Haitian farmers use blockchain to secure better prices
Agriculture & Energy
The blockchain ecosystem helps farmers receive fair prices and provides consumers with trustable and transparent data on product origins
Spotted: UK-based startup Agriledger has created a blockchain system to help Haitian farmers sell their products at fair prices. The system fosters trust on both sides of the transaction, leading to better income for farmers and better goods for consumers.
The startup’s system offers farmers a number of services, and access to global markets and banks. Using blockchain technology, it provides registered farmers with a unique digital identification number, which makes the farmers key players in the supply chain, and gives them access to financial services, logistics, insurance and other services.
The farmers can also tokenize their assets, making peer-to-peer trading easier and giving them further access to the commodities market. This digital system provides the farmers with several benefits; the data is inherently trustworthy, so the entire supply chain is more transparent and traceable, and it also simplifies record keeping, so it is easier for farmers to get loans and access financial services. Finally, the system includes a digital wallet, so farmers can receive payments faster.
Eventually, Agriledger plans to create a Software-as-a-Service (SaaS) enabled marketplace. That would include communications and an order management platform, easing transactions between food suppliers and retailers.
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28th February 2020