could also be recorded and listed, loweringriskandincreasingpotencyforallparties.datais crucialtobusiness.It.Blockchainisthatthegreatesttoolfor distributivethatdatasinceitprovidesperiodoftime,clear, shareable knowledge that's unbroken on associate immutableledgerandaccessiblecompletelytomembersofa permissionnetwork.Amongalternativethings,ablockchain network will track orders, payments, accounts, and production.toboot,asaresultofeverybodyhasaccessto

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constantversionofthereality,you'llbeabletoseeeachfacet of a group action from starting to finish, increasing your confidenceandgapupnewprospects.

2.1 KEY COMPONENTS OF BLOCKCHAIN TECHNOLOGY

Distributedledgertechnology:

The distributed ledger and its immutable record of transactionsareaunitonthemarkettoanyorallnetwork users.Transactionsareaunitsolelyrecordedoncewiththis shared ledger, preventing the duplication of effort gift in standardcompanynetworks.

Immutablerecords:

Onceagroupactionhasbeenfurthertothesharedledger,no participantis permissible to change or interfere with it. A contemporary group action should be further to undo a blunderinanexceedinglygroupactionrecordbeforeeach transactionsareaunitdisplayed.

Smartcontracts:

Asetofdirectionsreferredtoasasensiblecontractissaved ontheblockchainandmechanicallyadministeredtohurry uptransactions.asensiblecontractwillspecifyparameters for bond transfers, stipulate what quantity should be acquiredtravelinsurance,andfaralotof.

2.2 WORKING OF BLOCKCHAIN TECHNOLOGY

Eachcollectiveactivityisnotedasa"block"ofdatasinceit takes place. “These transactions show the transfer of associateplus,whichcanbeanactualproductorsomething moreabstract.Theknowledge block canbeusedtostore information on who, what, when, where, how much, and eventhecondition forexample,thetemperatureofafood shipment.”[14] Each blockis related to those that came beforeitandtothosethat weretherebefore.Asassociate plusisaffectedfromonelocationtoadifferentorpossession changes,theseblocksproduceaseriesofinformation.The blockslinkfirmlytopreventanyblockfrombeingchanged orablockfrombeingintroducedbetween2existingblocks, and because of this, the blocks attest to the transactions' exact timing and sequence. A block chain is a continuous, impenetrable series of transactions. Each new block strengthens the verification of the preceding block and, consequently, the block chain as a whole. This gives the block chain its important fixity and tamper-evident properties.Bydoingthis,youandothernetworkusersmay create a reliable record of transactions and remove the possibilityofstatemodificationbymaliciousactors.

2.3 TYPES OF BLOCKCHAIN NETWORKS

Publicblockchainnetworks:

Apublicblockchain,justliketheoneutilizedbyBitcoin,is one that anybody might be part of and use. Potential

drawbacks embrace the necessity for loads of procedure power, a scarcity of privacy for transactions, and shoddy security. These area unit crucial factors to require into considerationforblockchainusecasesinbusinesses.

Privateblockchainnetworks:

Anon-publicblockchainnetworkiscomparabletoapublic blockchain network in that it is a confined peer-to-peer network.Butonlyoneorganisationisinchargeoftheshared ledger,thedeathpenaltyagreementprocess,andnetwork governance. If the employment scenario holds true, this mightsignificantly boost participant confidence andtrust. Thereareoptionsforrunningaprivateblockchainbehinda companyfirewallorevenhostingiton-site.

Permissionedblockchainnetworks:

Businesses{thatproducethatmake}anon-publicblockchain usuallycreateanetworkthat'spermissioned.It'scrucialto recollect that public blockchain networks will have permissions moreover. As a result, there area unit limitations on that transactions and World Health Organization will participate within the network. To participate, participants should get a request or authorization.

Consortiumblockchains:

A blockchain's maintenance may be split across many corporations. WorldHealthOrganizationis permissible to submittransactionsoraccesstheinfoisdeterminedbythese pre-selectedorganizations Onceeverybodyconcernedinan exceedinglybusinessgroupactionhastohavepermissions and share possession of the blockchain, a syndicate blockchainisthatthemostsuitablechoice.

3. BLOCKCHAIN APPLICATIONS IN AGRICULTURE

1. CROPANDFOODPRODUCTION:[10]

The agriculture business faces varied obstacles to beat whereasincreasinggainamidunfavourableenvironmental conditions,suchas:

•Bymistreatmentquantity}amountofresourcespotential togrowalotoffood,weareabletomeetthewantsofthe growingpopulation.

• Increasing client pleasure whereas minimizing environmentalimpact

• Promoting offer chain transparency to confirm honest compensationforfarmersmanagingweathervolatility

ThefoodbusinessisdynamicalduetoblockchainandIoT. It’s designed to show farming into a property activity by utilizing a efficient methodology to maximize farming resourceslikewater,labourandfertilizers.

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Blockchainwillremodelthemethodofmanufacturingcrops orfoodthingsbyIoTpermitsgoodfarmingduringwhicha system is made to use sensors to observe the crop field (temperature,pH,soilwet,humidity,light).Farmerscould usetheinformationgeneratedbyIoTsensorsanddevicesto createeducatedchoicesconcerningtheeventoftheircrops.

Before being saved on the information storage, the data obtainedfromtheIoTdeviceshastobeunionized.thedata oughttobeunionizedandclearbeforebeingsavedonthe blockchain.knowledgeEnrichmentisemployedtoextend theworthofthecollectedknowledgeandliftthecaliberof theinformation.Knowledgeiscleanbeforebeingsavedon the distributed storage platform mistreatment ensuing 2 procedures,whichare:

• Additionofinformation

Information touching on the subsequent ought to be enclosedsoastoexpeditiouslyorganizedata:

Timestamp,sociologyandsort

• Preparationofinformationforcompliance

The block chain streamlines compliance social control by storingknowledge.

Meetingcomplianceensuresthattheprotectionmeasures area unit followed which the in person distinctive data associated with the information nonheritable from IoT devicesissecured.

Theenrichedknowledgeisthenregenerateintoamachine learning-readyformat.

Usingmachinelearningstrategiestocreatetheinformationa lotofperceptive.Thedatamadebythesensorsissubjected tomachinelearningtosupplyperceptivedata.Many highvalueusecasesisdrivenbypropheticmodels,including:

QualityofCropRecommendations

unbroken.there'sanoccasionofonepurposeoffailurewith the present system of centrally storing very important knowledge.theinformationisspreadoverallnetworknodes withblockchain,though.“[15].Itsoprohibitsasingleentity from taking control of the system. The block chain's knowledgeassortmentcancausegoodcontractstoexecute any internal rules that are nominal. The interchange of information keep on the block chain with the selected system stakeholders is created easier by good contracts. eachparticipantwithintheagriculturemarketaregoingto be able to see data, thus rising crop or food production potencyaregoingtobeeasy.

2. SUPPLY FOOD CHAIN[2]

Digitalandphysicalresourcesareaunitmanagedandhalftrack by this computerized info. The usage of block chain technologyraisesthecalibreoftransactions.Customerswill usetheblockchaintoseethelegitimacyAndcredibilityofan item.Figurefourshowshoweverblockchaincouldalsobe associatedwiththefoodchain;havingtheabilitytotracea product's journey facilitates legal answerableness and regulation. during this circumstance, good contracts area unit essential in spite of the transmission methodology. A blockchain-based offer chain system with certifiers from honourableorganizationsthencontrolstheprovisionchain becauseitmovesfromfinishuserstomerchants.thenetof Things(IoT)andblockchainareaunitessentialcomponents ofthedigitalrevolution,andthislinkisdocumentedinblock chain. The net of Things can still expand in terms of informationandjoineddevices.TheIoTmaybearesultof this. 2.0 mistreatment knowledge and IoT devices to get helpful insights. Block chain is projected to come up with $176billionby2030ifIoTproductivityrises.

TheFoodandDrugAdministration(FDA)in2020projected a replacement Era of Smarter Food Safety Blueprint to reinforcefoodtraceability.Toamplifythisideaandimprove food traceability, several mercantilism partners area unit wanting to expand the employment of blockchain technology. With the use of block chain technology, it is possible to securely track a finished or marketable good from the farm to the table. If BT is combined with IoT (Internet of Things), the whole food supply chain is practicallystoppedinitstracks.Inamatterofseconds,the IoT/QRcodeisreadandhalf-trackedfortotaltransparency.

CropDemandForecast

Farmers and different stakeholders can often be able to enhance the irrigation system due to the information collectedbymachinelearningalgorithms.topermitmarket participants in agriculture as well as growers, inventors, producers, service suppliers, and merchants to publicly accessit,theperceptiveknowledgeoughttobemaintained ontheblockchain.“TheIPFS(InterplanetaryFileSystem),a distributed storage platform with addresses hashed and keep on the block chain, is wherever the high-value knowledgenoheritablebymistreatmentmachinelearningis

Fourkeyareasincreasetheutilityofblockchaintechnology formanagingthefoodofferchain:

• Smartcontractsbetweenmercantilismpartners

• Improvedproductknowledgesecurity

• Foodofferchaindisintermediation

•

Improvedproductvisibilityandtraceability

WiththehelpofBTtechnology,systemsisinstantlychecked forfoodfraudandmerchandisemeddling,wastematerialis

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known and categorized among offer chains, food contamination issues is quickly known, helping in fast productrecollects,andtransitsecurityisimproved,thereby reducing food spoilage. The food offer chain's gift use of blockchaintechnologyremainsinitsinfancy.Thereadying of block chain technology remains in many ways in its infancy and imperfectness. to boot, for block chain technology to be totally used, there should be in depth engagement and cooperation from all stakeholders concerned within the food offer chain. the power to trace dataconcerningfoodqualityon wholeofferchainiscreated potentialbyblockchaintechnology'sopenness,security,and localizedoptions.

3. UPGRADINGFARMMANAGEMENTSOFTWARE

Farmmanagementsoftware(FMS)hada$1.5billionglobal marketin2017;however,GrandViewResearch'sresearch predicts that by 2025, that market would grow to $4.2 billion.

Acombinationofthreethingswillcontributesignificantlyto thisgrowth:

Permanent water shortages in the desert parts of Africa, Asia,andAustralia;

A rapid increase in population in Africa that will raise demandforfoodgoodsandtheresourcesneededtoproduce them;

Thecreationofnewtechnologies.

Blockchainremedy: Farmerswillstarttorealizethatthey needanoperatingenvironmentthatwillefficientlymanage allofthisandensurethesecurityofthesystemandthedata collectedastheyintegrateRFIDtagsintotheiroperationsto collect environmental and location data, drones, and artificialintelligence.

The block chain is the sole candidate for such a working environment. Only this database architecture can offer openness and security of information storage at the same time.OpennessisrequiredbecausethenewFMSmustallow unrestricted access to data for all parties, and security is necessary because you must be certain that the data is accurateandsafeguardedagainstfalsification.

Initialvictories(cases):[10]



AgriDigital.Australiancloudplatformformanaging agriculturalcommoditiesthatspeedsupdocument processingtoabouthalfofwhatitusuallytakes.

returnintheformofcropgrowth,farmerscanalso keeptrack ofalltheinformationonthefertilisers andfeedthattheyreceive.

4. AGRICULTURALINSURANCE:[10]

Only 20% of smallholder farmers in developing nations, including just 3% in sub-Saharan Africa, have access to agriculturalinsurancecoverage,accordingtoresearchbyISF Advisor (2018)(link is external). Blockchain is a revolutionaryInformationandCommunicationsTechnology (ICT)thatcanalterthewaydatais utilizedforagriculture insuranceandmakeitpossibletoestablishvaluechainsthat includesmallholders.

Blockchains can be used to securely log every transaction occurringonaspecificnetworkbecausetheyareessentially immutabledigitalledgers.Suchtechnicaladvancementscan support innovation across numerous industries, including insurance.

Inthemoderninsuranceindustry,centralizedcomputerized ledgersareusedtokeeptrackoftransactionsandmaintain information about policyholders. Much data may be physically entered on paper and preserved in physical foldersinalessdigitalizedsetting.Astechnologydevelops, freshdatafromsatellites,sensors,mobiledevices,andother digitalplatformsiseffortlesslyincorporatedintotheinternal dataandsystemsofinsurers.Insurancecompaniesdodue diligence,includingknow-your-customer(KYC)compliance, risk monitoring, fraud detection, and claims processing, usingallthedatagathered.Inordertoprosperinthedigital age,insurershavedramaticallyboostedtheirinvestmenton ITinfrastructureandcybersecurityinrecentyears.

Now think of distributed ledger technologies, such as blockchain,whereinformationisencryptedandstoredina digital database, with data processing and storage performed by separate distributed computer networks. Privacyismaintainedwhilesecurityanddataintegrityare ensured by cryptography. Participating computers in the network utilize algorithms to validate and store the transaction history and information without the requirementforacentralizeddatarepository.Usersmaysee the entire procedure. The most accurate comparison to blockchainwouldbearead-only"globalspreadsheet,"where anyonecanviewthetransactionsandthedataisunchanged and unalterable (immutability). Increased effectiveness, transparency,andtraceabilityoftheexchangeofinformation andvaluearethereforeguaranteed.Blockchaintechnology mightbeusedtocodeanything,includingbirthanddeath certificates, property titles, votes, and health records, in additiontorecordingfinancialactivitieslikepayments.



AgriChain.SaaSservicethataidsinenhancingand stabilizingthesupplychainforgrains.Theservice monitors the logistical process and makes use of smart contracts to show every aspect of these proceduresuponrequest.Inordertocalculatetheir

Whenpre-establishedconditionsaremet,smartcontracts, which are self-executing programmes, enable timely payments amongst stakeholders. This is done by causing datachangestoappearintheblockchain.Indexinsurance

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products settle claims without the need for farm-level verificationbyusingaproxy,suchasrainfall,temperature, areacropyield,orotherobjectiveindices.Thisapproachhas the potential to drastically speed up the insurance claim paymentprocedure,potentiallyresultinginmoreeffective contractenforcement.

InGhanaandKenya,cropinsuranceisbeingimplemented usingblockchaintechnology.TheinsurtechcompanyWorld Coverhasbeenopeningupinstitutionalinvestmentoptions in Ghana for a risk that was previously uninsurable. A blockchain-based pilot project in Kenya uses affordable weather-indexinsurancetooffersmallholderfarmers.Inthe end, transaction costs will be decreased due to the harmonization of farmer data, policy information, and paymentdata.

5.CROWDFUNDINGOFAGRICULTURALPRODUCTION

Successfulcases:  Agunity

/Agledger

Theplatformgivessmallfarmers,whoproduce80% of the food consumed in developing nations, access to finance and investment money. In Papua New Guinea, Myanmar, Kenya, Ethiopia, Ghana, and other nations, the system is undergoing testing. The initial findings are encouraging;insomecases,farmerincomehastripled.

 Lokaal.

Investments and microloans for small, regionalfarmers. 

EthicHub.

[11]

Agricultureisanindustrywithlargetransactioncosts,the majority of which happen quickly. Farmers in affluent nations borrow money from banks under more or less advantageousconditions.Intherestoftheglobe,abankloan can be acquired with terms that would make the farmer insolventwithjustonepaymentdelay.

Thenewtechnologywillexpandthelendingsector,enabling, forinstance,Africanfarmerstoobtainloanswithreasonable terms from European institutions. Additionally, you can develop models for crowd funding that let regular people finance firms in foreign nations thanks to the blockchain. Currently, it is dangerous, challenging, and entailed with overlycomplicatedadministrativeprocesses.Theseissues withcrowdfundingwillberesolvedviatokenization.

The ideal choice is to use a private blockchain because blockchain-basedagriculturalfundinginvolvesthepersonal information of farmers and fund contributors. When the needarises,directreal-timecontactwiththecontributorand the farmer is required for crowd funding; Hyper ledger Fabriccanfacilitatethis.

Forawiderangeofindustrialapplications,theHyperledger Fabric framework offers distributed ledger solutions over permissioned networks. The hyper ledger fabric design improvestherobustness,confidentiality,usercompliance, andadaptabilityofblockchain-basedsolutions.

The Linux Foundation launched the open source, permissioned blockchain system known as Hyper ledger Fabricin2015.Itisageneral-purpose,modularframework that provides distinctive identity management and access controlfeatures.Asaresult,itisappropriateforarangeof business applications, including trade finance, loyalty and rewardsprogrammes,track-and-traceofsupplychains,and clearingandsettlementoffinancialassets.

Forasmallfarmer,crowdfundingandany availablemicroloans.

6.COORPORATERESPONSIBILITY:[12]

Itisdifficulttoknowhow muchandwhatchemicalshave beenusedinthecultivationofatomato,howitwasstored, whether it has any strange DNA characteristics, and also wherethetomatogrew;onthefield,inthegreenhouseorin thebasement.Furthermore,youdonotknowwhoactually raisedthistomato,andwhetheritwasanAmericanfarmer or a worker in a third world country who is practically enslavedinhiswork.

Withtheadventoftheblockchain,thosewhoareinterested inthemethodsthatcrops,livestockorfisharegrownwillbe able,thankstothistechnology,totrackdownthe"history"of thecrop,forinstance,fromtheshelfinthestorebacktothe seedsthatitwasgrownfrom.The"history"ofsalmonfrom the time it was stocked in the freezer to the time it was grownonthefarm.Consequently,asaresultofthis,youwill beabletotrackeverything,fromthechemicalcomposition offertilizerstotheDNAofyourplants.

TheexampleofArc-net:

Arc-netoffersyouaneasyapproachtotellyourcustomers about the history of your product and showcase your distinctivebrand.Thearc-netsuite,whichisbuiltontopof blockchaintechnology,offersascalable,transparenttrack and trace solution with distinctive end-consumer engagement that gives you access to insightful behaviour data.



End-To-EndTraceability

Youruniqueassetscanbetrackedcompletelyusingthearcnet platform. You can visualize your entire end-to-end processusingourmodularinterface,oryoucanzeroinona fewcriticaldatapointslikestockcontrol.

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EndUserEngagement

Arc-distinctive net's "Storybook" interfaces allow you to communicatespecificsofyourworkflowwithyourclients. You will learn about the behaviours of end users as they engage with your custom Storybook, giving you deep businessintelligence.

ProductAuthenticity

Arc-net can assure your customers that they are buying authentic products by leveraging the immutability of the blockchainthatpowersourplatformandbyutilisingQRand NFC (or other consumer scannable tech). Through data analytics,wecanalsoassistyouinfindingpotentialparalleltradingandgreymarketvectors.

Table- 1:Asummaryofhowcompaniesacross the worldareimplementingblockchaintechnologyin agriculture.[6]

COMPANYNAME

APPLICATION OF BLOCK CHAIN TECHNOLOGY IN AGRICULTURE

HEADQUARTERS

Yara International Totracethecoffee fromtheirfarmers Oslo,Norway

CNH Industrial NV Intheagricultural supply chain to increaseinventory management

JD.com To track its beef products from overseas

BayerAG To monitor agricultural products

London, United Kingdom

Beijing,China

Leverkusen,Germany

3. LIMITATIONS OF BLOCKCHAIN TECHNOLOGY

COSTLYDATACOLLECTION:

The high cost of obtaining data to be posted to the distributed ledger may hinder the adoption of blockchain technologyinthebusiness.Adistributedledger'ssetupmay beratheraffordable,butcollectingthedatathattheledger needs to work, such the DNA of farm animals, might be expensive. Sampling can lower costs, but it needs a large populationofitemstoobtaindata.Thissuggeststhatsmaller farms have higher data gathering costs than larger farms, whichwidenstherevenuedifference.It'salsoimportantto notethatbusinessesmusteducatetheirstaffonhowtouse blockchaintechnologyandobtaintheappropriatetools.This takesalotofmoneyandtime.

1.INACCURACY AND COMPLEXIBILITY OF DATA INTEGRATION:

Informationgatheredmaynotbereliablesincetheaccuracy of data entered by sensors or by individuals cannot be guaranteed.Ingeneral,itcouldbechallengingtointegrate and evaluate some particular types of data inside the agriculturalsupplychain.Forinstance,itcanbechallenging to locate and assess environmental data using objective techniques.Additionally,blockchainmustbeintegratedwith pre-existing database systems like enterprise resource planning and warehouse management systems. Many industry stakeholders might not have the resources to accomplishtheabovesincebuildingtheentireinfrastructure tousetheblockchaintakestimeandtechnicalexpertise.

2.POLICYANDREGULATORYRISKS:

LawsonGrains To increase its grain farming process

Unilever To offer funds to smallholder farming

Napolina(Princes Group) To tackle the illegallabourissue in the farming environment

Bridgehead To increase the transparencyofits process

Anchor To reduce carbon emissions from theirprocess

Hungary

Australia HortobagyAngus To implement a traceability solution

London, United Kingdom

Liverpool,England

Therisingfrequencyofreportsofcryptocurrencyhacking hasledtotheintroductionofnewlegislativeandregulatory frameworks. The severity of the limits imposed by these laws varies from nation to nation. Before implementing blockchain for business purposes, Know Your Customer (KYC)/AntiMoneyLaundering(AML)complianceisrequired forcurrencyorinternationaltransactioninitiatives,anditis criticaltocomprehendthenationalframeworks

Leatherhead, United Kingdom

Mumbai,India

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4. CONCLUSION

Blockchain technology has the power to significantly enhanceeveryelementofagriculture.

Accordingtothisreport,blockchaintechnologyisexpected to have a big future impact on the agriculture sector and severalrelatedverticals.

By giving a comprehensive list of prior applications and study directions, this survey assists in cutting down on research time. A comprehensive list of blockchain and agricultural-related factors satisfies the goal of the investigationintoblockchainapplicationsinagricultureand itsverticals.

Inpreviousresearch,itwasdiscoveredthattheintegrityof blockchain,itsresistancetomanipulation,anditsdistributed naturemadeitsimpletomeettheimportantrequirementsof trust and transparency in the agriculture area. The fundamental characteristics of blockchain contribute to improved and simple governance and management in the agriculturalsector.

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[9] https://www.researchgate.net/publication/362625 673_Analysis_of_Agriculture_and_Food_Supply_Chai n_through_Blockchain_and_IoT_with_Light_Weight_ Cluster_Head

[10] https://merehead.com/blog/how-to-useblockchain-in-agriculture-10-use-cases/ by Yuri Musienko,November162021.

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