AgriChain supports traditional, well-established agricultural supply chains with a dynamic and seamless software solution. Product is a simple-to-use, secure, independent platform that connects and transfers information between supply chain participants.
AgriChain manage agricultural products as they move across the globe, businesses need a transparent, trustworthy platform to facilitate those transactions. AgriChain builds networks amongst key stakeholders and improves time to market, while reducing supply chain costs and inefficiencies. Combining user-friendly native mobile applications for farming and logistics operations with a powerful web application for business administration, AgriChain provides end-to-end visibility of the agricultural supply chain. AgriChain (formerly BlockGrain) is the culmination of two years of design, development, testing and refinement. Original product has been used in the industry for two harvests, enabling users to manage and control their stock.
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Currently, it’s largely untenable for local farmers to deal directly with global consumers. Currency exchange risk, contract renegotiations, buyer payment defaults, burdensome documentation, and high administrative overheads force local farmers to rely on multinational intermediaries to export their products.
With growing consumer affluence around the world, paddock-to-plate traceability and full disclosure of the production and supply chain is playing a greater role in consumer purchasing decisions. Increasing demand for single-origin products gives farmers new opportunities to extract maximum value from the quality of their produce. Many producers of agricultural goods (including coffee, wool and meat) are beginning to take advantage of the growing interest in single origin markets. However, consumers are still provided with limited evidence to confirm the origin of their purchases.
Loss and Waste
A key report by The Food and Agricultural Organization of the United Nations found that up to one-third of the food produced for human consumption (1.3 billion tonnes) is lost or wasted each year. In developing economies, this is attributed to financial, managerial and technical constraints in the early stages of the value chain which affects harvesting and storage. Despite severe food shortages, more than 40% of the total food produced in developing economies is also lost. The amount of food lost or wasted in Africa and Latin America could feed 600 million people every year.
BlockGrain supports traditional, well-established agricultural supply chains with a dynamic and seamless software solution. By enabling one-toone global trade, BlockGrain encourages farmers and their AgriChain supporting businesses to connect with buyers to develop and grow their own supply chains. BlockGrain aims to make a positive impact on the global agricultural sector and society as a whole. With the development of blockchain technology, BlockGrain has an innovative digital approach and the required industry knowledge to distribute a greater proportion of value to the farmers and the critical businesses that support them.
Through BlockGrain, approved insurance companies will get unprecedented visibility of the farmer’s stock in field, stock on hand and stock in transport. Emerging ‘Internet of Things’ (IoT) solutions for heavy machinery and storage in the agricultural sector also provide additional opportunities to enhance the data recorded in AgriChain. By gaining access to
live, accurate, immutable data, insurance companies are able to effectively assess claims, offer tailored products to customers, disperse payments on claims, monitor risk, identify suspicious behaviour and improve fraud assessment.
Using AgriChain, farms of any size will be able to connect in a secure peer-to-peer (P2P) lending environment that enables businesses with a cash surplus to offer short-term loans to those needing access to short-term capital. The BlockGrain platform enables like-minded farmers to agree on lending arrangements that overcome traditional overdraft loans, driving down the cost of agricultural financial products, while ensuring that any interest paid stays within the industry.
AgriChain Industry Needs
During harvest trials, BlockGrain 1.0 emphasised existing limitations with cellular data network coverage in rural areas. User feedback highlighted the importance of creating a platform which is able to operate without an active data connection. BlockGrain 2.0 overcomes this issue by caching key data on the mobile device until a data connection is re-established. This allows the AgriChain mobile application to continue operating, regardless of network coverage.
AgriChain has been designed by farmers and agricultural supply chain participants to meet the specific needs of their industry. While this ensures system features are immediately relevant to users, BlockGrain is not relying on functionality alone to capture key markets. Brokers play a vital role in BlockGrain’s broader technology adoption strategy, as they work closely with their client farmers and are relied upon as market and industry experts.
The team at BlockGrain believe wholeheartedly in the creation of a level playing field and access to markets for all farmers in all regions of the world. Achieve this goal, AgriChain aims to leverage a future market presence in developed farming economies to distribute the BlockGrain platform to developing economies at no cost to the user.
Financial Benefits of AgriChain
Reducing Cost of Capital
Each year, farmers are financially constrained through the inability to obtain fast and affordable inventory finance on products that have been harvested and are awaiting sale. In traditional agricultural supply chains, there is a lack of visibility over stock on hand, the quality of that stock and true market value. Consequently, financiers are reluctant to provide inventory finance to farmers, and are constrained by the types of inventory finance that they are prepared to offer.
Improve Cash Flow
Poor cash flow is responsible for the failure of up to 90% of SMEs22, and agricultural supply chain businesses are no exception. In the day-to-day operations of their business, agricultural supply chain participants are affected by impeded cash flows. To ensure a predictable and reliable cash flow, businesses attempt to match receivables to payables. Unfortunately, as agricultural commodities move through supply chain.
Key Benefits of AgriChain
Supply Chain Tracking
Combining user-friendly native mobile applications for farming and logistics operations with a powerful web application for business administration, AgriChain provides end-to-end visibility of the agricultural supply chain. BlockGrain enables farmers, brokers and logistics companies to transfer data and automate the delivery process, from the paddock to end user.
AgriChain provides seamless contract solutions between farmers, brokers, buyers and logistics providers. BlockGrain’s aim is to provide the best automated software solution for creating commodity contracts and freight contracts.
With AgriChain, users are empowered to make decisions supported by accurate information and market data. By providing visibility of commodity stocks, users know exactly how much product they hold, where it is going, when it is getting there, and what its value is. At every stage of the supply chain, users can be confident that they have the information required to maximise their bottom-line.
Proof of Origin
As commodities move along the supply chain, proof of origin can be established by creating an immutable blockchain record of the journey from paddock to plate. Key supply chain participants as well as supply chain nodes owned and controlled by each of these entities (such as fields, silos, trucks and delivery locations) are recorded at every stage. AgriChain
also records key commodity data including the weights, types, varieties, grades, specifications and inputs.
Caile Ditterich, Chief Executive Officer
Baden U’Ren, Chief Finance Officer
Sam Webb, Chief Operations Officer
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