One of the largest organizations of farmers-producers of India is planning to use the blockchain to help farmers to earn more as well.
One of the largest producer organisations farmers (FPO), Sahyadri Farmers Producer Co, integrates the blockchain in your business process, reports Cointelegraph.
FPO is a government membership organisation of farmers. The organization helps farmers to sell agricultural products at the best prices.
Local news portal the Hindu Business Line reported that Sahyadri will use the blockchain for their supply chains to improve efficiency and transparency in traceability of food products.
A win-win for customers and farmers
The founder of Sahyadri, Cindy Vivek (Vivek Shinde), stated that usually the farmers only receive 25% of the final price of goods sold. However, increasing efficiency through blockchain implementation, they can double the revenue, receiving a 50% off sale.
The organization expects to use the blockchain data exchange to improve the credibility of information on prices and sales, these data will be available on the blockchain for farmers and buyers.
Blockchain integration will further allow customers to track the products from the individual farmer who produced it. Customers will be able to do this using QR codes or digital maps, added to the goods.
Blockchain in agriculture is increasing worldwide
A growing number of blockchain-companies now working in the field of agriculture to increase efficiency and to help farmers to increase income. In may, the blockchain-agtech startup, agreed with the government of India for the creation of a market for farmers and buyers.
As reported by the website Сoinews, the main Indian cryptocurrency exchange Unocoin and WazirX restored Fiat deposits placement less than a day after the Supreme court lifted restrictions on banking services for cryptomery in the country.
Coinews wrote that three months after the Supreme court decision on the abolition of banking service ban on cryptocurrency, the Ministry of Finance of India has again proposed a ban on the cryptocurrency already at the legislative level.
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