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Terra

India is one of the largest agriculture-based economies in the world. However, even after such a long-standing history with agriculture, many issues still plague the entire industry. In addition to these issues, we have seen a record-breaking number of distressed farmers and suicides due to debts and other such issues. However, these debts and issues are only a manifestation of a broken system that preys on the ones at the end of the chain, which more often is farmers.

We propose a 3-pronged solution to the issues of the industry.

  1. Insurance Claims w/ Terra

    • We know that insurance schemes for farmers exist, either via the Government or other parties. However, the important thing to note is that all insurance claims take a lot of paperwork and know-how to get your rightful sum at the end of the day.
    • This is a big problem for farmers, who are underpaid with respect to returns from their work and left without much help in tackling these bureaucratic tasks.
    • Solution: Using Blockchain technology and a decentralised system, we can automate the procedure of approval by using digital signatures, which are unique and non-reproducible due to the features of a DAPP and blockchain in general.

  2. Supply Chain w/ Terra

    • Another major issue is that even if consumers buy agricultural produce at high prices, the farmers are still paid meagre amounts. This happens due to lapses in the supply chain of the industry.
    • These lapses can look like various players in the supply chain hoarding supplies to raise demand artificially, without any accountability.
    • Solution: We plan on bringing the entire supply chain onto a digital platform powered by Blockchain Technology. This will allow for proper tracking of the produce, which is followed by accountability at each stage of the supply chain as everyone can view where the product is being held up. Due to the features of decentralisation, security and authenticity of the data, we can rest assured that the information is true and solve the problem with the supply chain.

  3. Latest Updates w/ Terra

    • Another issue with the agriculture industry is that the farmers are often not kept in the loop for various fluctuations of the market and otherwise.
    • Solution: We can solve this issue by setting up a notification system powered by blockchain to ensure legitimacy and relay information about the market, the selling price, the demand for various crops, and other such information to the farmers via a single platform, which will help them stay in the loop with the market.