Blockchain and big data are transforming agribusiness transaction cost management

Abstract

In the evolving landscape of agribusiness, blockchain and big data emerge as pivotal technologies driving a new era of transaction cost management. This paper explores the synergistic potential of blockchain's decentralized ledger system and big data's predictive analytics to streamline operations, enhance transparency, and foster trust across the agricultural supply chain. We delve into case studies demonstrating how blockchain facilitates secure and efficient transactions, while big data enables informed decision-making and resource optimization. The convergence of these technologies not only reduces transaction costs but also propels the agribusiness sector towards sustainable growth and resilience against market volatilities. This study underscores the necessity for a robust digital infrastructure, policy frameworks, and stakeholder engagement to fully harness the benefits of blockchain and big data in agribusiness.