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Blockchain, Quo Vadis? Recent Changes in Perspectives on the Application of Technology in Agribusiness

Author

Listed:
  • Geneci da Silva Ribeiro Rocha

    (Interdisciplinary Center for Studies and Research in Agribusiness—CEPAN, Universidade Feral do Rio Grande do Sul—UFRGS, Porto Alegre 90040-060, Brazil)

  • Diego Durante Mühl

    (Interdisciplinary Center for Studies and Research in Agribusiness—CEPAN, Universidade Feral do Rio Grande do Sul—UFRGS, Porto Alegre 90040-060, Brazil)

  • Hermenegildo Almeida Chingamba

    (Graduate Program in Production Engineering—PPGEP, Universidade Federal Rio Grande do Sul—UFRGS, Porto Alegre 90035-190, Brazil)

  • Letícia de Oliveira

    (Interdisciplinary Center for Studies and Research in Agribusiness—CEPAN, Universidade Feral do Rio Grande do Sul—UFRGS, Porto Alegre 90040-060, Brazil
    Department of Economics and International Relations—DERI, Faculty of Economics—FCE, Universidade Federal do Rio Grande do Sul—UFRGS, Porto Alegre 90040-000, Brazil)

  • Edson Talamini

    (Interdisciplinary Center for Studies and Research in Agribusiness—CEPAN, Universidade Feral do Rio Grande do Sul—UFRGS, Porto Alegre 90040-060, Brazil
    Department of Economics and International Relations—DERI, Faculty of Economics—FCE, Universidade Federal do Rio Grande do Sul—UFRGS, Porto Alegre 90040-000, Brazil)

Abstract

Information technologies such as blockchain are developing fast, overcoming bottlenecks, and quickly taking advantage of their application. The present study analyzes recent changes concerning the benefits, disadvantages, challenges, and opportunities of blockchain applications in agribusiness. Interviews were conducted with and a questionnaire was applied to professionals working in the development and application of blockchain technology in agribusiness, to compare their perception of the recent advances. The results showed that the importance of blockchain technology to improve governance and information flow along supply chains has increased, and this is the main perceived benefit. The main disadvantages were removing intermediaries and the high cost of implementing the technology. The absence of a widely accepted platform in blockchain operations is the leading and growing challenge, while patterns for blockchain technology seem to be being overcome. The integration of blockchain with new technologies, and the competitiveness provided by the technology, are seen as the main and growing opportunities. Despite the study limitations, we conclude that the benefits and opportunities associated with blockchain application in agribusiness outweigh the challenges and disadvantages in number and importance, and are becoming more relevant.

Suggested Citation

  • Geneci da Silva Ribeiro Rocha & Diego Durante Mühl & Hermenegildo Almeida Chingamba & Letícia de Oliveira & Edson Talamini, 2023. "Blockchain, Quo Vadis? Recent Changes in Perspectives on the Application of Technology in Agribusiness," Future Internet, MDPI, vol. 15(1), pages 1-14, January.
    • Handle: RePEc:gam:jftint:v:15:y:2023:i:1:p:38-:d:1037192
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    References listed on IDEAS

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    1. Oguntegbe, Kunle Francis & Di Paola, Nadia & Vona, Roberto, 2022. "Behavioural antecedents to blockchain implementation in agrifood supply chain management: A thematic analysis," Technology in Society, Elsevier, vol. 68(C).
    2. Liang Liu & Futou Li & Ershi Qi, 2019. "Research on Risk Avoidance and Coordination of Supply Chain Subject Based on Blockchain Technology," Sustainability, MDPI, vol. 11(7), pages 1-14, April.
    3. Ali, Robleh & Barrdear, John & Clews, Roger & Southgate, James, 2014. "The economics of digital currencies," Bank of England Quarterly Bulletin, Bank of England, vol. 54(3), pages 276-286.
    4. David Yermack, 2017. "Corporate Governance and Blockchains," Review of Finance, European Finance Association, vol. 21(1), pages 7-31.
    5. Wang, Wei & Lyu, Gaoyan, 2020. "Sequential product positioning on a platform in the presence of network effects," International Journal of Production Economics, Elsevier, vol. 229(C).
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    1. Christoph Stach & Clémentine Gritti, 2023. "Special Issue on Security and Privacy in Blockchains and the IoT Volume II," Future Internet, MDPI, vol. 15(8), pages 1-7, August.
    2. Vaibhav Sharma & Rajeev Agrawal & Vijaya Kumar Manupati, 2024. "Blockchain technology as an enabler for digital trust in supply chain: evolution, issues and opportunities," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 15(9), pages 4183-4209, September.

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