Blockchain Technology Acceptance in Agribusiness Industry

Blockchain technology is gaining popularity and demonstrating its use in numerous cryptocurrencies. Several organizations and other entities want to exploit its transparency and fault tolerance to solve challenges involving multiple untrustworthy players, particularly resource sharing. Different agriculture and food sector applications include farm insurance, purchases of agricultural produce, food supply chain, and digital farming. It enables knowledge traceability within the food supply chain and improves food health. It provides a safe way to store and manage data, simplifying the creation and usage of data-driven technologies for smart farming and agricultural insurance based on smart indexes. The study is attempted to know the acceptance of BCT in companies, based on the technology acceptance model to find out the awareness of Blockchain and the relationship between the components, such as perceived usefulness, intention to use, perceived ease of use, and perceived risk. Results show that one-fifth of the respondents from the surveyed area don’t hear about blockchain technology. The usage of Blockchain and its applications ensures traceability and helps increase the productivity and effectiveness of the job. They also use Blockchain for handling transactions. There is an optimistic association between the components of Blockchain. So, it can be concluded a positive acceptance of blockchain technology.