The concept of cryptocurrency and blockchain technology is revolutionizing business sectors across the globe. After proving its benefits for the financial technology domain, FMCG sector, and supply chain, the concept of digital coins is proving very much handy for the agriculture sector. The farmers are particularly benefited from the Bitcoin as they can use the digital coin to sell their products in far-flung areas across their own borders and countries. Take the example of the farming community in Argentina. Through the website named Tierra Buena, farmers there are able to sell their organic produce without the interference of any gatekeeper or middleman and that too to a wider customer base at attractive prices.
Wider reach and access
It is indeed a humble reminder of the utility of Bitcoin, which is creating financially viable opportunities for the important section of the society – The Farming Community. Using digital currency, farmers get the freedom to choose their buyers independently, which, in turn, means they get a good share of their profit coming back to their pockets. Unlike the traditional way where most of the margin goes back to the middlemen, the payment through cryptocurrency has opened up a wide possibility for farmers in Argentina.
Crypto Coffee Coin
One of the specific examples of crypto integration in the supply chain is related to crypto coffee coin – a concept used by the farmers in Brazil. Crypto coffee coin is a digital coin that is pegged to the coffee and can be used to purchase a range of products/services related to farming equipment. With the help of Crypto Coffee coin, farmers have been able to get access to funds that are required for the good coffee produce. In addition, the digital coin can also be utilized in order to buy the items of daily routine. This alternative has become popular among the farming community within no time and the project is also widening its scope to include suppliers and traders for a seamless supply chain and sales of the produce.
Blockchain and its Utility
Behind the scenes, helping this whole transformation is the blockchain technology. It is a technology that powers digital coins. On the blockchain, transactions are recorded on a digital platform and thanks to its cryptic decentralized nature, the available record can’t be altered. With the help of blockchain, the authenticity of transactions can be ascertained and this brings the comfort and confidence to all stakeholders involved in the process.
Slowly and steadily, people are waking up to the potential of cryptocurrency. While one set of benefit is realized in the form of investment opportunities and lucrative returns that some platforms like bit-qtpro.com can offer, another set of benefits are realized by the people who are having a more humble background. The farming community can definitely be benefited from the adoption of cryptocurrency as this will free them from the clutches of middlemen or gatekeepers who have held farmers’ hostage for long now.