Revolutionizing Thailand’s Agricultural Sector: The Transformative Potential of Blockchain Technology in Digital Economy Supportive Policy
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Abstract
Blockchain technology is a data storage system that involves a distributed database, which is a modern technology that has garnered widespread interest and study both locally and internationally. Currently, blockchain technology has revolutionized the world of business, finance, and banking, as well as government agencies in different countries, which have elevated their management to become digital governments that align with the digital economy. This can help to facilitate and improve the lives of citizens by making services more convenient, trustworthy, transparent, and verifiable, as well as reducing the steps involved in coordinating government activities. The purpose of this article is to study the principles of blockchain technology and smart contracts, as well as to propose recommendations for their application to solve the problems of government management in the agricultural sector in Thailand, to ensure smooth and efficient operations. Blockchain technology is a new technology that has garnered interest and study both locally and internationally, and has been revolutionary in the business sector, particularly in finance and banking. Many countries have upgraded their government management systems in response to the digital technology that is expanding in all sectors of the economy, which is crucial to the running of government operations and management. In addition, it can support and assist in providing convenience for citizens to access government services quickly, efficiently, transparently, and verifiably. This study has four main points: 1) top-down decision-making, 2) income stability, 3) unintended outcomes, and 4) the motivation of politicians and government officials. The results of this study show that supporting Thailand's digital economy in the agricultural sector can be achieved through the use of blockchain technology in data management, smart contracts to influence production factors, supporting and providing various benefits to farmers, and even implementing e-voting and allocating benefits to community-related activities. This can help to collect data from these activities to use for policy development and review.
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References
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