Indonesian farmers set to benefit from blockchain-based digital transformation tech
Indonesian blockchain developer Pundi X announced on 8 November that it will co-develop and deploy DLT-based point of sale (POS) devices for use in the agricultural industry, facilitating data collection and financial inclusion in developing countries
Pundi X will work with HARA, another Indonesian firm focused on enabling the digital transformation revolution in agriculture around the world, to drive adoption of the blockchain-based payment solution for digital currencies.
XPOS, the device in question, will initially undergo a limited rollout across Indonesia, with the aim of achieving a distribution of one device for every 200 farmers in participating regions.
Pundi X’s press statement noted that the World Bank estimates an increase of 1% in agricultural productivity equates to a commensurate reduction in people living in poverty, and the firm hopes that the increased efficiency and mitigated wastage facilitated by data accrued will have a meaningful impact on Indonesian livelihoods and beyond.
It added that the data harvested by HARA from around 10,000 farmers over the past year, alongside data generated through adoption of XPOS, will be commercially desirable as consumers increasingly demand supply chain transparency, and many firms are keen to secure insight into the growing smart agriculture market.
The global market for digitally-transformed farming practises is projected to reach a value of US$12bn by 2021.
- dataxu to provide SK Broadband with addressable TV capabilities
- Visa to accelerate Asian fintech integration with its global payment network
- Chinese Starbucks challenger Luckin Coffee targets US$2bn valuation
"A founding aim of Pundi X was to bring the benefits of blockchain technology and digital payments to the unbanked and to promote financial inclusion and independence," said Constantin Papadimitriou, President and co-founder of Pundi X, in the company’s press release.
"We are proud that the Pundi X POS will soon be rolled out among HARA's already-impressive network of farming partners and can help facilitate their plans to better such a significant sector of the world economy and the lives of the hundreds of millions of people who depend upon it".
Regi Wahyu, CEO and co-founder of HARA, added:
"HARA has dedicated itself to connecting the missing pieces in global agriculture for the benefit of everyone involved in the supply chain. The data we are already collecting from farmers brings benefits to transportation, to consumers, to commercial interests and to governments.
- Binance tackles crypto crime with new executive hireLeadership & Strategy
- VMware's 7 Rs of Modernisation – how best to update appsTechnology
- SAP ecosystem of 2,200 partners delivers customer successLeadership & Strategy
- How Microsoft is transforming Asia’s economies and societiesTechnology