The impact of blockchain technology on the cost of food traceability supply chain

Abstract

The establishment of food traceability supply chain is an effective way to solve the problem of food safety. But the cost of operating traditional food traceability supply chain system is high. The enterprise on the chain are not willing to participate, and the data on the chain is easy to falsified, which leads to the existence of food traceability and the lack of consumers' willingness to buy for it. Based on this, solving the high cost in the technical point has become a feasible meaning. Introducing blockchain technology into food safety traceability can improve brand reputation, maintain market and consumer confidence, improve supply chain management, accelerate product and reduce liability risk. In this paper, from the compatibility of block technology and food traceability supply chain, it is concluded that the introduction of blockchain technology will reduce the transaction cost, quality cost, time cost, activity cost, and supply chain traceability additional cost in the food supply chain cost. By comparing with the application cost of block chain technology, this paper explores the cost control mechanism of food traceability supply chain based on block chain, so as to promote the development of food traceability supply chain. The application of blockchain technology in food traceability supply chain will improve the food traceability supply chain system.