Blockchain Integration And Its Effect On Agricultural Supply Chain Management

1. Blockchain Integration And Its Effect On Agricultural Supply Chain Management

2. Table of content Challenges Faced By Agricultural Supply Chain Management About Us Blockchain Integration And Its Effect On Agricultural Supply Chain Management Blockchain Technology Is Transforming Agricultural Supply Chain Management  Wrapping Up

3. About 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 March’2013.

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. Wrapping Up • 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

9. What 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 Farmer’s Income Level By helping him to adopt cash-crops, increasing crop-productivity and helping him to grow more with less

10. Thank you Netafim Agricultural Financing Agency Pvt. Ltd. 308, 3rd Floor, Windfall, D- Wing, Sahar Plaza Complex,AndheriKurla Road, J B Nagar, Andheri East, Mumbai 400059 Phone Number : +91-22-6170 7600 Toll-Free : 1800 2677762 Whatsapp : +91-8928493972 Email: info@nafa.co.in customercare@nafa.co.in Web: https://nafa.co.in