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.
“The solution being delivered to Haiti in the fresh fruit value chain is the blueprint for a number of target markets locally and globally,” a representative from Agriledger told Cointelegraph.
“The approach is to create trade and financial opportunities for farmers but then to all types of producers. The goal is to allow them to retain ownership of their products much longer in the value chain.”
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.
“The customer will have a window into the provenance of the product and it’s journey of quality, and, should the retailer allow, a view of the financial distribution of the individual product and its beneficiaries,” the representative said of the system.
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.
UPDATE March 3, 22:30 UTC: This article has been updated with information Cointelegraph received from Agriledger after initial publication.