Sahyadri Farmers Producer Co, one of the largest companies uniting farmers in India, has started implementing a blockchain to track the supply chains of agricultural products.
As reported by BusinessLine, the Chairman of Sahyadri Vilas Shinde (Vilas Shinde) said that today, only 25% of the final price of goods produced by the company is accounted for by farmers. Sahyadri wants to increase this share to 50% by improving the efficiency and transparency of supply chains.
Shinde said that the idea of implementing blockchain came along with the need to meet specifications, such as ISO and food safety standards for European consumers. The company realized that the use of blockchain increases the trust in data and its reliability for buyers and other interested parties.
Sahyadri wants to take business transparency to a new level. The blockchain-based system will be able to inform each farmer how many of their products were sold, where and at what retail price. This will ensure that products are sold at a fair price. At the same time, the buyer will receive a quality product that can be tracked using a QR code and digital cards.
The technology is being developed by the startup EmerTech Innovations. CEO of the company Gaurav Somwanshi said that on average, about 15,000-20,000 labels are put on products per day. With their help, fruits and vegetables can be tracked by both buyers and farmers, using a blockchain-based system.
Recall that last month, the Producers Market platform announced that it will use the VeChain blockchain to track agricultural products and maintain the export competitiveness of Latin American farmers in the global market.
In addition, at the beginning of the year, ConsenSys announced that It would develop a blockchain platform for agricultural giants, and last year Microsoft registered a blockchain platform for agriculture in Brazil.