Prospects for using “blockchain” technology in agriculture

Oleksandr Hrybynyuk, Bohdan Dukhnytskyi and Oleg Sheremet

Ekonomika, Journal for Economic Theory and Practice and Social Issues, 2018, vol. 25, issue 3

Abstract: The purpose of the article is to study the key characteristics of modern information technologies for their practical use in domestic agricultural production and trade. Research methodology. In the research process the following methods have been used: theoretical generalization, analysis and synthesis, comparative evaluation, graphical. Research results. The mechanism of functioning and features of the newest Internet-technologies for business has been considered, and their practical significance has been investigated for optimization relations between seller and buyer. There have been given advantages of “blockchain” technology for all market participants while using it in supplying of agricultural products, which allows to confirm the authenticity of origin and qualitative characteristics of products. Possible difficulties and disadvantages of existing information system content have been identified, provided recommendations for ”blockchain” technology and its evaluation for domestic producers of agricultural products. Elements of scientific novelty. Scientific novelty of the article lies in the proposed mechanism of “blockchain” technology in Ukrainian agriculture, which will change the existing practice of trading and settlement transactions between contractors on agrarian market. Practical significance. The scientific article is aimed at promoting development of a nationwide program for the Internettechnology usage in domestic agricultural production and trade, which will accelerate the interaction process between market participants, increase the economic efficiency of operations in agriculture and reduce the dependence on the use of intermediary services. Figs.: 1. Refs.: 11.

Keywords: Research; and; Development/Tech; Change/Emerging; Technologies (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ags:sereko:411508

DOI: 10.22004/ag.econ.411508

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