BINKABI IS USING BLOCKCHAIN TECHNOLOGY TO HELP AFRICA’S FARMERS BOLSTER THEIR PROFIT

(Ventures) With about half of the worlds uncultivated arable land and an income in excess of $700 billion annually, agriculture remains Africa’s largest economic sector. The continent is blessed with tropical climates that allow long growing seasons; a young labour force and an ever-growing population. But despite these known facts, it is yet to fully harness certain opportunities that will ensure sustainable food production and security. Some of the issues that pose a challenge to farming in Africa include access to land and the use of manual technology which translates to low and volatile profits. Farmers who have access to land and are able to get skilled and mechanized labour still have to deal with the challenge of supplying their produce to the market. Inability to do this on time leads to wastage of many products. In this light, Founder/CEO of Binkabi, Quan Le came up with a plan. During a meet-up with entrepreneurs recently in Lagos hep resented the ‘Commodities 3.0 System’- a platform created by Binkabi that establishes a direct link between farmers and consumers thereby eliminating the middlemen and enabling farmers to make good profits from their products. It is also a means through which consumers get… continue reading

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Source: CTRM Center

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