What is it about?
National Agricultural Market, through networking of the APMCs, provides electronic trading for the agricultural produce. Under e-NAM, all the trading is to be done through a digital platform as prescribed to ensure transparency in the transactions and provide a fair price to the farmers. The study was conducted in three APMCs of Uttar Pradesh to analyze the ground level practices taking place in these APMCs and the level of adoption of e-NAM. It was found that there is a considerable variation in the arrival and bidding prices obtained from the APMCs when compared with the data available on the agriculture market information system (Agmarknet).
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Why is it important?
The study proposes a blockchain-based infrastructure to facilitate a more transparent, autonomous system to empower the information system and efficient application of government rules and regulations pertaining to agricultural transactions in the APMCs through the utilization of smart contracts.
Perspectives
The use of blockchain in the agriculture trade could bring a drastic change in the living standards of the farmers and minimize the farmer suicide rate by enhancing their earning. As the cost of living is increasing and villages have become market ground for various companies, it has become essential to enable farmers financially sound by providing a fair price for their produce. By writing the government rules regarding agriculture trading in the smart contract and integrating it into the agriculture trading system, there will be a high reduction in the monitoring burden. The blockchain facilitated recordkeeping of all the transactions made, which are immutable and hence reduces the auditing burden of the government. We can conclude that the adoption of blockchain technology in the existing agriculture market information system and trading will bring fairness in the system and also reduce the operational costs.
Dr. Jitendra Yadav
ICFAI Foundation for Higher Education
Read the Original
This page is a summary of: Autonomous Agriculture Marketing Information System Through Blockchain: A Case Study of e-NAM Adoption in India, September 2020, World Scientific Pub Co Pte Lt,
DOI: 10.1142/9789811205279_0005.
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