Blockchain-based E-commerce Site for Direct Subsidy Disbursement

Journal: GRENZE International Journal of Engineering and Technology
Authors: Sanjeev. S. Sannakki, Asharani A. Patil, V. S. Rajpurohit, Prashant Y. Niranjan, G. R.Deshpande
Volume: 10 Issue: 1
Grenze ID: 01.GIJET.10.1.519_1 Pages: 1515-1520

Abstract

India's prominence in the global agricultural sector cannot be overstated, with agriculture accounting for the main source of income for over 55% of the country's population. Karnataka, with its majority rural population, is no exception. Millions of workers depend on agriculture for their livelihoods, and the Indian government has been actively involved in efforts to improve the delivery of subsidies to those who deserve them. While the direct benefit transfer program has been helpful, it still faces certain drawbacks or challenges, such as a lack of auditability and control over the use of funds. However, the solution to this issue lies in the disruptive technology blockchain. With its immense potential to transform data processing, transmission, storage, and security, a blockchain-based system presents the ideal solution for automating subsidy disbursements, bypassing the necessity for banks in rural regions, and establishing an auditable and transparent ecosystem that effectively combats corruption and financial mismanagement. This smart blockchain system will undoubtedly transform the agricultural sector in India and ensure that deserving beneficiaries receive the subsidies they need

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