Blockchain-based Agricultural Supply Chain Management System in Malaysia
Blockchain is a revolutionary immutable, shared ledger technology for recording transactions between parties in a secure, chronological chain. By distributing Blockchain databases between multiple linked-nodes, it essentially does not require legal tender nor abiding legal framework by central bank regulation thus, removing intermediaries in transaction. This decentralized approach effectively made the transaction transparent to all connected nodes in the network. In this paper, a preliminary study on the implementation of smart contract in adoption of Blockchain based system will be discussed focusing on agricultural sector in supply chain system, to prevent fraud, track and to verify that by applying smart contract, the state of an event in the supply chain transaction can be autonomously execute when specific rule are meet. A proposed solution is to embed Blockchain technology into agricultural supply chain management system with digital authentication and tagging function to track product’s record of ownership and location tracking in Malaysia perspective.