Small scale farmers in Africa make about 70% of Africa's labour force, which makes it important to provide them with proper instruments and equipments to continue their farming activities.
One of Africa's biggest agri-tech company Block Commodities, is creating a new agricultural ecosystem titled Farmer 3.0. This new system is designed to facilitate smart agricultural services through tokenized systems that will empower small scale farmers in particular.
Apart from blockchain, the company is also deploying other complex technologies such as AI(Artificial Intelligence), use of cryptocurrencies to boost African farming activities. Agriculture is the only sector that employs most of the people in Africa, which makes it a big opportunity for economic growth, poverty reduction and proper nutrition. But there is still a big challenge to educate farmers on how to practice better and effective farming methods as well as marketing of the produce.
Block Commodities is one of the companies that have come up to educate farmers on how to use their full potential regardless of limited access to funds, poor farming incentives,etc.
The company's main plan is to increase agricultural production with the help of a blockchain based platform, and also help small scale farmers secure crypto loans without the hassle of banks and other financial institutions.
The system has already been tested in Uganda,where farmers were given crypto loans and other incentives in last September.
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