Farmsent, the world’s first farmer’s blockchain, is elated to announce its partnership with the Belt and Road Initiative to reshape the narrative of interconnected and sustainable agriculture.
The two signed a Memorandum of Understanding to see them combine their technologies and expertise in the agriculture sector. Farmsent is bringing its traceability system to the collaboration to refine product tracking. This promises to set a gold standard for transparency and efficiency, shaping the future of agriculture.
Farmsent’s traceability system, which utilizes immutability as the core technology, will now seamlessly be integrated into The Belt and Road Initiative to ensure transparency and accountability of operations within the traditional medicine ecosystem and agricultural sector. Since its inception, the system has gained popularity for its precision in tracking various parameters such as humidity, soil health, temperature, and location. The alliance also aims to redline possibilities in agriculture and related trades globally.
Farmsent’s Vision for the Belt and Road Initiative:
Commenting on the partnership, Yog Shrusti, CEO of Farmsent, stated:
“This isn’t just a partnership; it’s a game-changer. We are beyond thrilled to bring our innovative solutions to The Belt and Road Initiative. Farmsent’s traceability system, with immutability at its core, is set to redefine how we approach transparency and efficiency in agriculture. We are incredibly grateful for this opportunity, and this collaboration will be an important step forward for traceability and transparency in trade.”
The collaboration aligns with The Bely and Road Initiate visions to create a better agricultural environment. The initiative recently invested $1 Trillion in the industry. The project has also helped 149 countries across the globe with various agriculture projects. Notably, the Chinese government has allocated 2200 hectares of land for Farmsent’s Agriculture Center, Traditional Medicine and Health Base.
Farmsent is a blockchain dedicated to farmers and aimed at improving the global food supply chain. Farmsent has created a platform that works by preapproving the farmers and the products. The project also preapproves the buyers and gives them access to the platform. Farmers log into the platform, upload their products, and determine the pricing. Buyers either buy or bid. All the products farmers put on the platform have a time limit; within that period, the farmers are committed to selling the product to Farmsent, and the farmers cannot retrieve the product. If there is an interest from the buyer, the tokens are locked, farmers deposit the goods, the Farmsent team or partners verify and the goods are marked for shipping, and settlements happen.
