UAE companies producing and supplying food products will be able to source ingredients directly from farmers in India through the Agriota E-Marketplace blockchain platform.
In 2019, the volume of food supplies from India to the United Arab Emirates (UAE) exceeded $ 1 billion, so the platform’s prospects 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 condiments.
“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,” said Pavan Kapoor, Ambassador of India to the UAE.
The platform was developed by the Indian company CropData Technology with the support of the Dubai Multidisciplinary Commodity Exchange (DMCC). Agriota E-Marketplace benefits from the ability to conduct secure transactions using a tiered escrow structure.
Recall that in early July of plans to use to track shipments blokcheyna announced Sahyadri Farmers Producer Co – one of the largest companies that integrate farmers in India.