Traxion, blockchain-based financial services provider, offers blockchain technology to Filipino farmers, with the goal of changing the way they do business.
Traxion, Blockchain-based financial services provider, said it is introducing blockchain technology in the south Mindanao island in the Philippines that will allow people to receive their salary safely using wallets electronic.
The managing director of TraXion Ann Cuisia explained in a recent event:
"Involving owners of agricultural land, they can use the QR code.The QR code will be their e-wallet and can be used in cashless transactions, they can also cash it out through the "bayad" centers [payment]. "
The digital wallet, explained Cuisia, would give farmers the opportunity to receive their wages without carrying a substantial amount of money.
"Imagine being underdeveloped able to experience inclusiveness as far as financial services are concerned Imagine that farmers are accessing fair prices without intermediaries, profitability would be different, the type of livelihood would be high. become the first and never the last in the value of the chain, we can promise ", he added.
Cuisia assured farmers that blockchain technology is not as complicated as most people think and could be accessible even in remote inland areas. In fact, technology should be seen as an opportunity for farmers to store information and transactions and share data to promote transparency, traceability and integrity.
TraXion is currently working with more than 600,000 sari-sari stores across the country to encourage them to use blockchain when dealing with farmers.
Most Filipino farmers have no bank accounts, partly because they are reluctant to go to banks because they are usually not well dressed and only wear slippers. But with blockchain, TraXion aims to encourage the sub-sector to be served by financial institutions.
In a statement, TraXion said it will show the benefits of blockchain through the Consumer Farm to Table app. The company is developing IFarms, a mobile app for farmers, producers, consumers (hotels, restaurants or even families). This application is intended to eradicate the intermediary. Consumers can directly order the harvest from farmers and producers, and at the same time farmers can receive payments on time and manage their harvest efficiently.
From the north, the Authority of the Economic Zone of Cagayan (CEZA) – a government economic zone in the northern part of the Philippines – announced at the beginning of this month that would create a $ 100 million cryptocurrency and a blockchain hub to challenge Switzerland Crypto Valley.
The Filipino version of a crypto-valley is seen to generate more than 10,000 jobs in the business process outsourcing sector.