Title: Blockchain Integration And Its Effect On Agricultural Supply Chain Management
1- Blockchain Integration And Its Effect On
Agricultural Supply Chain Management
2Table of content
- Blockchain Integration And Its Effect On
Agricultural Supply Chain Management
Challenges Faced By Agricultural Supply Chain
Management
- Blockchain Technology Is Transforming
Agricultural Supply Chain Management
Wrapping Up
3About Us - Financing Solutions For Climate
Resilient, Future Ready Profitable Farming.
- Netafim Agricultural Financing Agency Pvt. Ltd.
(NAFA) was promoted by Netafim Group, Israel to
finance the stakeholders in micro-irrigation
value chain. Netafim invented and pioneered the
adoption of drip irrigation system across the
world with the mission to promote a global change
in the way water is used in agriculture. - One of the major hurdles in adoption, of micro
irrigation by farmers, was their access to
finance, hence Netafim decided to provide
financial solutions to the stakeholders in micro
irrigation value chain. NAFA, the Non-Banking
Finance Company (NBFC) of Netafim Group, received
the RBI license and commenced operations in
March2013.
4- Blockchain Integration And Its Effect On
Agricultural Supply Chain Management
- Blockchain is an emerging innovative technology
changing many industries and has immense
potential to impact agricultural supply chain
management systems. People have become conscious
about their food choices and want to know about
production certificates, chemicals and
fertilisers used, production standards, and more.
That is where blockchain technology is helpful in
agribusiness supply chain management to improve
food safety, quality, and the traceability of the
farming supply chain. Blockchain technology is
revolutionising agriculture by solving
innumerable challenges the agriculture sector
faces. - Adopting blockchain technology in supply chain
management in the agricultural sector has
increased transparency, efficiency, and the
consumer experience.
5- Blockchain Integration And Its Effect On
Agricultural Supply Chain Management
- According to a market research study, the global
blockchain technology in supply chain management
was around USD 262.9 million in 2021, and it is
estimated to increase to USD 3153.7 million by
2028 with a CAGR of 51.3. Blockchain integration
in agricultural supply chain management prevents
data manipulation, increases transparency, and
prevents fraud. Agri finance companies in India
like NAFA (Netafim Agricultural Financing Agency)
are helping farmers adopt new technologies like
blockchain into their system through agricultural
loans. - The human population is proliferating, leading to
increasing demand for food. To overcome the
challenges and satisfy the growing requirements,
farmers can make the most of smart technologies
like blockchain and NetBeat software that help in
sustainable farming, optimise yield, save cost,
and meet the rising demand for food with
transparency and integrity, and efficiency.
Furthermore, Agri finance companies in India,
like NAFA, are helping farmers adopt these modern
technologies by financing solutions to enable
smart agriculture and boost automation processes.
Technologies like blockchain are empowering
farmers to produce high-quality food and
efficient supply chain management in agriculture.
6- Challenges Faced By Agricultural Supply Chain
Management
- The supply chain ecosystem consists of many
processes and requires intermediaries to carry
them. Some of the problems the agricultural
sector encounters in the supply chain are product
traceability, transparency, food safety and
quality, and supply chain inefficiency. The
problem arises because the database records are
maintained separately and unavailable to all the
stakeholders, which, in turn, gives rise to
challenges in transactions. Another significant
issue is that the recorded database does not
ensure that it is authentic and has not been
tampered with or modified. And also, increased
food demand poses a problem of fake products that
threaten the various stages of the supply chain
hence it develops a lack of trust between the
producers and consumers. The traditional way of
managing data is risky as it leads to inaccurate
data, misuse, and sometimes prone to
cyber-attacks.
7- Blockchain Technology Is Transforming
Agricultural Supply Chain Management
- Blockchain is an incredible technology
proliferating and addressing the challenges in
the agricultural supply chain mentioned above.
The global blockchain market size in agriculture
and food supply chain was valued at USD 133
million in 2020 and is estimated to reach USD 948
million by 2025. The blockchain allows the supply
chain to automate the processes of storing data
in a digital format, making it tamperproof. For
transactions and negotiations, it also eliminates
the need for mediators and synchronises the
transactions data across networks with ease of
tracking transaction data of its origin. The
smart contracts in blockchain help efficiently
handle all the communications and dealings
between the stakeholders in the supply chain. - Furthermore, blockchain and IoT-based food
traceability is becoming key to smart
agriculture. Food safety has become of utmost
importance, and a reliable traceability system
can track and monitor the lifecycle of food
production from raw materials to cultivation to
processing, transportation, warehousing, delivery
and more. The technologies like blockchain and
IoT are proving to be efficient in ensuring food
safety and eliminating human intervention.
Blockchain technology in the agricultural supply
chain is tamperproof, reliable, encrypted,
increases transaction efficiency, and helps in
advanced traceability in the supply chain.
8- Blockchain technology is becoming a crucial part
of agricultural supply chain management. It
enables food security, food safety, food
integrity, support for small farmers, waste
reduction, environmental awareness, and better
supply chain control. Farmers can use blockchain
technology to the fullest by availing of
agricultural loans and upgrading their farming
and supply chain practices for sustainable
business.
8
9What We Promote?
Sustainable Agriculture Practices by promoting
climate resilient technologies by focusing on
using water efficiently to reduce negative impact
on environment.
Access to Financial Service To small holder
farmers and Small Medium rural agri enterprises
Improving Farmers Income Level By helping him to
adopt cash-crops, increasing crop-productivity
and helping him to grow more with less
10Thank you
Netafim Agricultural Financing Agency Pvt. Ltd.
308, 3rd Floor, Windfall, D- Wing, Sahar Plaza
Complex,Andheri Kurla Road, J B Nagar, Andheri
East, Mumbai 400059
Phone Number 91-22-6170 7600 Toll-Free 1800
2677762 Whatsapp 91-8928493972 Email
info_at_nafa.co.in customercare_at_nafa.co.in
Web https//nafa.co.in