Equitable pricing

Farmers’ incomes are highly unstable, often fluctuating due to weather conditions, market demand, and unpredictable market prices. These market prices are largely controlled by intermediaries. A long chain of middlemen separates consumers from producers, resulting in farmers receiving meager compensation for their crops while middlemen reap significant profits. Blockchain technology promises to disrupt this system by eliminating the need for middlemen, ensuring farmers are paid fairly based on the quality of their produce. Validators, independent of any external influence, will verify the data provided by farmers and record it on the blockchain.

Blockchain-based smart contracts automate payments when predetermined conditions are met, eliminating excessive transaction fees. This means farmers could potentially receive payment for their goods immediately upon delivery, avoiding significant profit losses. Many farmers struggle to sell their products at fair prices in traditional markets, as intermediaries often capture most of the profits with minimal effort.

This technology suite relies on a decentralized blockchain network. Farmers can use integrated platforms without intermediaries to form global trade unions and increase their profits. This is particularly beneficial for developing countries, where a large portion of the population depends on agriculture. Many people in these countries could be saved from starvation. Uganda, for example, had nine out of ten people living in rural areas in the 1990.

Smart contracts would eliminate the need for intermediaries, allowing farmers to connect directly with retailers. This would enable them to receive fairer prices for their products. Blockchain technology can provide a reliable record of farm status, inventories, and contracts. Ethereum-based blockchain technologies could improve land registration and secure tenure rights. Blockchain has also been proposed as a solution to enhance food security through increased transparency and efficiency.Feel free to test it out and copy the Markdown below by hovering over the code block in the upper right, and pasting into a new line underneath.