Abstract: Blockchain has a revolutionary mechanism that will change the social-economic formation. This paper discusses the design philosophy and developing process of blockchain, and introduces the concept of token economy, then proposes the application scenario of blockchain in agriculture under current situation in China. By analyzing the prospect of combination of blockchain with agricultural internet of things and produce traceability, the authors point out that the application should innovate in economic mode to effectively encourage participants of all sectors in agriculture under the token economy perspective, rather than just upgrade the agricultural information technology from the technical perspective.