Cambodian Rice Exporter Taps Blockchain for Better Supply Chain Management
In a bid to promote transparency in the Cambodian rice industry, and set measures in place to mitigate the sufferings of farmers in the region, Schuttelaar and Partners (SP) and Amru Rice are associating on a blockchain project dubbed BlocRice. As per sources close to the development, the team sent out a successful blockchain pilot for BlocRice earlier in 2018. It upscaled the platform in 2019 to include more farmers and allow participants to access customers directly.
Prominently, the BlocRice project is intended to significantly enhance Cambodian rice farmers’ livelihoods and make it feasible for them to live within the desired income benchmark of EUR 4,500.
Making it Work
Amru Rice intends to develop three blockchain-based applications to manage supply chain traceability, sales, logistics, and more. Particularly, the first BlocRice DLT app will allow farmers to bypass the middlemen and trade their products undeviatingly to online sellers. Farmers will also be capable of tracking their yields and achievement through the app.
The team states the second blockchain app will support farmers take care of their logistics, product tracing, and transaction forecasts seamlessly. In contrast, the third app will concentrate on supply chain transparency. The app will allow customers to observe the entire product life cycle and the exact product prices for each transaction between all entities in the supply chain.
To tackle the issue of poverty amongst Cambodian rice farmers, the team states it intends to enhance the amount growers earn from their rice, plus other farm produce, while also including intercropping methods for better agricultural yields.
While blockchain technology is witnessing massive adoption in the global economy’s financial sector, a good number of actors have also embraced the burgeoning technology for supply chain traceability. Earlier in June 2020, a top U.S. coffee manufacturer integrated DLT into its coffee supply chain.