Easy Mandi - An Agricultural Production Trading Platform for Indian Markets

Abstract

A large majority of people in India are employed in agriculture. To protect their interests, the government of India has implemented laws that restrict the trade of agricultural produce to only regulated marketplaces. These marketplaces are inefficient and need to be replaced with a less bureaucratic yet equally reliable system. This paper proposed a blockchain-based agricultural produce trading platform named 'EasyMandi' to alleviate the problems in Indian agricultural markets. Using smart contracts on the Ethereum blockchain network, the agriculture product can be auctioned, and the highest bidder wins the product while the contract stores funds that automatically get transferred to the farmer upon delivery. The proposed EasyMandi platform tries to remove the concept of middlemen and the related inefficiencies in the previous marketing system and facilitate farmers to get better prices while being shielded from any risks of fraud or harassment. © 2022 IEEE.