~ AgroChain receives 800 cr ($100 Million) order value through Middle East
ThinkChain has launched AgroChain, the world’s first blockchain-based farmer value network. Agrochain has received an order worth INR 800 ($100 Million) crore from the Middle East. It is an all-inclusive solution for farmers worldwide. Agrochain will expand the Indian agriculture ecosystem by providing farmers with a variety of products and services. These include AgroVerse (where the metaverse meets real farming), financial, lending, crop insurance and procurement management systems for farmers, carbon credit benefits, the creation of export and import channels, banking and debit cards for farmers, and so on.
In addition, AgroChain aims to increase CBDC adoption in the agriculture industry by providing services such as CBDC integration and bill settlement using digital assets. Farmers community in AgroChain will be known as CryptoKisan.
Speaking about the launch, Mr Dileep Seinberg, Co Founder, AgroChain said, “India is one of the largest players in the global agriculture industry, and agriculture is the primary source of income for approximately 58% of India’s population. By 2025, the Indian agricultural sector is projected to be worth 24 billion dollars. The rapid adoption of blockchain technology in India has created opportunities for multiple sectors. The blockchain is already reshaping the way the industry does business by lowering the risk of fraudulent activities, increasing transaction speeds, assisting farmers in crop control and analysis, and much more. Therefore, we believe that AgroChain will revolutionise the Indian agriculture industry. Together with the government, we intend to expand this initiative and provide a global platform for farmers around the world.”
He further added, “The use of public digital infrastructure for the agriculture industry in accordance with an open source standard will generate a tremendous amount of momentum and serve as a growth catalyst. Our GDP growth is further expected to be accelerated by the upcoming wave of technologies, including 5G, Web 3.0, and Metaverse. The entire agri value chain will be transformed and strengthened, and it will become more effective thanks to the digital infrastructure for farmers and agriculture, which includes supply chain and analytics.”
Speaking about the launch, Mr Mohit Joon, Co Founder, AgroChain said, “The agricultural ecosystem stands to benefit from the use of blockchain technology due to its potential to improve efficiency, transparency, and trust. By fostering trustworthy relationships, blockchain in agriculture can empower all stakeholders.Our goal with AgroChain is to boost the effectiveness of blockchain-based agriculture by bringing transparency to agricultural financial transactions, reducing the risk of counterfeiting, and eliminating intermediaries from the agricultural value chain.
Thinkchain is revolutionizing Industries by leveraging Distributed Ledger Technologies worldwide. Thinkchain’s objective is to create a $25 billion enterprise by 2030. Core services of Thinkchain include the transformation of Web2 businesses to the Web3 layer of the Internet, the tokenization of real-world assets into digital assets, and the creation of businesses that can introduce New Money (Crypto) into the economy. Thinkchain Fund is committed to fostering the success of Web3 and crypto ventures. Agrochain, SmileCrypto, and MuffinPay are all part of the Thinkchain portfolio. ThinkChain’s team of experts and advisors operate remotely from 5 different countries. Thinkchain is one of the pioneers of the Asian crypto ecosystem, actively developing and offering Crypto & Blockchain solutions since 2016. ThinkChain has completed over 20 initial coin offerings (ICOs) for clients and assisted ventures in raising over $25 million in capital. ThinkChain has been ranked among the top 10 Asian Blockchain solution providers for 2019 and has partnered with Tech Mahindra ($5.2+ Billion) to co-develop blockchain products.