Indian Farmers Will Use Blockchain for Supply Chains

Source: https://medium.com/buytex-exchange/indian-farmers-will-use-blockchain-for-supply-chains-1ae4eb6900d1

One of India’s largest farm producer organizations (FPO), Sahyadri Farmers Producer Co, is integrating blockchain into its business process for its supply chains to increase efficiency and transparency in the traceability of food products.

The founder of Sahyadri, Vivek Shinde, said that in the present scenario, farmers get only 25% of the final price of sold goods.

However, with increased efficiency through blockchain implementation, they can share as much as 50% of their revenue with farmers.

The organization expects to use blockchain-based data sharing to improve trust in its pricing and sales information that it shares with farmers and buyers.

Blockchain integration will further allow customers to trace products back to the individual farmer who produced it. Customers will be able to do so using QR codes or digital maps attached to the products.

It is a worldwide tendence — an increasing number of blockchain companies are now working in the agriculture industry to increase efficiency and help farmers earn better revenue.