The blockchain technology has proven that financial inclusion can be made possible to all. Farmers in Ghana are beginning to employ the technology to increase the production of Cocoa. The Olam Farmer Information System (OFIS) is helping to change the profits of farmers, tripping their production and reducing dependency on the pesticide. Farmers now share farm data with advisors using the OFIS app and receive recommendations on how to increase their yields.
Olam apps allow products to be tracked from the farm, and farmers can check cocoa prices and trade online, achieving a better price for their crops. Olam technology is applying the blockchain technology to the supply chain management of cocoa. Allowing products to be tracked from the moment it leaves the farm. Farmers can also use the Olam app to check cocoa prices and trade online, receiving a better bargain price for their crop. This is increasing the farming yield as a farmer from Sefwi, Muhammed Adams, explained that since he started using the OFIS farm development plan, he now harvests 25 bags of cocoa instead of his usual 7 bags.
Securing better prices for their products is one thing that farmers do not really get. But, now with the benefit of digital technologies, farmers can now choose who to sell their products to, picking the price that suits them best. Simon Brayn-Smith, head of cocoa sustainability at Olam explained that Money can be paid directly into the farmer’s mobile money wallets. The company is also setting up Olam Direct in Indonesia which will allow farmers to sell cocoa directly to the company at a much better daily price. Since accessing the internet is still a problem for most farmers, the firm designed their apps in such a way that most of them can run using text messaging. The future of farming is being built on the blockchain and very soon we anticipate a world of change.
What do you think about applying blockchain in Agriculture? Share your opinion with us in the comment section below.
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