Technological model for the exchange of goods in the Peruvian agricultural business sector using the smart contracts and blockchain

Abstract

To make the purchase or sale of a product through the internet, an intermediary is needed to validate certain operations, which make the products more expensive; according to INEI (National Institute of Statistics and Informatics), 68% of Peruvian agricultural sector distrusts the use of the internet for the sale of their products, so it is unlikely that they will carry out certain operations over the internet. As a result, two emerging technologies were created that offer new opportunities for the design of decentralized markets, allowing to increase the security of transactions, saving money by not depending on an intermediary, increasing the confidence of farmers and ensuring transparency and immutability of each transaction; these technologies are the Smart Contracts and Blockchain. They are technologies store information in a shared and transparent system for all the members; likewise, that the records of transactions cannot be altered, thus ensuring the transparency and immutability of the information. This document proposes a model that uses the Smart Contract and Blockchain technologies applied in the Peruvian agricultural business sector, which allows both the buyer and seller to commercialize agricultural products.