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Riyada Group, a diversified conglomerate of Bahrain, is working with AVC Global, a Washington-based agricultural supply chain company, to develop a new agricultural supply partnership in Africa.
Recently I had the opportunity to speak briefly with Sergey Tsvetkov, Executive Vice President of the Riyada Group and co-founders of AVC Global, Leo A. Giacometto and David Todd, to learn about their new adventure.
What were the original motivations behind this collaboration?
Sergey Tsvetkov: When the founder of the Riyada Group, Shah Shaikha Dheya of Bint Ebrahim Al Khalifa and I examined the facts and the approach of AVC, we saw the opportunity to collaborate with AVC on something really profound, that will supply agricultural products from Africa and from Asia to the Middle East. & Nbsp; We also believe that Bahrain and the Riyada Group are positioned to be the main founding partner in this supply chain project.
This project was in R & amp; D intense for over a year and has just come out of the stealth mode. We are developing and implementing an end-to-end agricultural distribution chain and a cohesive distribution network, complemented by innovative supply chain financing and an infrastructure development fund. & Nbsp; The technology platform will develop and incorporate a distributed ledger, distributed applications, Internet of Things, artificial intelligence and smart contracts ".
David Todd: The convergence of market forces and the power of a well-designed and executed strategy are creating generational opportunities to design, build and launch sustainable, socially responsible and healthy food ecosystems. & Nbsp; Working with Riyada, this project has immediate traction and scalability, as well as access to & nbsp;Bahrain FinTech Bay& nbsp; for innovation and product development. We also believe that socially responsible African farmers who work with small producers will adapt perfectly to the needs of the market and our model of sustainability and growth, in particular with the transparency and trust allowed by our supply chain financing model. of social impact.
Leo Giacometto: Initially we discussed this project with ECOWAS officials and our long-term goal is to build a global supply chain financial and supply chain ecosystem with many far-reaching participants, including millions of small farms who work in the framework of organized agricultural producer organizations (Co-ops), mid-level farms and a host of different processing providers and large multinationals in the food sector and financial operators. By developing a truly distributed value chain, operating under a "blockchain network" model, we believe we can best achieve the project objectives. When we have added all this, Bahrain is the ideal place, a hub of opportunity to launch this project towards success.
Our consultant Boris Revsin of the blockchain consulting firm, Games Theory Group, he says it better: "In any emerging sector, there will be companies that push the envelope towards technology or companies that are solving the problems of the real world.AVC stands out for having the opportunity and the knowledge to do both what's this. "
Leo Giacometto: Let's take a look at the facts: a growing global population requires that the annual agricultural supply market of $ 8.7 billion increases by 70% by 2050. & nbsp; This represents over $ 180 billion a year in a new market demand that needs to be met. & Nbsp; This can not be filled without African farmers and agricultural products that specialize in cultivation. & Nbsp; To meet this need, leading multinational and innovative food companies recognize that over 500 million small farms in the world must integrate into global agricultural supply chains with special attention to Africa and India .
As we discussed, our supply network is initially created in India and then applied to the multitude of emerging African markets that can help meet market demand if they have next-generation infrastructure and supply chain funding that this project It is designed to provide.
Contact me by email at [email protected] or on Twitter @MfonobongNsehe
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Blockchain, Network Server, Technology, Bitcoin, BiometricsGetty
Riyada Group, a diversified conglomerate of Bahrain, is working with AVC Global, an agricultural supply chain company based in Washington, to develop a new agricultural supply partnership in Africa.
Recently I had the opportunity to speak briefly with Sergey Tsvetkov, Executive Vice President of the Riyada Group and co-founders of AVC Global, Leo A. Giacometto and David Todd, to learn about their new adventure.
What were the original motivations behind this collaboration?
Sergey Tsvetkov: When the founder of the Riyada Group, Shah Shaikha Dheya of Bint Ebrahim Al Khalifa and I examined the facts and the approach of AVC, we saw the opportunity to collaborate with AVC on something really profound, that will supply agricultural products from Africa and from Asia to the Middle East. We also believe that Bahrain and the Riyada Group are positioned to be the main founding partner in this supply chain project.
This project has been in intensive research and development for over a year and is now coming out of stealth mode. We are developing and implementing an end-to-end agricultural distribution chain and a cohesive distribution network, complemented by innovative supply chain financing and an infrastructure development fund. The technology platform will develop and incorporate a distributed ledger, distributed applications, Internet of Things, artificial intelligence and smart contracts ".
David Todd: The convergence of market forces and the power of a well-designed and executed strategy are creating generational opportunities to design, build and launch sustainable, socially responsible and healthy food ecosystems. Working with Riyada, this project has immediate traction and scalability, and we have access to Bahrain FinTech Bay for innovation and product development. We also believe that socially responsible African farmers who work with small producers will adapt perfectly to the needs of the market and our model of sustainability and growth, in particular with the transparency and trust allowed by our supply chain financing model. of social impact.
Leo Giacometto: Initially we discussed this project with ECOWAS officials and our long-term goal is to build a global supply chain financial and supply chain ecosystem with many far-reaching participants, including millions of small farms who work in the framework of organized agricultural producer organizations (Co-ops), mid-level farms and a host of different processing providers and large multinationals in the food sector and financial operators. By developing a truly distributed value chain, operating under a "blockchain network" model, we believe we can best achieve the project objectives. When we have added all this, Bahrain is the ideal place, a hub of opportunity to launch this project towards success.
Our consultant Boris Revsin from the blockchain consulting firm Game Theory Group says it best: "In any emerging sector, there will be companies that push the envelope to technology or companies that are solving the problems of the real world." AVC stands out to have the opportunity and the knowledge to do both. "
Leo Giacometto: Let's take a look at the facts: a growing global population requires that the annual agricultural supply market of $ 8.7 billion increases by 70% by 2050. This represents over $ 180 billion l & # 39; year in a new market demand that must be met. This can not be filled without African farmers and agricultural products that specialize in cultivation. To meet this need, leading multinational and innovative food companies recognize that over 500 million small farms in the world must integrate into global agricultural supply chains with special attention to Africa and India .
As we discussed, our supply network is initially created in India and then applied to the multitude of emerging African markets that can help meet market demand if they have next-generation infrastructure and supply chain funding that this project It is designed to provide.
Contact me by email at [email protected] or on Twitter @MfonobongNsehe
