India is a huge country in terms of population as well as potential and it is hard to imagine such as a big country without robust local production. However, at the moment, farmers in India get only 25% of the final price of sold goods. However, thanks to increased efficiency through blockchain implementation, they will receive more money.
Importantly, the Sahyadri Farmers Producer Co. expects to use blockchain-based data sharing to improve trust in its pricing as well as sales information, the organization shares with buyers and farmers.
Moreover, blockchain integration will further allow customers to trace products. Consequently, customers will be able to get more information about the individual farmer who produced the product. Customers will use QR codes or digital maps attached to the products to trace products back to the farmer.
Blockchain companies are working in the agricultural industry to increase efficiency. Moreover, farmers will earn more money thanks to such companies.
Blockchain, farmers, and government
As mentioned above, agriculture is very important for the local economy. India has the potential to modernize this sector thanks to new technologies. Interestingly, the country’s one of the largest farm producer organizations decided to use blockchain to increase efficiency and transparency.
Sahyadri Farmers Producer Co. is integrating blockchain into its business process. Notably, this decision is a step forward for the whole sector and not only for this particular organization.
The farm producer organizations (FPO) are member-based organizations that came into existence thanks to a government-led initiative. It is worth mentioning that, such organizations help farmers when it comes to selling agricultural produce at the most advantageous prices.
To sum up, one of the country’s largest farm producer organizations will use blockchain for its supply chains. Consequently, Sahyadri Farmers Producer Co. will be able to increase efficiency and transparency when it comes to the traceability of food products