Determining the impact of blockchain technologies on the grain supply chain tracking system in the EU

Authors

DOI:

https://doi.org/10.15587/1729-4061.2024.318931

Keywords:

blockchain technologies, supply chains, grain industry, automation, document flow, economic effect, investment return

Abstract

The object of this paper is blockchain technology in the tracking system of grain supply chains.

The current study considers the task of determining the impact of blockchain technology introduction on the tracking system of grain supply chains.

The key problems in the system of grain supply chains have been identified and the tasks to solve them have been proposed. The characteristics of key technologies in the implementation of blockchain in the system of grain supply chains have been defined, such as smart contracts, the Internet of Things (IoT), interplanetary file system (IPFS), contactless tags (RFID), Ethereum platform (identified as the best for supply chain tracking). The influence of factors on the introduction of blockchain technologies into the grain supply chain tracking system was determined using a SWOT analysis. Strengths include transparency, increased trust, automation of processes and protection against falsification. Weaknesses include high implementation costs, difficulty scaling, and the need for staff training. Opportunities that open up through the use of blockchain include attracting new partners, increasing competitiveness, and developing new markets. Threats include legal difficulties, technical failures, high energy costs, and resistance from market participants. An assessment of the investment attractiveness of introducing blockchain technology into the grain supply chain tracking system was carried out by calculating such indicators as economic effect; net present value (NPV) of implementing blockchain technologies; payback period of investments. According to the results of analysis, the following data were obtained: NPV (150439 a.u.)>0, the payback period of investments is 2.8 years, which is acceptable for large agricultural holdings. Prospects for development have been determined, in particular, the unification of agricultural holdings for the joint implementation of blockchain technologies in the tracking system of grain supply chains, which would be a strategically beneficial solution for all participants in the supply chain

Author Biographies

Halyna Kupalova, Taras Shevchenko National University of Kyiv

Doctor of Economic Sciences

Department of Environmental Management and Entrepreneurship

Nazar Didukh, Taras Shevchenko National University of Kyiv

Department of Environmental Management and Entrepreneurship

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Determining the impact of blockchain technologies on the grain supply chain tracking system in the EU

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Published

2024-12-27

How to Cite

Kupalova, H., & Didukh, N. (2024). Determining the impact of blockchain technologies on the grain supply chain tracking system in the EU. Eastern-European Journal of Enterprise Technologies, 6(13 (132), 116–127. https://doi.org/10.15587/1729-4061.2024.318931

Issue

Vol. 6 No. 13 (132) (2024): Transfer of technologies: industry, energy, nanotechnology

Section

Transfer of technologies: industry, energy, nanotechnology

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Copyright (c) 2024 Halyna Kupalova, Nazar Didukh

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