Blockchain‐based traceability and demand for U.S. beef in China. Issue 1 (28th December 2020)

• Record Type: Journal Article
• Authors: Lin, Wen; Ortega, David L.; Ufer, Danielle; Caputo, Vincenzina; Awokuse, Titus
• Other Names: Mueller Valerie guestEditor.; Offutt Susan guestEditor.; Chen Joyce guestEditor.; Grogan Kelly guestEditor.
• Is Part Of: Applied economic perspectives and policy. Volume 44:Issue 1(2022)
• Page Start: 253
• Page End: 272
• Publication Date: 2020-12-28
• Subjects: blockchain -- Chinese consumers -- country of origin -- traceability -- U.S. beef demand; Agriculture -- Economic aspects -- Periodicals; Agriculture and state -- Periodicals; 338.105
• DOI: 10.1002/aepp.13135
• Languages: English
• ISSNs: 2040-5790

Abstract

Abstract: Amid stringent traceability requirements and a nearly 14‐year ban, the U.S. beef industry is rebuilding its market presence in China. Blockchain technology offers a responsive means of meeting Chinese import traceability requirements while also addressing consumers' food safety concerns. We evaluate Chinese demand for U.S. beef and blockchain‐based traceability and find that a sizeable segment of the market (37%) is willing to pay a premium for U.S. beef that is traceable using blockchains. Results indicate that investments in traceability systems that utilize blockchain technology may be an effective way for producers to capture a significant market share in China.