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The agricultural sector in Latin America

2020.06.19 币圈资讯, 币圈资讯

With a view to a more comprehensive introduction in the future, cooperation will initially focus on supporting farmers in Latin America and the Caribbean. According to the publication, farmers in this region are particularly badly affected by the coronavirus pandemic.

The agricultural sector in Latin America and the Caribbean (LAC) accounts for 23% of agricultural and fishing commodities exports worldwide, according to a study by the Organization for Economic Cooperation and Development (OECD) and the Food and Agriculture Organization of the United Nations (FAO). By 2028, these organizations expect the LAC region to account for 25% of agricultural and fishery exports. Therefore, it is an extremely important region for maintaining the global food supply chain.

One of the objectives of the cooperation is the use of VeChain’s blockchain technology to reduce the gap that has widened due to the current emergency situation between producer and consumer. Therefore, the VeChainThor blockchain will be integrated into the value chain to “empower” farmers. Through the transparency application “StoryBird”, farmers will be able to establish a direct link to markets and consumers.

The application will be driven by the VeChain ToolChain and will allow all actors in the food trade to validate the origin of the products and have access to traceability tools for deliveries. In addition to increasing transparency in the supply chain, StoryBird will allow producers, processors, packers and other actors to “publicly list organization and product profiles for access to global markets”.Thus, the application will enable socially responsible buyers to join in. StoryBird will also be an important addition to improve the way farmers advertise. The application allows its users to upload photos and other visual media so that consumers of a product can capture its history and origin.

Author : Reynaldo

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