Hyderabad: Integrated agri blockchain developed by the University of Hyderabad with Synchrony IT as funding partner has got support from two more entities.
Samunnati, an agri value chain enabler, and Social Education Economical Development Society (SEEDS) will help in deployment of the platform on ground level.
The artificial intelligence and machine learning-enabled blockchain platform will connect farmers with vendors, food processors and packaging firms. Centered around farmer producer organisation (FPOs) and farmer members, it will enable buyers and sellers to interact without an intermediary in a secure and trusted environment.
While Samunnati will be the primary lender in the blockchain platform, farmers in Tamil Nadu will be the first beneficiaries of the project.
“We are starting with our second pilot in Telangana wherein we have partnered with FPOs representing 1,000 farmers and are looking to expand the platform to all segments of the agri ecosystem,” said Prof. Vijaya Bhaskar Marisetty, Professor of Finance, School of Management Studies, University of Hyderabad, who along with Dr. Varsha Mamidi, faculty member, Machine Learning, University of Hyderabad has co-investigated and developed the platform.
The blockchain project aims to bring the entire agri ecosystem, from farmers to financing experts to a single platform, thereby simplifying the exchange of information by reducing the level of information asymmetry and easing the manner of transaction.
Anil Kumar SG, founder and CEO, Samunnati, said, “Being a part of such an integrated blockchain technology is a new, but a very important step for Samunnati in its vision to make markets work for the smallholder farmers.”
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