Blockchain technology has taken the world by storm since its inception in 2009. It is a distributed ledger technology that allows transactions to be recorded securely and transparently across multiple computers. Its ability to cut out intermediaries, provide transparency, and enhance trust has made it a disruptive force in various industries. One such industry that can benefit significantly from blockchain is agriculture.
The agricultural industry is one of the oldest and most important industries in the world. It plays a vital role in providing food to the ever-growing global population. However, the industry is faced with numerous challenges such as lack of transparency, inefficient supply chains, and the prevalence of intermediaries that increase the cost of food production. These challenges have a significant impact on the farmers’ income and the quality of food that reaches consumers. Blockchain technology can address these challenges by providing a decentralized platform for transactions, enabling transparent supply chains and reducing intermediaries.
Several blockchain startups have emerged to address these challenges in the agricultural industry. In this article, we will discuss eight blockchain startups transforming the agricultural industry.
- AgriChain AgriChain is a blockchain company that focuses on enabling peer-to-peer agricultural transactions and processing while cutting out the middlemen. The platform is designed to provide transparency in the supply chain and allow farmers to directly sell their produce to consumers. It also allows farmers to access financing through the platform.
- AgriDigital :AgriDigital is a blockchain-based and integrated commodity management solution for the global grains industry. The platform helps to process complex agricultural transactions through smart contracts. It provides a transparent supply chain, enabling farmers to track their produce from the farm to the consumer.
- AgriLedger: AgriLedger is a UK social enterprise project supporting farmers in tracing food origins, getting easier access to financing, and storing transactions data. The platform is designed to provide transparency in the supply chain, enabling farmers to trace the origin of their produce and receive a fair price for their products.
- Demeter: Demeter is a central hub to rent and farm micro fields anywhere in the world – with no middlemen, complexity, or the overhead of a big organization. The platform allows farmers to rent micro fields and manage their farms efficiently without the need for intermediaries.
- Etherisc: Etherisc is a blockchain startup offering crop insurance to farmers via its decentralized insurance applications. The platform uses smart contracts to automate the insurance process and reduce the cost of insurance for farmers.
- Ripe:Ripe is a startup that designs a transparent digital food supply chain. The platform harnesses quality food data to create the Blockchain of Food, mapping the food journey. It enables farmers to sell their produce directly to consumers, reducing intermediaries and ensuring transparency in the supply chain.
- TE-FOOD: TE-FOOD: applies identification tools to livestock, transports, and fresh food packages to follow the items throughout the whole supply chain. The platform enables farmers to track their produce from the farm to the consumer, ensuring transparency in the supply chain and reducing intermediaries.
- Worldcovr :Worldcovr provides crop insurance to protect against loss of yield using satellites to monitor the rainfall and trigger payouts automatically. The platform uses smart contracts to automate the insurance process and reduce the cost of insurance for farmers.
