ELG And nChain To Offer blockchain-based Solutions To Farmers
ELG (eLivestock Global) and nChain have collaborated to release a cattle traceability project. The aim is to ensure that livestock is healthy and to help farmers in Africa with cattle rearing.
eLivestock And nChain Integrate Blockchain Into Agriculture
The latest solution from eLivestock and nChain will ensure each animal receives a special digital passport. The passport will contain data about movements, vaccinations, and ownership.
Also, farmers can scan and collect information through an RFID tag. This tag will be on the ear of the articles and linked to a phone-based app
The unique platform that nChain provides notates this information in a public database. This provides transparency to all parties involved in the process, including beef purchasers and banks, and also makes it possible for farmers to get paid automatically.
The system removes the mistake of duplication, hence reducing the dependence on 3rd parties and the expenses that are associated with that reliance.
Meanwhile, Chris Light, eLivestock CEO, noted that the company plans to expand its operations in Africa. Hence, they need an innovative, scalable, and robust blockchain solution.
For this reason, the firm partnered with nChain to grow its capacity. The CEO said the firm is happy to have nChain on board as a technology provider.
Besides, this partnership will help eLivestock to fulfill its purpose of providing smallholder livestock farmers with global market access and scalability. Additionally, it also offers financial and digital inclusion.
Further, nChain’s solutions will assist farmers in maintaining the honesty of livestock data as eLivestock continues to expand its footprint on a national and regional scale.
ELivestock is optimistic that nChain will be able to expand and scale along with the company as they keep adding new features and services to the platform.
Blockchain Technology Solving Real-Life Problems
Meanwhile, several African farmers are unbanked and have no proof of their livestock. Hence, they cannot use them as collateral to receive loans. Moreover, the issue of climate and disease outbreaks is a major regional crisis.
Leandro Nunes, nChain’s Chief Revenue Officer, stated that this project shows that blockchain has more uses other than for payment. Nunes added that blockchain could address problems that occur in the real world.
“Our cutting-edge technology offers the best performance in the business, both in terms of adaptability and energy efficiency. This allows us to save costs and provide farmers with the opportunity to earn the highest potential pay. We are thrilled to collaborate with customers like eLivestock, who understand the extraordinary potential of blockchain tech,” Nunes remarked.
The joint partnership, which includes the notarisation of all information recorded or updated through the RFID tag, capitalizes on the knowledge and expertise of both parties. Their latest project uses blockchain technology to solve one of the major problems in the actual world.
Recently, LexisNexis chose nChain among the most innovative companies in 2022. Also, eLivestock has received several awards, including an Innovation Award from SID-US in 2022.
