Intelligent Blockchain: Use of Blockchain and Machine Learning Algorithm for Smart Contract and Smart Bidding

With the growth of population, there is an increase in demand in food, as well as growth in agribusiness and hence, an increase in contract farming. Contract farming provides the farmers with the benefits such as enhanced agricultural production and a rise in incomes of contract farmers, giving them an exposure to services and resources inculcated with opportunities to participate in markets. However, time and again contract farming is criticised for the uneven bargaining power that may lead to the exploitation of farmers by contractors or large agribusiness firms. The presence of middlemen or brokers in the supply chain further coerces the farmers to rely on them to sell their products. Again, there is another issue of differentiating among bids. So, the solution for all these problems lies in “BidBlock”, a bidding integrated e-commerce platform, having built over blockchain and machine learning. Blockchain, with smart contracts, helps in restoring the trust of the farmers with its decentralization and machine learning, by interpreting and simplifying bids, helps them gaining maximum profit. Results show that most buyers prefer to have deals directly with the farmers and with a ease of doing business (like easy contract and payment). The addition of delivery services will be better too, but in this paper, it provides emphasis on how to simplify bidding with smart contracts, both for farmers and farms. Hence, introduction to BidBlock.