Block Commodities, an agriculture-technology company in Africa, wants to help small farms sell their goods on the global market. To do that it is testing Farmer 3.0, a blockchain- and cryptocurrency-based platform.
According to Blockchain News, a pilot project started in Uganda in September with 1,000 smallholder farmers receiving cryptocurrency loans that helped them gain access to finance and credit. This allowed them to purchase fertilizer, seeds and tools.
The pilot also uses blockchain technology integrated with machine learning, predictive behavioral analytics and data-driven marketing to help the farmers.
“With about half of the world’s uncultivated arable land and an income in excess of $700 billion annually, agriculture is Africa’s largest economic sector,” Block Commodities says on its website. “Yet, Africa depends largely on food imports to feed its population. Increases in productivity and production are the way to turn this reality around and ensure food security on the continent.” Read more here.