Philippines – Agrinurture Inc. adopts Blockchain technology for everyone in its contract. On another note, Paul Krugman, a Nobel Prize-winning economist, warns about the probability of a recurrent winter for projects.
ANI or Agrinurture Inc. intends to adopt Blockchain technology for everyone, including contract growers, as per Antonio Tiu, the chief executive officer (CEO) and chairman. Tiu commenced an exploratory process over two years to determine and learn which Blockchain is the ultimate for Filipino farmers. Throughout the exploratory process, he stumped and evaluated Blockchain techs worldwide.
Tiu stated that he would mint the Agritoken, a stablecoin, on Blox in a closed-loop ecosystem for lending support and payment to farmers to offer lower interest rates instead of traditional micro funding options.
The company plans to adopt Blockchain technology to guarantee that growers borrow sensibly and utilize the stablecoin to fund allocated inputs and services, like seedlings, fertilizer, post-harvest equipment, and pesticide. It prevents the farmers from redirecting funds to non-essentials.
Tiu said that his goal with the closed-loop concept is to strengthen the life of all Filipino farmers through funding inclusion. I want to attain comprehensive growth for the underserved and unserved to be able to go out of the cycle of liability traps by loan sharks. These farmers can grow and develop their farming process and improve the value chain in the farming sector.
ANI began its small business operations in 1997 as a trader, importer, and fibber of post-harvest agricultural machines to enhance productivity and boost the farmers’ profit.
ANI was the first to introduce the “Mega-Sun” brand to the Philippine market, a grain dryer, after establishing itself as a reliable local supplier and manufacturer of rice mill equipment and transporter systems. It expanded to different agro-commercial enterprises, precisely focusing on the Philippine carabao mangoes’ export trading as the primary income stream.
On the other hand, Paul Krugman, an economist, warned people in the Blockchain and crypto industry about the forthcoming eternal cryptocurrency winter for Bitcoin and other digital asset networks since these are Blockchain-based projects. The economist examines the utility of this technology and how the signs exist to predict the downfall.
Krugman disapproves of the real utility of the technology when other integrated alternatives presently operate quite well. Krugman described his disbelief, questioning why they must experience the troubles and hassles of keeping a ledger.
There have been some signs of desertion coming, as per Krugman. He cited the last write-off that some companies, like the Australian Stock Exchange and Maersk, had about their projects under Blockchain.