Blockchain and its future in the supply and value chains of the dairy industry

Abstract

Blockchain, an emerging technology exhibiting swift growth, significantly bolsters transparency within a given supply chain, enabling secure traceability, backtracking, and info tracing. Blockchain technology holds substantial promise for the dairy sector, offering enhancements unnecessary market intermediaries, thereby broadening access to credit and insurance for farmers, particularly in developing economies Such advancements could lead to more sustainable, efficient, and resilient livestock practices. However, the technology faces challenges, including the need for sophisticated infrastructure, cross-platform software, and skilled personnel with advanced expertise. Divergence in technological capabilities between developed and developing nations may hinder trade and exacerbate disparities. Regulatory barriers could also restrict blockchain's application. Thus, it is imperative to enhance blockchain knowledge among trade authorities and policymakers to facilitate its broader adoption. The objective of this review is to discuss principles of blockchain and proposed future work pathways for its use in the dairy industry.