The Application of Distributed Ledger Technology in Agribusiness

Abstract

This paper is about the simulation analysis of the dynamics of an agribusiness enterprise under the assessment and improvement of Distributed Ledger Technology (DLT). In recent years, the company has been under pressure from the industry to provide more data on the traceability of its entire supply chain system and raw materials. However, the existing food traceability system is often faced with many challenging problems and difficulties under technical limitations, such as different regulations and restrictive policies, lack of standardized data management system; and complicated product tracing is often accompanied by human error, classification difficulty, tracing speed, and low efficiency. By analyzing the successful application paths of DLT in two well-known agricultural enterprises, this paper qualitatively and quantitatively evaluates the utilization of DLT. Using the logistic regression equation, it is proposed that the company check the factor variables in the real environment through the hypothetical pilot project to popularize DLT application. The study verifies that DLT can help agribusiness improve the traceability performance of raw materials and the entire supply chain and provides empirical evidence for the transparency and traceability of supply chain information in the industry. At the end of the paper, to further explore the reverso context of cases on DLT.