FarmTrek is now LIVE!
In keeping with the roadmap laid out in the Whitepaper, InfoCorp Technologies has reached another key milestone in its history with the FarmTrek application available in Google Play Store from 28 December 2018. The initial version of FarmTrek will only be limited and accessible by pre-registered livestock owners in Myanmar. We will work hard to aim for the launch of Sentinel Chain for Q1 2019 in line with the road map.
FarmTrek, developed by InfoCorp Technologies, is the world’s first solution for livestock-backed insurance and financing using private, permission-based blockchain to tag and track livestock ownership.
The solution is designed as an in-country network for companies and government agencies involved in livestock-related activities, and livestock owners. FarmTrek reduces fraud by maximising data integrity from end-to-end, for the primary aim of solving unbanked farmers’ asset ownership problem. Through the use of physical tamper-proof tracking device, attestation process and digitally immutable data storage, our solution addresses issues of:
• Identity fraud.
• Asset ownership fraud.
• Data security risk.
• Credit assessment risk.
• Livestock insurance moral hazard.
• Livestock tracking and traceability.
While FarmTrek is designed for in-country purpose only, Sentinel Chain is designed as a cross-border marketplace for livestock-backed financial services. Together, both solutions create a hub-and-spoke model in addressing the global financial inclusion problem. The success of Sentinel Chain will depend on the ability of deploying FarmTrek network into more markets in the future. The team has worked hard in engaging new markets and we shall be providing more updates in 2019.
InfoCorp Technologies Pte. Ltd. Founded in 2015 with headquarters in Singapore, InfoCorp Technologies’ aim as an integrated FinTech and AgriTech company is to bring inclusive financial services to the livestock industry in emerging markets via its blockchain-based platform, FarmTrek. Bringing together best talent across the globe, InfoCorp has staff in Rwanda, Myanmar, India, Vietnam, Argentina, and the US. FarmTrek was successfully piloted with two Myanmar government agencies and launched in 2019. Its innovation has been acknowledged as one of 10 winning business models for women entrepreneurs, co-funded by the United Nations to improve access to finance for Women micro, small and medium enterprises (MSMEs) via the UN FinTech Innovation Fund.
Website (InfoCorp): https://infocorp.io