Oxfam has officially launched its BlocRice solution in Cambodia.
This taps blockchain technology to provide transparency and security between rice growers in the country and purchasers in Europe. Plans are afoot to expand to 5,000 farms by 2022.
“The project aims to test blockchain technology and its smart contracts, a digital three-way contract farming arrangement between primary producer, Cambodian rice exporter and retailer in Europe, to improve farmers’ livelihood and their supply conditions,” Oxfam states.
“Farmers gain collective bargaining power since agricultural cooperatives will be party to the contracts,” adds Oxfam in Cambodia Country Director Solinn Lim.
Further details here.