Eleven01 Joins Hands with KHETHINEXT to Bring Blockchain into Enrich the Lives of Farmers
The two platforms will work in partnership to employ the benefits of the blockchain technology in India’s agricultural sector and enrich the lives of farmers.
Eleven01, the largest blockchain protocol project out of India, has partnered with KHETHINEXT to build their dApp on the testnet platform. The Eleven01 platform will provide technical support to KHETHINEXT to develop a blockchain-based application that will enable farmers to improve their productivity. KHETHINEXT is an agritech platform that is working to achieve digital transformation in the agriculture sector.
As of 2018, the agricultural sector contributes over 17% of the $2.7 trillion GDP of India and employs over 50% of the total Indian workforce. KHETHINEXT aims to use the blockchain technology to create an end-to-end supply chain to track the provenance of farm produce for over 200k farmers. By building a decentralised application on the Eleven01 protocol, KHETHINEXT aims to provide farmers with the opportunity to value their farm produce, trace its movement, and monitor the qualitative and quantitative aspects as it moves through farms to end customers.
Eleven01 will provide KHETHINEXT access to the blockchain technology along with extensive technical support that the organisation may need to build the dApp. “KHETHINEXT is attempting to help over 450,000 Indian farmers make a better living via their platform. Their idea for a dApp that lets farmers take control of their produce is ambitious and cutting-edge. The Eleven01 team believes in the potential of the blockchain technology and is therefore delighted to offer support to KHETHINEXT in their endeavour.”, said Rama Iyer, President & CTO of Eleven01.
The dApp that KHETHINEXT will build on the Eleven01 platform will put farmers directly in touch with potential retailers, financial institutions and farm produce organisations (FPOs) and thus eliminating the dependency on intermediaries.
“In an agrarian economy such as India, many farmers still struggle to make a living. The agricultural sector needs our attention with 52% of the population relying heavily on it. Our aim at KHETHINEXT is to use cutting-edge technology to provide a workable solution for farmers and related stakeholders. Blockchain is a transformative technology and it can bring greater transparency and efficiency in the agriculture sector. We are excited to partner with Eleven01 to adopt blockchain technology and continue to create an impact on the lives of farmers.”, said Phanidhar Palakoti, Founder & CEO, KHETHINEXT.
