Indian Farmers Will Employ Blockchain

Endy Callahan

As we all know, the Asian continent is the most populous and one of the most densely populated territories on the planet. China, as well as India, has millions of people and most of them strive to improve their financial situation – the unemployment rate has significantly increased after the pandemic and this has triggered many industries to think of new and more effective ways to help those who are still suffering.

Experts keep on analyzing and studying the current situation across India. Nowadays their major role is to find out what exactly can help people cope with the crisis. Right now, there are thousands of families that rely on the government and ask the local authorities for assistance.

Luckily, specialists continue doing research and offering new solutions. The Indian market is fully prepared to accept the most advanced technologies and let them improve the situation. India has always been known as an agricultural country and, thanks to its climatic zone, it has provided many job opportunities and ways of income to those who are ready to work on the land, cultivate it, and grow food products.

News agencies report that a farmer producer organization widely known across the country is currently planning to employ blockchain. According to representatives, this is a great idea since it will allow thousands of farmers to receive much higher pay.

Progressive Innovation Helps Indian Farmers

Sahyadri Farmers Producer Co is going to become the first organization specializing in farmer producing to integrate blockchain into its processes. Such organizations consist of people who are closely related to farming, although the initiative itself comes from the government. Participants help the country’s farmers trade agricultural produce.

Another great thing about them is that they sell food products at the most advantageous prices. The Hindu Business Line has recently announced that the organization is prepared to employ blockchain. This is necessary to do if farmers wish to increase the efficiency of the supply chains.

At the same time, the new system would add more transparency and farmers could easily trace all processes that food production involves. What the new technology offers is actually a win-win deal for both farmers and customers.

The founders admit that at present, farmers get just twenty-five percent of the final cost of traded produce. However, blockchain implementation will increase their income, and, as a result, they will share approximately fifty percent of their revenue with farmers. Participants will employ data sharing to increase trust and reliability in pricing. They will also provide sales data to buyers as well as sellers.

More than that, blockchain integration will permit clients to trace goods back to the specific farmer who produced them. Buyers will do it utilizing QR codes. The system will attach special digital maps to the produce.

India is not the only country that has arranged to accomplish this project in the nearest future. Blockchain is growing and helps many countries develop their agriculture. They have proved to be highly efficient and let farmers earn better money.

Two months ago the Indian authorities created a P2P marketplace for farmers and customers. The government created a blockchain ecosystem to ensure that food producers across the country receive adequate pay.