2 November 2024
Dubai Blockchain platform Will Connect Indian Farmers To UAE
The United Arab Emirates food industry officials may soon bring a blockchain-based supply chain to obtain agricultural products directly from India.
As per the report, United Arab Emirates (UAE) officials will use Agriota E-Marketplace, a new platform that uses blockchain technology to fill the gap between farmers in India and the nation’s food industry. Through Agriota there will be transparency with the food supply chain from Indian farms to food processing companies, traders, and wholesalers in the UAE.
The Indian farmers can directly connect with food industry firms in the UAE to provide cereal, seeds, fruits, vegetables, spices, and condiments. According to the data by the country’s Agricultural and Processed Food Products Export Development Authority, India exported more than $1 billion of food products to the UAE in 2019.
Pavan Kapoor, the Indian Ambassador to the UAE said, “the UAE has a comprehensive plan in place to ensure food security and champion agribusiness trade facilitation, with the ultimate goal of positioning our nation as a world-leading hub in innovation-driven food security,”
Agriota is backed by the Dubai Multi Commodities Centre (DMCC) and developed with Indian company CropData Technology and will provide secure transactions through a multi-tier escrow structure.
There are many blockchain firms that are working for the agriculture industry to increase efficiency and help farmers earn better revenue.
Back in July, it was reported that India’s largest farm producer organizations would be integrating blockchain to help rural farmers receive higher pay.
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