Update: 07 October 2021 17:07 STI
New Delhi [India]October 7(ANI/NewsView): The Indian arm of one of the world’s fastest growing blockchain technology giants, Belgium-based SettleMint, today announced the successful completion of a pilot project with ITC Agri Business.
In the two years of commencing operations in the country, SettleMint has made significant progress and made rapid progress towards enabling blockchain adaptation in India and the pilot project with ITC Agri Business is a testament to this. .
Commenting on the project, Shazad Fatmi, CEO of SettleMint India said, “We were delighted to start our journey in the agricultural sector in India with the ITC Agri division with the pilot project. The importance and role of agriculture in India is significant and it is an honor to work closely with ITC Agri to bring the benefits and advantages of blockchain to the agricultural sector and to India.”
“Being one of the easiest and fastest blockchain solution providers in the world, we were able to lead the way in realizing the benefits of blockchain technology through this project. The incredible adoption of this technology in all sectors, worldwide, bodes well for India, as more and more sectors are likely to implement blockchain and reap the benefits,” added Fatmi.
ITC Agri Business is one of the leading national players and exporters of many agricultural products and its unique strength lies in the many backward links it has established with farmers. ITC’s Agri Business leadership position is rooted in its strong and enduring relationship with farmers across the country, which has revolutionized the agricultural sector in rural India.
“We are excited to work with SettleMint on this game-changing technology for the agri-tech sector. Blockchain will unlock high-resolution business datasets for the farming community, leading to accelerated and improved data sharing between upstream and downstream entities. and enabling the synchronization of value chains,” says Rohit Pajni of ITC – ABD.
Elaborating on some of the benefits of using blockchain for businesses working in agriculture, Fatmi said, “Linking sourcing and payments for commodities as well as supply chain integrations in upstream and downstream are some of the benefits that would enable end-to-end transparency in the value chain, especially with farmers across the country Visibility across the supply network, increased robustness, and guaranteed sustainable practices are some of the other benefits of blockchain for agricultural organizations.”
Additional information on SettleMint: www.settlemint.com.
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