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APPLICATION OF BCT IN AGRICULTURALSUPPLY CHAIN MANAGEMENT

Abstract

Abstract: As a software infrastructure that incorporates cryptographic, data processing, networking, and incentive mechanisms to enable the authentication, execution, and documentation of transactions between parties, block chains are now firmly developed. While blockchain systems were initially designed to promote new types of digital currencies in order to make exchanges faster and safer, as a new foundation for all modes of transactions, they now hold great potential. As a platform for performing 'intelligent contracts' for transactions, especially for high-value goods, Agriculture industry stands tobecome a key beneficiary of this technology. First, Differentiating between private digital currencies and their underlying decentralized management and block chain technology is essential. The distributed and cross-border architecture of digital currencies such as bitcoins indicates that the adoption of the main protocols of these networks by central banks is unlikely to be successful. Financial institutions focus more on knowing 'on-ramps' and 'off-ramps' which constitute the links to the traditional payment service, instead of being able to track and control the currencies themselves. Unlike the digital currency element of the block chain, The block chain function has the potential to be widely used in industrial and agricultural financing, especially whereprocesses include many different parties with no trustworthy centralized authority.Keywords: Agriculture, supply chain, Blockchain, Cryptography, etc.

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