Blockchain Technology: A Double-Edged Sword when it Comes to Sustainable Food Security
Authors/Creators
- 1. Sharda School of Business Studies, Sharda University, Greater Noida, Uttar Pradesh, India
- 2. Mittal School of Business, Lovely Professional University, Phagwara, Punjab, India
Description
Abstract: Blockchain technology can improve long-term food security due to its application, like immutable databases, traceability, peer-to-peer networks and smart contract processes just a few of the ways. According to FAO (2015), the prevalence of undernourishment increased from 9.3 to 9.9 percent between 2020 to 2021. Between 702 and 828 million individuals were afflicted by hunger in 2021. In this context, this study uses evidence from the literature to identify blockchain drivers, benefits and challenges for achieving sustainable food security. A comprehensive literature review is conducted using Scopus, Web of Science, JSTOR, Google Scholar, ACADEMIA, NCBI, PubMed, ProQuest, EBSCO and Springer. The findings indicate that tracking, real-time information availability and decentralized and persistent databases are the most influential elements. Understanding how these factors interact and influence one another can help policymakers, government organizations, and other key stakeholders in India accelerate the adoption of blockchain technology in the country’s food supply chain.
Keywords: Blockchain; Disruptive; Technology Adoption; Food Security; Sustainable Goals
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