KHETHINEXT — an agritech startup accelerates produce traceability with the Eleven01 Protocol
Digital agriculture transformation for farmers to reduce cultivation costs, facilitate marketing and provide access to capital — all through one dApp.
KHETHINEXT, one of the dApps built on the Eleven01 Protocol, has recently shared their update with us and we couldn’t be more excited.
The team on-boarded 100k+ farmers on KHETHINEXT to help improve their productivity, efficiency and delivery margins.
By enabling transactions that take place in the farm-to-fork supply chain, including crop certifications, connections with potential retailers, and with the direct delivery of goods to organizations (without a middleman) — the farming community has received a pump in terms of not only growth but, also financial stability.
When the gross value added by farming service is evaluated, it stands at 18.5 trillion INR (US$ 271 billion). The Indian agriculture industry has several development opportunities given its size and scale. By increasing its commitment to the World Food Trade each year and with its enormous potential for expansion, the Indian sustenance and agriculture market stands to be the world’s sixth-biggest, with small farmers contributing 70% of the deals.
That said, it’s important to note that agriculture employs 50% of the Indian workforce, with a population of 1.1 billion — this number is larger than the entire population of many countries.
The Problem Statement
Right from sowing the seed to harvesting the crops, farmers face multiple issues with respect to finance, pesticides, climate change and negligible support from agriculture experts. Indian farmers need assistance with rural coordinations. Additionally, they have constrained access to granary retailers/wholesalers and they depend on third-party traders for the conveyance of their homestead production which is sold below the market value. Plus, at all turns, the authentication of organic farming is questioned and due to lack of proof, farmers are usually manipulated into selling their products for cheaper. In the presence of these issues, the farmers need a conduit to bridge these gaps; enter KHETHINEXT.
The Solution
The go-to solution for all of these problems burgeons in the KHETHINEXT dApp as a one-stop solution for Indian farmers. The dApp links farmers to experts of the domain who advise farmers on improved practices, low-cost farm inputs, and other techniques. KHETHINEXT connects local farmers to granary stores and cuts out all middleman and consequently reduces costs. Additionally, it enhances the relationship between farmers and buyers by providing transparency in pricing and profit-sharing opportunities after successful profitable transactions.
The dApp also tracks the quality and growth of the farming production on a blockchain which states its immutability and gives out accurate information on the production.
The development team at KHETHINEXT has built its product in the most intuitive way possible. Here are a few slides that indicate the seamlessness of the KHETHINEXT dApp!
The farmer can enter his/her login credentials with the registered number and validated PIN. Following this step, the dApp opens up to the menu screen.
The user can select one of the actions relevant to them and work accordingly. The produce loading screens are accompanied by a geotagging feature to help enhance traceability.
After fulfilling the placed order, the user gets an option to upload the bill for future reference.
On confirming the placement of the order and uploading the bills, the user gains visibility into the timeline of the order as it passes through various stages of its journey.
At any point, the user can scan the QR code of the dispatched order and check its status managed on the Eleven01 blockchain in real-time.
All the details of the transactions processed is stored on the Eleven01 blockchain which makes it easy to be tracked via QR codes or by checking the data on the Eleven01 Block Explorer.
Blockchain and farming
From rancher to maker to merchant, blockchain combined with IoT is redesigning the agriculture industry. Blockchain technology provides a means to efficiently track and monitor cultivation activities and consequently improves the asset standards, utilizing a rearranged methodology.
Blockchain has two features that help in this case — immutability of data and decentralization. If a centralized entity is handling all the data, they can cheat and change data based on their own needs. Khetinext is a platform for farmers, suppliers and end customers to come and collaborate. Within this system where multi-party collaboration is needed, it is disadvantageous for the community to put all trust in a central entity. Blockchain’s decentralized nature solves this problem perfectly where all parties can collaborate and create and manage a chain among themselves. Blockchain also provides immutability of data which ensures that neither anyone in-network nor a hacker can change the data logged in the chain. This enables trust in the tracking data. KHETHINEXT’s dApp built on the Eleven01 Protocol will enable a productive and secure ecosystem for farmers to build their livelihoods.
Blockchain will disrupt businesses.
The biggest advantage lies in the hands of early adopters; in this case, the people who have the capacity to trace the nourishment of crops from the sow to the reap, ensuring that the produce is paid rightly for its worth.
What’s more is that Indian farmers can now monitor farming operations and record significant information in a solitary, permanent ledger. All things considered, blockchain innovation is a definitive answer to the difficulties confronting current farming, and our collaboration with KHETHINEXT will enable the creation of these solutions.
