IDEAS home Printed from https://ideas.repec.org/a/gam/jftint/v15y2023i1p38-d1037192.html
   My bibliography  Save this article

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
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1999-5903/15/1/38/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1999-5903/15/1/38/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    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. David Yermack, 2017. "Corporate Governance and Blockchains," Review of Finance, European Finance Association, vol. 21(1), pages 7-31.
    3. 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).
    4. 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.
    5. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Flori, Andrea, 2019. "News and subjective beliefs: A Bayesian approach to Bitcoin investments," Research in International Business and Finance, Elsevier, vol. 50(C), pages 336-356.
    2. Andrea Flori, 2019. "Cryptocurrencies In Finance: Review And Applications," International Journal of Theoretical and Applied Finance (IJTAF), World Scientific Publishing Co. Pte. Ltd., vol. 22(05), pages 1-22, August.
    3. Ilya Ivaninskiy & Irina Ivashkovskaya & Joseph A. McCahery, 2023. "Does digitalization mitigate or intensify the principal-agent conflict in a firm?," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 27(3), pages 695-725, September.
    4. Christie Smith & Aaron Kumar, 2018. "Crypto‐Currencies – An Introduction To Not‐So‐Funny Moneys," Journal of Economic Surveys, Wiley Blackwell, vol. 32(5), pages 1531-1559, December.
    5. Jonathan Donier & Jean-Philippe Bouchaud, 2015. "Why Do Markets Crash? Bitcoin Data Offers Unprecedented Insights," PLOS ONE, Public Library of Science, vol. 10(10), pages 1-11, October.
    6. White, Reilly & Marinakis, Yorgos & Islam, Nazrul & Walsh, Steven, 2020. "Is Bitcoin a currency, a technology-based product, or something else?," Technological Forecasting and Social Change, Elsevier, vol. 151(C).
    7. Pieters, Gina & Vivanco, Sofia, 2017. "Financial regulations and price inconsistencies across Bitcoin markets," Information Economics and Policy, Elsevier, vol. 39(C), pages 1-14.
    8. Parthajit Kayal & Purnima Rohilla, 2021. "Bitcoin in the economics and finance literature: a survey," SN Business & Economics, Springer, vol. 1(7), pages 1-21, July.
    9. Lin William Cong & Zhiguo He & Jiasun Li & Wei Jiang, 2021. "Decentralized Mining in Centralized Pools [Concentrating on the fall of the labor share]," The Review of Financial Studies, Society for Financial Studies, vol. 34(3), pages 1191-1235.
    10. Wang, Chengfu & Chen, Xiangfeng & Xu, Xun & Jin, Wei, 2023. "Financing and operating strategies for blockchain technology-driven accounts receivable chains," European Journal of Operational Research, Elsevier, vol. 304(3), pages 1279-1295.
    11. Jonathan Donier & Jean-Philippe Bouchaud, 2015. "Why Do Markets Crash? Bitcoin Data Offers Unprecedented Insights," Post-Print hal-01277584, HAL.
    12. Bhuiyan, Rubaiyat Ahsan & Husain, Afzol & Zhang, Changyong, 2021. "A wavelet approach for causal relationship between bitcoin and conventional asset classes," Resources Policy, Elsevier, vol. 71(C).
    13. Ke Wu & Spencer Wheatley & Didier Sornette, 2018. "Classification of cryptocurrency coins and tokens by the dynamics of their market capitalisations," Papers 1803.03088, arXiv.org, revised May 2018.
    14. Olivier Meier & Aurélie Sannajust, 0. "The smart contract revolution: a solution for the holdup problem?," Small Business Economics, Springer, vol. 0, pages 1-16.
    15. Vasu Kalariya & Pushpendra Parmar & Patel Jay & Sudeep Tanwar & Maria Simona Raboaca & Fayez Alqahtani & Amr Tolba & Bogdan-Constantin Neagu, 2022. "Stochastic Neural Networks-Based Algorithmic Trading for the Cryptocurrency Market," Mathematics, MDPI, vol. 10(9), pages 1-15, April.
    16. Vasilios Plakandaras & Elie Bouri & Rangan Gupta, 2019. "Forecasting Bitcoin Returns: Is there a Role for the U.S. – China Trade War?," Working Papers 201980, University of Pretoria, Department of Economics.
    17. Plinio Limata, 2020. "Blockchain and Institutions (II): The Realm of Law," CERBE Working Papers wpC36, CERBE Center for Relationship Banking and Economics.
    18. Laurens Swinkels, 2023. "Empirical evidence on the ownership and liquidity of real estate tokens," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-29, December.
    19. Klaus Grobys, 2021. "When the blockchain does not block: on hackings and uncertainty in the cryptocurrency market," Quantitative Finance, Taylor & Francis Journals, vol. 21(8), pages 1267-1279, August.
    20. Stefano Martinazzi & Daniele Regoli & Andrea Flori, 2020. "A Tale of Two Layers: The Mutual Relationship between Bitcoin and Lightning Network," Risks, MDPI, vol. 8(4), pages 1-18, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jftint:v:15:y:2023:i:1:p:38-:d:1037192. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.