The agriculture sector has remained one of the largest employers worldwide. With such a scale comes the number of multiple levels of complexities in the functioning of the agricultural supply chain industry primarily related to food production, distribution, and retail. Any anomaly in managing the same might result in food epidemics, many of which have been witnessed in the past. The lack of transparency and a deficit of technical advancements of the systems in this domain emerge as challenges in the conception of efficient traceability systems as a solution to this predicament. The systems that are already in use prove to be ineffective in terms of their interoperability or data-sharing capabilities, thus being shielded from any kind of modification or upgrades. This paper discusses the use of both blockchain and Internet of Things (IoT) technologies in the field of agriculture through the use of supply chain management, precision agriculture, traceability systems and the use of distributed ledgers for record-keeping.