Reasonable pricing

Blockchain technology offers lower-cost, faster payment options for agri-commerce participants. Traditional payment methods, like wire transfers, can be costly and time-consuming, often delaying payments to farmers for weeks. Blockchain can address these inefficiencies. In a blockchain system, smart contracts are programmable infrastructures that users can customize based on their needs. All smart contract files are stored in information blocks with detailed specifications. In case of disputes, other network operators can verify the information and resolve the issue.

Blockchain technology reduces the number of intermediaries, enabling farmers to establish direct contracts with retailers on more favorable terms. By increasing market transparency, blockchain can encourage social pressure on parties that profit excessively. This strategy has proven effective in eco-organizations. Farmers can leverage blockchain-based platforms to create international trade unions that safeguard their rights.

Smart contracts can automate insurance claim assessments, streamlining the process and enhancing transparency. They minimize the risk of fraudulent claims and corruption by preventing unauthorized changes to insurance policies. Blockchain technology offers transparency in agricultural finance transactions, credit history, and financial agreements, benefiting smallholder farmers. Shared access and immutable agreements enable smallholders to make partial payments for raw materials and machinery before or after delivery, ensuring fair market prices.

Smart contracts streamline processes, ensuring farmers receive timely payments for their products. Through blockchain-based marketplaces, farmers can connect with fair purchasers and expand their customer base.