Elivestock Global and Nchain will launch a blockchain platform for African farmers – Bits Media

Elivestock Global and Nchain will launch a blockchain -based system for tracking cattle and financial support for agricultural enterprises.

CEO Elivestock Chris Light (Chris Light) explained, that each animal will have a unique "digital passport "with information about the owner, vaccinations and movement. Data is collected using the radio frequency identification label (RFID) On the ear of the animal, they can be scanned through a special mobile application.

This information, The developers assure, will be stored in a transparent distributed registry and will remain available to any interested parties: from banks to beef buyers. With the help of blockchain, Farmers will be able to automatically receive payments. The system will eliminate the risk of data duplication and the need for intermediaries, and will also reduce operating expenses.

Light noted, that now there is no single approach to solving problems, associated with cattle diseases or climate change-due to the lack of an international identification system. Many African farmers do not have a bank account and cannot prove the ownership of the cattle. It means, that they cannot lay animals to obtain a loan. The current attempts of farmers to solve the problem remain in vain, since farmers are too much dependent on the support of non -state organizations. The other side of the problem: Private companies, data storage and paying processing, charge for this a large commission.

“Blockchain can serve not only for payments, but also solve real problems, which are faced with local farmers. We are happy to work with such companies, Like Elivestock, ready to use the unique potential of the blockchain ", - added the director of the commercial department of Nchain Leandro Nunez (Leandro Nunes).

Blockchain began to be used in agriculture several years ago. Also in 2018 a year in Australia launched a blockchain -based system to track the supply of beef. And in 2019 The Blockchain technology began to test the National Council of US pork producers.