If one of the fundamental factors driving the development of blockchain technology is to make the world a better, fairer and more transparent place, then leading charity Oxfam are keen to play their part. According to a recent publication in Cambodian newspaper The Khmer Times, Oxfam have just launched their very own blockchain project known as BlocRice.
The concept behind the project is to provide the agriculture sector in developing nations with greater levels of power when it comes to negotiating sales with buyers. Moreover, it is also hoped that through the use of cryptocurrency tokens, the underlying supply chain will increase its scope.
Transparent Rice Project Begins in Cambodia
BlocRice has decided to launch its first project in the South Asian state of Cambodia – a country that relies heavily on the exportation of agriculture products such as rice. In fact, in 2016 alone, the agriculture sector contributed more than 26.7 percent towards Cambodia’s GDP, subsequently resulting in the exportation of more than 542,000 tons of rice.
The project was first rolled out in April 2017 as part of an initial pilot test, with the view of attempting to ascertain whether blockchain technology could ensure farmers sell their goods at a fair price. According to Solinn Lim, director at Oxfam Cambodia, agricultural stakeholders will be required to engage with the blockchain-based contract, which if successful, will give farmers far more bargaining power than they are currently accustomed to.
Furthermore, by utilizing the autonomous and immutable characteristics of smart contract technology, the project will bridge the gap between farmers, exporters and ultimately, purchasers of the rice that are based in the Netherlands.
First World Nations also Play their Part
One such organization within the Netherlands that has already agreed to implement the technology is SanoRice, who primarily use Cambodian-based rice for the manufacturing of crackers. As a result, the entire end-to-end supply chain process can be tracked and management within the transparent blockchain protocol.
On top of ensuring farmers from within developing nations receive a fair price on the goods they export, the BlocRice project also aims to introduce cashless payments. In collaboration with Acleda bank, the project will assist farmers in their attempt to reach banking services – something than many rural Cambodian regions are currently unable to access.
Ultimately, if the process is labeled a success, it is hoped that BlocRice will be expanded not only to other developing nations, but across other agricultural products.
Global Organizations Showing that Blockchain Technology can Benefit Society
This isn’t the first time that a global organization has utilized the benefits of cryptocurrencies and blockchain technology with the view of making the world a better place. Earlier this month we reported how Leading U.S. manufacturer SC Johnson – who primarily create goods linked to household cleaning products, are currently in the early stages of introducing blockchain technology to Indonesia.
The idea behind the project is to create an incentivization program that rewards locals for recycling their plastic waste. At present, Indonesia, along with other nations in the Asian region such as China, Vietnam, Thailand and the Philippines, are responsible for more than 55% of the world’s plastic waste that is subsequently dumped in the ocean.
By creating an incentivization system, those that choose to recycle are rewarded in the form of tokenization, which it is hoped can then be used to purchase goods and services.
