The Application of Blockchain in Value Chain Finance for Agro-Food Chain: A Literature Review and Future Research Agenda
DOI:
https://doi.org/10.32890/jtom2026.21.2.3Keywords:
Blockchain, value chain finance, backward-forward snowball approachAbstract
This study aims to investigate the application of blockchain technology within the agro-food chain and to compare conventional value chain models with blockchain-enabled value chain frameworks. To achieve this objective, the study adopts a gray literature review approach and employs a backward–forward snowballing technique to identify and extract relevant literature. The study contributes by; 1. the characteristics, benefits, and challenges related to three forms of value chain financing (chain liquidity, involvement of value chain stakeholders, and short-term loans), 2. a visual representation of the incorporation of blockchain into the collaborative value chain design inside value chain financing, 3. it offers a comparative analysis of conventional and blockchain-based value chain financing frameworks together with the influence on the cash conversion cycle. Finally, this study inferred that the inventory holding period is a crucial factor affecting chain-level efficiency within the value chain financing framework. It also proposes the analysis of a feasible blockchain-based financial derivative in the agro-food sector employing a dynamic or stochastic model. However, the conceptual framework and disclosure related to blockchain technology lack empirical assessment, particularly concerning financial risk, cost, and viability, presenting a significant opportunity for future research.
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