MOBILE REMITTANCE FOR SMALL FARMERS

Blockchain enables low-cost, quick, and secure payments that eliminate the burden on farmers. The payments can be done within a few minutes with limited transaction fees without the involvement of any middle agents like remittances or banks. The mobile payment system has opened a world of opportunities for many smallholder farmers excluded from mainstream financial services like banking and insurance.

The financial services enable smallholders to:

1. Invest in agriculture

2. Relieve liquidity constraints

Blockchain brings fairness in the process of agricultural finance via transparency and shared control accessibility.

Blockchain technology is used in removing counterparty risk for sellers through real time payment, automating and democratizing access to supply chain financing for buyers, and guaranteeing that all consumers have access to the provenance of their commodities to make informed purchase decisions.