
Exploring the Blockchain's Green Revolution in Medicinal Plant Supply Chains (Blossoming Trust) – A Review
Abstract
The integration of blockchain technology in the cultivation, farming, conservation, and propagation of medicinal plants and organic farming offers a transformative solution to address key challenges in these industries. This study examines blockchain’s potential to revolutionize these practices by enhancing supply chain traceability, provenance verification, and fair-trade promotion through smart contracts. Utilizing a systematic approach in descriptive analysis, the review investigates blockchain’s role in fostering collaboration, transparency, and innovation, contributing to sustainable and ethical sourcing in medicinal plant supply chains. The methodology relies on secondary data, guided by specific research questions targeting blockchain’s ability to address challenges in traceability, fraud prevention, and environmental sustainability in the medicinal plant sector. These questions align with the study’s objectives, enabling an organized examination of blockchain’s applications and benefits. Data collection involves sourcing from peer-reviewed journals, industry reports, and case studies from databases such as PubMed, IEEE Xplore, and ScienceDirect, focusing on studies published from 2013 to 2023. Inclusion criteria are based on relevance to themes like fraud prevention, transparency, and ecological impact in medicinal plant supply chains, alongside blockchain’s broader implications. Data extraction and analysis identify key themes, including blockchain’s applications, benefits, and barriers to adoption, highlighting its potential to improve traceability, authentication, and eco-friendly practices within medicinal plant transactions. The methodology includes diagrammatic representations illustrating blockchain’s role across each supply chain phase, from sourcing and certification to end-user delivery, to clarify transaction flows and underscore blockchain’s transformative impact. Despite implementation challenges, this study argues that blockchain offers considerable potential for sustainable medicinal plant resource management. By addressing literature gaps regarding blockchain’s impact on biodiversity and ethical sourcing, the review raises awareness and advocates for the technology’s adoption. With innovation and collaboration, stakeholders can unlock blockchain’s full potential, promoting a resilient, ecologically conscious future for global herbal medicine production. In conclusion, blockchain is highlighted as a powerful tool for enhancing transparency, accountability, and regulatory compliance in the medicinal plant industry, fostering responsible resource management and sustainable practices.
DOI: https://doi.org/10.4038/java.v7i2.137 | Journal eISSN: 2659-2339
Language: English
Page range: 35 - 57
Published on: Dec 30, 2024
Published by: Faculty of Animal Science and Export Agriculture, Uva Wellassa University
In partnership with: Paradigm Publishing Services
© 2024 K. M. N. T. K. Bandara, K. G. W. K. Katukurunda, published by Faculty of Animal Science and Export Agriculture, Uva Wellassa University
This work is licensed under the Creative Commons Attribution 4.0 License.