The Middle East has placed a $100 million order with ThinkChain’s new venture AgroChain, which provides an all-inclusive solution for farmers and is the first blockchain-based farmer value network in the world.
AgroChain seeks to expand the nation’s agricultural ecosystem by offering farmers a variety of goods and services. This project also includes AgroVerse, a platform where the metaverse and actual farming collide.
Crop insurance, farmer-specific procurement management systems, farmer-specific banking and debit cards, the development of export and import channels, and a whole lot more are also included.
The farmers’ community within AgroChain will be known as CryptoKisan, it should be mentioned.
Unexpectedly, ThinkChain’s AgroChain would emphasise the use of CBDCs because it would offer services like the integration of CBDCs and the payment of bills using digital assets.
AgroChain will transform the Indian agricultural sector
According to Mr. Dileep Seinberg, Co-Founder of AgroChain, India is one of the major players in the world’s agriculture market, and its agricultural sector is anticipated to be worth roughly $24 billion by 2025.
Blockchain technology has been rapidly adopted throughout the nation, opening up a wide range of potential for a variety of industries and hastening the development of new technologies like 5G, Web 3.0, and Metaverse.
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He continued by saying that AgroChain intends to enhance and improve the entire agri value chain and that it will revolutionise the Indian agricultural business.
Another AgroChain Co-Founder, Mr. Mohit Joon, claims that the new business would increase the efficiency of blockchain-based agriculture by increasing financial transparency in agricultural transactions, lowering the risk of fraud, and removing middlemen from the agricultural value chain.
ThinkChain
ThinkChain seeks to, among other things, tokenize physical assets into digital assets and upgrade Web2 firms to the Web3 layer of the Internet. ThinkChain’s portfolio also includes SmileCrypto, MuffinPay, and Agrochain