Application of Blockchain and Internet of Things (IoT) in the Food and Beverage Industry

The blockchain with IoT technology aids organizations in achieving authenticity across peer-to-peer nodes, including keeping evidence of work, cutting out mediators, traceability, and so on. Increased input expenses and supply chain mechanisms that prevent direct connections between producers and consumers of the food and beverage industry have an impact on data gathering, safety, and exchange. Because of the lack of centralized IoT infrastructure, restrictions on data protection, tampering, and single-point breakdown are not met. The study suggests an IoT paradigm built on blockchain to overcome these problems. Additionally, this work demonstrates novel energy savings. This paper suggests a smart model framework for multiple IoT systems that observe crop growth and the agricultural surroundings and offer an open, decentralized blockchain monitoring system. At many stages of the supply chain management (SCM) procedures, it can be used in blockchain. All activities in decentralized supply systems were managed by smart agreements. Every 500 m2 cluster farm received a sum of 100 IoT units randomly. Nodes from the IoTs were utilized to measure data on food and beverage production. The suggested frameworks' duration of network stability and network lifespan show 90.4% accuracy. This study also collects secondary data from executives in the food and beverage sectors throughout India with an understanding of blockchain with IoT and SCM processes. The supply chain operations such as purchasing, pre-processing, transportation, warehouse, retail, management of inventory, distribution, and marketing operations were taken into consideration when analyzing. The blockchain and IoT offered the biggest benefits, namely cost savings, traceability, time savings, immutability, validation, and work proof, relying on the analysis of data.