The blockchain technology is constantly growing. Recently, a United Kingdom-based company unveiled a blockchain ecosystem for the farmers in Haiti. This move has brought clarity to the supply chain while simultaneously bolstering sales.
Agriledger, a blockchain startup, was responsible for the creation of this new ecosystem. Their primary goal was to ensure that the farmers get enough pay for their crops, as explained in a February 28 post from Spring Wise.
Every farmer is a part of the network
Agriledger’s blockchain-based solution is well-designed to assign all the farmers enrolled in the system with a digital ID number. With that number, the farmers become a part of the digital supply chain.
Furthermore, Agriledger enables the Haitian farmers to tokenize their products, which provide them with greater access to the peer-to-peer dealings.
Blockchain maintains honest data
Agriledger’s blockchain underpinnings have enabled and offered support for a highly transparent solution than what previously existed in this region. Notably, parties can trust the validity of data that they interact with, resulting in smooth processes of acquiring loans and many other financial services for the participating farmers.
This ecosystem also flaunts digital payments and wallets, which enhances the extra benefits of speed and convenience. Looking at the future, Agriledger may strive to build a software-as-a-service (SaaS) platform enabling suppliers and retailers to interact freely.
The supply chain management industry continues to thrive as a hot use case for Blockchain technology. A few weeks ago, Avril Group, which is an agro-industrial partnership specializing in nutrition, begun using IBM’s Food Trust blockchain network to operate its supply chain.