Agricultural commodities reimagined

: the disruptiveness of blockchain technology

Abstract

Agricultural commodities not only feed the world’s growing population but are also essential for building the economy. This thesis explores the disruptive potential of Blockchain technology in the agricultural commodity industry. It examines industry challenges and analyzes how Blockchain can revolutionize this commodity market. A mixed methods approach, including quantitative and qualitative data gathering, provided insights into industry perspectives and readiness for Blockchain technology adoption. The findings showed very low adoption levels due to persistent doubts about the technology and lack of overall readiness. Despite recognizing potential benefits, experts identified numerous barriers such as technological immaturity or unclear regulatory environments. Nonetheless, experts confirmed its potential for transforming post-trading, risk management and trade finance processes. Finally, although Blockchain technology has transformative potential, it is unlikely that it will be a short-term disruptor in the agricultural commodity industry. Instead, it more likely will take the role of being more of a sustaining innovation with early majority or late majority adopters.

Date of Award	31 Jan 2024
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Peter V. Rajsingh (Supervisor)