Agriculture is very important for the Indian economy. The world’s second-most populous country has the potential to modernize this sector thanks to new technologies. Hopefully, India’s one of the largest farm producer organizations decided to use blockchain to make life easier for farmers.
Sahyadri Farmers Producer Co. is integrating into its business process and this decision is a step forward not only for this organization but for the whole sector in general.
People should take into account that farm producer organizations (FPO) are member-based organizations that come to an existence thanks to the government. The purpose of such organizations to help farmers when it comes to selling agricultural produce at the most advantageous prices.
Interestingly, India’s one of the farm producer organizations will use blockchain for its supply chains. As a result, the organization will be able to increase efficiency as well as transparency in the traceability of food products.
Indian farmers and blockchain
Currently, farmers in India get only 25% of the final price of sold goods. Nevertheless, thanks to increased efficiency through blockchain implementation, they can share as much as 50% of their revenue with farmers.
Importantly, the organization expects to use blockchain-based data sharing to improve trust in its pricing as well as sales information. As a result, the FPO will share this information with farmers and buyers.
This is not the end of the story as blockchain integration will further allow customers to trace products. As a result, customers will be able to learn more about the individual farmer who produced this product.
Interestingly, it is quite simple to learn more about farmers. Customers will use QR codes or digital maps attached to the products.
Notably, more and more blockchain companies are working in the agricultural industry. As a result, farmers as well as customers will benefit from such projects.