Agri value chain enabler Samunnati has announced the plan to support the integrated agri blockchain platform developed by the University of Hyderabad in partnership with Synchrony IT and Social Education Economic Development Society (SEEDS).
The programme, a statement said, is aimed at bringing the entire agri ecosystem, from farmers to financing experts, to a single platform.
It leverages AI and ML to connect farmers with vendors, food processors, packaging firms and other stakeholders, allowing buyers and sellers to interact without an intermediary in a secure and trusted environment.
“Through our partnership with the University of Hyderabad, SEEDS and Synchrony, we are trying to push the technological boundaries and level the information asymmetry in the agri value chain by directing the players and institutions in the agri ecosystem to a single platform,” Anil Kumar SG, founder and CEO at Samunnati, said.
“This will help them avail and understand the data and information that is already available by making it easily accessible on a common platform,” he added.
The platform will increase transparency for all stakeholders and facilitate data collection, which is essential for making farming more efficient and less vulnerable.
Besides, it will also improve asset traceability, provide accurate data on farmers’ input requirements to input suppliers and inventory data to output providers.
Overall, the integrated agri blockchain platform will help in increasing the future cash flow predictions, enabling lenders to purchase inputs on behalf of the farmers’ and provide trade finance to farmers.
Commenting on the benefits platform, GR Chintala, chairman of NABARD, said, “Everyone in the supply chain from the farmers, input suppliers, the credit suppliers, equipment hirers to the processors, warehouse managers, etc. can now log into the platform and gain benefits from the initiative.
The FPOs can now avail the data from the platform which makes it very easy for them to submit all the returns.
“Also, people can now quickly get the details on who is producing/supplying what as well as the quality controls on a single platform now,” he added.