This blockchain-powered platform for Indian spices will enhance the quality assurance of agricultural export commodities.
GN Bureau | April 12, 2021
UNDP India’s Accelerator Lab and Spices Board India under the Ministry of Commerce and Industry, Government of India have signed a Memorandum of Understanding (MoU) to build a blockchain-based traceability interface for Indian spices to enhance transparency in trading. UNDP India has independently secured support from the Cabinet Office of Japan for this initiative under the Japan SDGs Innovation Challenge.
Blockchain is a decentralized process of recording transactions on an open and shared electronic ledger. This allows for ease and transparency in data management across a complex network, including, farmers, brokers, distributors, processors, retailers, regulators, and consumers, thus simplifying the supply chain. This blockchain-powered platform for Indian spices will enhance the quality assurance of agricultural export commodities.
One of the key beneficiaries of this initiative will be small farmers with a potential doubling of income based on trading on this platform, said the press note. It will also allow farmers just as all other members of the supply chain to access the information which further makes the entire supply chain more efficient and equitable.
The design of the Blockchain interface is expected to be completed by May 2021. The project will be piloted with over 3,000 farmers engaged in chilli farming in Guntur, Andhra Pradesh. UNDP and Spices Board India is working towards integrating the Blockchain Traceability Interface with the e-Spice Bazaar portal developed by Spices Board India for connecting spices farmers with markets.
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