India’s Huge Farmer Organization Plans To Use Blockchain

News • 2020/07/07 • by Remitano

Sahyadri Farmers Producer Co, which is known to be one of the huge farmer organizations in India, has stated that they would start utilizing the blockchain to help them track supply chains. Sahyadri stated that it’s important to utilize the blockchain to maximize efficiency as well as to expose transparency in food traceability.

The utilization of blockchain technology is expected to benefit both customers and farmers. Using traditional methods to track everything, the farmers currently only receive one-fourth of the shares for every sold item but when they utilize the blockchain, the shares could be improved to as much as 50%. That is a huge improvement.

And with the record that is powered by the blockchain, Sahyadri hopes that there will be more trust and transparency between the farmers and the buyers. With the utilization of the blockchain tech, the buyers can just trace the items all the way back to the first hand that create the items in the first place.

The idea is to use QR codes just like how VeChain and other blockchain-based supply chain optimizations do it. Previously, companies like VeChain and Fantom have successfully lured various companies and government entities all around the world to start trial using their blockchain technologies.