A UK tech company recently announced a blockchain ecosystem for farmers in Haiti, bringing clarity to the supply chain while bolstering sales.
Agriledger, a blockchain outfit based in the UK, was responsible for building this new ecosystem. Their goal was ensuring that farmers receive adequate pay for their crops, a Feb. 28 post from Spring Wise stated.
Each farmer is a part of the system
Agriledger’s blockchain-based solution assigns farmers enrolled in the system with a digital ID number. With this ID, farmers become part of the digital supply chain.
Agriledger additionally allows these Haitian farmers to tokenize their products, granting them greater access to peer-to-peer dealings.
Blockchain keeps the data honest
Agriledger’s blockchain underpinnings have allowed for a far more transparent solution than what has previously existed in the region. Parties can now trust the validity of data they interact with, which smooths the process of acquiring loans and other financial services for the participating farmers.
The ecosystem also touts digital wallets and payments, bolstering the additional benefits of convenience and speed.
Looking toward the future, Agriledger aims to build a software-as-a-service (SaaS) platform in which suppliers and retailers can interact.
Supply chain management continues to grow as a hot use case for Blockchain technology. Just a few weeks ago, Avril Group, an agro-industrial partnership specializing in nutrition, started using IBM’s Food Trust blockchain network for its supply chain.