Towards Trust Enabled Commodity Market for Farmers with Blockchain Smart Contracts
Pages 75 - 82
Abstract
This paper presents a conceptual model for an online agricultural commodity market that empowers farmers with a better price determination mechanism through collective marketing and Blockchain smart contracts. The model makes collective marketing possible by generating Many-one-Many relationships between farmers, farmers' groups, and buyers. While collective marketing improves farmers' bargaining position leading to higher rates, trust enabled by Blockchain smart contracts facilitates farmers to establish deals with buyers who offer the best rate transforming the commodity market into a sustainable market.
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Index Terms
- Towards Trust Enabled Commodity Market for Farmers with Blockchain Smart Contracts
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Published In
May 2020
163 pages
ISBN:9781450377102
DOI:10.1145/3399871
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- Nanyang Technological University
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Association for Computing Machinery
New York, NY, United States
Publication History
Published: 03 July 2020
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- Research
- Refereed limited
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ASSE '20
ASSE '20: 2020 Asia Service Sciences and Software Engineering Conference
May 13 - 15, 2020
Nagoya, Japan
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