Blockchain Based De-Fi and Benefit Transfer

The project aims to increase the net profit of our farmers thus increasing the amount of money reaching the farmer by reducing intermediaries, reduicng wastage and providing a bigger window for selling. My idea is about implementing Blockchain in Supply Chain Management for Agriculture .In my idea, I aim to connect the lower income farmers on a priority basis with the customers by creating a common ground between the two stakeholders in the supply chain of the commodities like potato , onions , tomato etc using blockchain technology and uses a smart contract to deliver the payment straight into the farmers account.With the current ecommerce ecosystem this is not possible as their is no empathy established with the seller which is utmost required today as we do not know we might be ignoring a seller selling the same product but is under tremendous debt and stress.The distribution of groceries be done such that priority is given to the sellers with lower income so as to give an equal opportunity. For the idea , in the first phase we would onboard the farmers and collect their data Taking into account their annual produce , type of crops, purchase cost, area of land, debts. Similarly in the next phase we would on boarding the Customers from the nearby city where the household needs to be surveyed as what type of rice, vegetable, fruits are mostly preferred,average price and the storage capacity Finally we would do the Data Analysis and create a personalized virtual corridor connecting right farmers to the right consumer where the Farmer knows the demands and price straight away from the end customer and not any middlemen. The On boarding of farmers can be started from those who are in a financial burden and those be served first where the banks can help in providing the data of those farmers whose loans have been pending and became a Non Performing Asset . The truck involved in the logistics would do the washing and sorting of the products on the move and being a part of the blockchain itself would analyse the data and deliver the product itself. The idea is innovative as still today in developing nations ,there has very less usage of innovation In Agriculture Sector due to poor administration and management .Using Blockchain Technology into this sector would help in scaling the business model to global level and bring transparency.The idea is to create a ‘Farmer-Centric’ model aiming to uplift him/her to the better and giving control over the price , lessen the wastage , helping the households. Decentralisation of the existing system of cold storage/silos to lessen the burden on government .Decentralisation of the existing system of cold storage/silos to lessen the burden on government .Decentralisation of the existing system of cold storage/silos to lessen the burden on government .

¯

The project is build upon blockchain technology and aims to create smart contracts for each farmer and consumer for transactions that happen so that the payment reaches without any failure. The app has been build on OutSystems Platform

¯

To implement the idea in next few years on ground and connect with the right people .The platform would be made sustainable by making it free to the farmers for the First Five Year and then giving the power and option to either keep using the platform or pay per usage. This would apply only for the farmers not in debt and financially stable farmers. The first year would be all about educating the farmers , the consumers and on boarding them onto the platform .The data analysis would be done in the first year. The 2nd Year would be the year when the transactions can start taking place at the platform since the supply chain would be active and logistics being carried from the farmers to the households.The price of the vegetable/fruits would be determined by the marketplace price minus the cost incurred in transporting which when reaching the farmer would still be a good amount while the consumers would end up paying less price according to the quantity of the product. The operating cost would thus be sustainable by using the supply chain’s money only given by the consumer.Our core technology would be Blockchain as for such architecture Blockchain Technology would help in carrying the transactions with the use of ‘Smart Contracts ’ and the whole network of different stakeholders would be robust on this platform thus providing scalability which is utmost required here due to a large population. For,Direct Benefit Transfer using Blockchain we propose an end-to-end blockchain-based infrastructure to record disbursement of subsidy for each enrolled beneficiary.I have tried to build a sentimental value through the various options like checking the Farmer Financials as in this model we want to make the buyers believe that they are helping the farmers and they can keep a track of what changes are coming in their lives .There is a "Hearts"count button on the farmers app where he can get to know what his buyers are liking his harvested product.There is chat option also available where people can talk to the farmers and know their whereabouts which clearly is lacking nowadays but is important as someone is toiling hard to bring in the sun all year and I believe that the culture can change a lot when we connect the people .The gas fees and other resources incurred will not be deducted straightaway from the payment recieved from the customer but be taken from the farmer after a certain level of finacial state has been achieved by him.Till then , no money be taken. The trucks be equipped with apps and be made part of supply chain in contributing manner