Research on the Role of Blockchain in the Symbiotic System of"Three Cooperatives"
Forming a stable symbiotic system within the traditional"three cooperatives"model has historically proven challenging,pri-marily due to the inherent lending risks associated with credit cooperatives and the counterparty risks existing between professional co-operatives and supply and marketing cooperatives.Blockchain technology addresses these two risks by reducing information asymmetry and establishing risk-handling mechanisms to ensure the execution of contracts.To determine how blockchain creates value for the"three cooperatives"symbiosis by reducing the two risks,this paper constructs a"three cooperatives"symbiosis system model with or without blockchain and compares the balanced results with or without blockchain.The study found that the use of blockchain can pro-mote the increase of agricultural product output and profit in the symbiosis system of"three cooperatives".Under the information trans-parency sharing mechanism,the lending behavior of credit cooperatives and the production behavior of professional cooperatives form a closed-loop containment mechanism,so that agricultural production is closer to market demand.The construction of a risk-handling mechanism through the blockchain will promote"three cooperatives"to respond to risks jointly and minimize risk losses.Supply and marketing cooperatives can always benefit from blockchain technology,while professional cooperatives can benefit from it in most cases,depending on the stability of market demand.Therefore,blockchain technology should be prioritized in regions where market stability is poor and natural risks in agriculture occur frequently.
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