Dr. Muhammad Chatib Basri joins HARA as advisor
HARA is pleased to announce the appointment of Dr. Muhammad Chatib Basri on its Board of Advisors. As one of Indonesia’s most respected economists, Dr. Basri has held several high-profile positions during his illustrious career. In the past, he has served as the Minister of Finance of the Republic of Indonesia, as Chairman of the Investment Coordinating Board of the Republic of Indonesia, and as member of the Asia Pacific Regional Advisory Group of the International Monetary Fund (IMF).
Dr. Basri is also well-known in the business sector, having served as an Independent Commissioner for PT Astra International (one of Indonesia’s largest diversified conglomerates), as President Commissioner of PT XL Axiata Tbk (one of the largest Asia telecommunications companies), and was a member of the Asia Pacific Advisory Board to Toyota Motor Corporation.
HARA, the first blockchain for social impact project in Indonesia, is a decentralized data exchange in the food and agriculture sector that addresses the problem of asymmetric information availability, which hinders businesses within the supply chain to be efficient and effective. This lack of information causes a waste of approximately 30% in the global agricultural production, translating to a loss of US$ 940 billion annually (2015 McKinsey Research).
“The development of blockchain and digital technology will undoubtedly help us improve the economy by cutting transaction costs, simplifying long processes or red-tape, and making the process become faster. In the future, the availability of data will also enable the creation of personalized products that can be provided en masse at relatively low prices. This means that products or prices can be adjusted to individual tastes. The HARA blockchain will help farmers in the Indonesian agriculture sector increase their productivity, cut the transaction costs, and increase their income. I’m honored to be part of this adventure as an advisor for HARA.”
— Dr. Muhammad Chatib Basri
Most of the problems in the agriculture and food sector are data related. Farmers in Indonesia have little to no access to agricultural data and market information that could increase their productivity and reduce their losses. Indonesia’s economy is currently ranked as the 16th largest in the world, with 33% of the workforce working in the food and agriculture sector. However, due to various growth impeding challenges, only 13.95% of the country’s GDP comes from that sector, amounting to a total of USD $129.6 billion.
HARA believes that data transparency can solve these problems and that data will become a new commodity in the agricultural sector. The company will help solve the problems by providing access to actionable data-driven insights that support the efforts to improve agricultural productivity and secure solid economic growth for all.
“ Through years of testing across Indonesia, we found that a sustainable ecosystem is only possible if there is an incentive for all stakeholders. We are honored to be directly guided by Dr. Basri in our effort to create the latest breakthrough through blockchain technology that will have a big positive impact on society.”
— Regi Wahyu, CEO of HARA
A rare blend of seasoned scholar and businessman, Dr. Basri’s involvement will bring invaluable expertise in guiding HARA in the development of its economy sustainability, whilst optimizing impact to the data providers, such as smallholder farmers.
As an economic policy expert, Dr. Basri’s advice will undoubtedly be of great help in accomplishing HARA’s mission to empower billions of people around the world. With a team of technology experts and well-known players in the food and agriculture sector, HARA is more than ready to provide its innovative solutions for implementation on global scale.
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