Smart Contracts and Decentralized Marketplaces in Agriculture

Disruptive technologies, including smart contracts, serve as automated, enforceable agreements. Decentralized marketplaces serve as self-executing platforms for transactions. Both innovations are transforming global agriculture and are widely regarded as promising tools for development. Blockchain-based solutions improve efficiency, transparency, and trust among stakeholders within agricultural supply chains. The adoption of digital technologies has accelerated in recent years due to their diverse benefits, including real-time trading, Internet of Things (IoT)-enabled logistics, subsidy disbursements, and insurance claims in agriculture. However, significant challenges persist, particularly for smallholders. These challenges include limited digital literacy, interoperability across platforms, scalability issues, and legal complexities. This chapter presents potential strategies, including capacity building, improving digital literacy, fostering public–private partnerships, and increasing investment in research. These approaches aim to enhance stakeholder engagement throughout the value chain. Coordinated efforts by multiple stakeholders, with government support, are essential to build and strengthen the digital ecosystem in agriculture. Such initiatives can align the sector with global objectives for inclusive growth and sustainable development.