ICRISAT, in partnership with Eleven01 – India’s native blockchain platform and KHETHINEXT – a mobile-based agricultural solutions provider, is aiming to deploy blockchain technology in agriculture to increase productivity.
KHETHINEXT, an incubatee of ICRISAT’s innovation hub, is developing a decentralized application that will provide farmers with mobile-based expert advisory services, ground support for logistics and blockchain-based clarity into financial transactions, supply chain monitoring and more. This will empower smallholder farmers with information regarding farm inputs, produce demand/supply, market rates, etc., eliminating intermediaries and enabling the farmers with better decision-making powers.
“Over the past few years, ICRISAT has been working to bring digital technology to farmers in a number of ways (e.g. Kalgudi, Verdentum, etc.). Now, with blockchain protocol, we have a whole new area of opportunity to be harnessed for the benefit of the marginal farmers,” says Dr Anthony Whitbread, Research Program Director – Innovation Systems for the Drylands, ICRISAT.
Ramkiran Dhulipala, Theme Leader of Digital Agriculture and Youth, and leader of the ihub, ICRISAT said, “Using blockchain technology, we can create transparency across the entire cycle of agricultural events.”
“This is a major step to provide traceability of agriculture produce on Blockchain, making it visible to potential buyers for high price realization. Our consolidated efforts will help farmers increase profitability and improve livelihoods,” said Phanidhar Palakoti, Founder and CEO, KHETHINEXT.
Ausaf Ahmad, CEO, Eleven01 said, “Our efforts will lead us to a transparent and a more reliable solution for agricultural issues with regards to funds, supply chain, post-harvest equity, and land holding.”
Considering this as just the first step, ICRISAT further aims to create an ecosystem to support agri-tech startups, by helping them network with enterprises, technology leaders, government institutions and non-profits.