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UAE launches Agriota, a blockchain solution for Indian farmers

In a move to smoothen the synergistic relationship between its food sector and Indian farmers, the United Arab Emirates recently launched a new e-commerce system. Known as Agriota, it is a platform that is based on the blockchain technology. The system got launched based on the orders of the Dubai Multi Commodities Centre (DMCC) of its free-zone and the authority of commodities trade and enterprise of Dubai.

The UAE Forsan recently announced this news through a tweet in the last week of August.

Agriota was initiated to help Indian rural farmers get straight access to the food industry of the UAE. In the UAE, the stakeholders in the industry include traders, wholesalers, and food synthesizing companies.

The tool will be made accessible to the public through the trading and sourcing platform powered by technology. Besides helping India-based farmers get straight access to the UAE food industry, the system will also enhance the supply chain’s tracking and optimization to support stakeholders in creating value.

When the platform initial begins operation, it will be offering spices, condiments, cereals, oilseeds, vegetables, and fruits. Also, there have been adequate measures to ensure a more secure transfer method on the platform. Due to this, a licensed banking mechanism with multiple levels of escrow system is entirely in place.

Using the blockchain technology to promote product traceability

While trying to enhance reasonable practices and system-to-system product transfer tracking, the Agriota application uses blockchain technology. This blockchain mechanism will be using the last-mile validation as well as the extension structure.

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The Executive Chairman and the CEO of DMCC stated that numerous India-based farmers would be reaping the benefits of Agriota. He even said that this would make sure of any better food security in the UAE. He also said that the UAE has a complete plan set on how to make sure of food security and initiate trade facilitation of agribusiness, with the end goal of better positioning the UAE as a country with the best food security industry driven primarily by innovation.

The CRO continues that when Agriota, an innovative model, finally gets underway, it will take the UAE one step closer to the Global Food Security Index’s zenith. This indicates that the system will enhance rural regions, enhance the security of the UAE’s food industry for a long time, and enhance the transfer of high-grade farm-to-store products.

Agriota, a platform that enhances the supply of agricultural commodities, is aligned with the UAE’s long-term strategy to enhance its food security and make sure of the trade feasibility between agricultural commodities. The strategy’s fundamental aim is to make UAE the best country in terms of a secured food industry driven by technology.

Sri Lanka moves to adopt blockchain technology for its KYC process

In another recent report, Sri Lanka recently announced a shortlist of proven technologies for a KYC system based on the blockchain technology.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.