Blockchain in Agriculture Market 2021 - Global Demand & Analysis By 2027

Javed02 Sep, 2021Business

A blockchain is a digital transaction ledger, prolonged by a network of multiple computing machines that are not depending on a trusted third party. Individual transaction data files (block) are managed through specific software platforms that allow the data to be transmitted, processed, stored, and represented in a human-readable form.Blockchain is one of the innovative technologies which is used in the agriculture and food supply chain which helps to stimulate market growth over the forecast period. Furthermore, according to Chang, Iakovou, and Shi 2019, blockchain in agriculture and food supply chain management is expected to grow at an annual growth rate of 87% and increase from $60.8 million in 2018 to $429.7 million by 2023.