ORGANIZATIONAL AND ECONOMIC POTENTIAL OF BLOCKCHAIN TECHNOLOGIES IN AGRIBUSINESS
Abstract
The article reveals the organizational and economic potential of Blockchain technologies in agribusiness, analyzes current trends in their application in the world and in Ukraine for the distribution of innovative digital solutions in agricultural production. It is proven that Blockchain is a key decentralization tool for creating a distributed and unified data record and ensuring high security and transparency of information. It is substantiated that Blockchain technologies free agribusiness participants from the need to communicate with a centralized node of the information flow and create Blockchain systems in the agricultural sector in order to increase the level of autonomous cooperation in the product and capital market, which in the context of the resulting shifts in the digital environment allows regulating digital financial assets as means of payment in stock markets and securing them from breaking the chain of financial transactions in the banking sector under vital smart contracts and agreements, with the possibility of open tracking of cash flows, which are critically important for business owners and counterparties at the national and international levels. An analysis of the use of Blockchain technologies by type in the global agribusiness supply chain market was conducted. It was determined that the global market for Blockchain solutions for the agricultural sector grew from $128 million in 2018 to over $1.8 billion in 2023, with a forecast to reach $3.5 billion in 2025. The largest investments are made in the areas of logistics, agricultural trading, supply chain management and smart contracts. In Ukraine, the most significant Blockchain technologies in the agricultural sector are AgriChain, GrainChain, ProZorro.Sale. Agribusiness in Ukraine, using Blockchain technologies, creates new opportunities for financing the production process and entering global markets through transparent public registers that are able to provide customers with simple and effective tools for tracking the route of documenting transactions regarding the movement of assets and products. An important aspect of Blockchain logistics technologies is ensuring an uninterrupted chain of information along the investment flow and access of stakeholders to the information network of this process.
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