Leveraging Artificial Intelligence and Blockchain to Stabilize Rice Price Fluctuations in DKI Jakarta, Indonesia

Rice price fluctuations have become a persistent issue in Indonesia, impacting the public and food security in DKI Jakarta. This study finds that the rising rice prices are disproportionate to the milled rice output, creating a market imbalance that disadvantages small-scale farmers relative to more giant aggregators in an oligopolistic market structure. This imbalance threatens food security by affecting rice availability. A literature review reveals the potential of Artificial Intelligence (AI) and blockchain technologies to address these challenges, primarily by enhancing transaction security. This research aims to assess the potential application of AI and blockchain in stabilizing rice prices in DKI Jakarta. AI can predict rice prices based on historical pricing, weather, production, and economic data. At the same time, blockchain can track rice movement from farmers to consumers, improving transparency, traceability, and trust among stakeholders. Integrating AI and blockchain can aid the government and other stakeholders in formulating policies and interventions to curb price volatility, enhance market transparency, prevent price manipulation, and foster a fairer rice market for farmers and consumers. Prior research in precision agriculture further supports this approach, highlighting its role in ensuring crop yield certainty. This study is essential for providing sustainable recommendations on using AI and blockchain to mitigate rice price fluctuations in DKI Jakarta.