THE KEY FACTORS FOR THE SUCCESS OF UTILIZING BLOCKCHAIN AND INDUSTRY 4.0 IN AGRICULTURAL COMMERCIAL FIRMS

Abstract

Today, innovative technologies are extensively developed worldwide. Moreover, large industries are always attempting to be able to use the capacity of this new technology to build and advance their business. However, agriculture is one of the less explored industries that Blockchain holds the potential to revolutionize. The most well-known application of Blockchain is in the form of cryptocurrencies. However, this technology can significantly increase productivity in many sectors and industries. Blockchain is an incredibly powerful, secure, reliable, and anti-forgery database technology for data storage that is impossible to change once a transaction is finalized. Therefore, Blockchain technology in the food industry's supply chain, both now and shortly, is an undeniable necessity. Identifying its success factors is one of the most significant requirements for any technology. Therefore, this paper aims to recognize the success of Blockchain and Industry 4.0 in the food industry. Accordingly, firstly, the most significant obstacles were identified, and subsequently, multi-criteria decision-making was performed by the SECA method. However, the ideal sub-factors were ranked based on the weights, including reducing environmental effects and increasing production efficiency in the ecological sustainability improvement index. Based on the importance of the decision options, DEMETER firm prioritizes the successful application of Blockchain in the food industry.

Keywords: Blockchain, Industry 4.0, Agricultural, Commercial Firms,SECA