Blockchain Firm Cooperates with Indian Government to Improve Farmer’s Conditions
Agriculture technology startup Agri10x is planning to sufficiently connect Indian small-scale farmers to global buyers by using blockchain to cut out the middleman.
The partnership provides Agri10x access to the government’s national common service centers (CSCs), which would enable rural and remote farming communities to register on the company’s blockchain platform through what the projects call village-level entrepreneurs (VLEs).
Agri10x hopes its business model will help small farmers connect to more buyers without the need to squeeze profit margins from engaging in the middleman process.
Another potential benefit is that farmers would receive timely payment in full through the use of smart contracts, as third parties causing delays in the process would be eliminated. Blockchain technology can also assist in collecting real-time data to manage harvests effectively.
The notion of bringing a blockchain boost to small-scale agriculture such as coffee production has been around for quite some time. U.S. lawmakers have also been considering the use of blockchain in agriculture for monitoring farm products.