Companies from the UAE that produce and supply food will be able to receive ingredients directly from farmers in India through Agriota E-Marketplace, the blockchain-based platform.
In 2019, food supplies from India to the United Arab Emirates (UAE) exceeded $1 billion, so the prospects for the platform are huge. Thanks to the blockchain, all transactions will be transparent and verifiable. Indian farmers will be able to supply grains, seeds, fruits, vegetables, spices, and seasonings.
“The UAE has an ambitious plan to ensure food security, which should simultaneously simplify the conduct of agribusiness, as well as make the country a leading and innovative world center in this area,” Indian Ambassador to the UAE, Pavan Kapoor, said.
The platform was developed by Indian company CropData Technology with the support of Dubai multi-profile commodity and raw exchange (DMCC). Among the advantages of Agriota E-Marketplace is the ability to conduct secure transactions using a multi-level conditional deposit structure.
Let us recall that in early July, Sahyadri Farmers Producer Co, one of the largest companies uniting farmers in India, announced plans to use a blockchain to track deliveries.
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