Agritech company launches blockchain-based digital currency

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Founder says service will streamline trade inefficiencies and broaden access to quality crops worldwide.

A NEW payment technology is being introduced to work in tandem with an online marketplace platform that seeks to provide easier trading for those working within the potato supply chain.

From September 27th AgriDex, an end-to-end supply chain platform and marketplace for the global food and agriculture industry, will be issuing Fiat-on-Chain™  in GBP, Euro, and USD. Fiat-on-Chain™ has been made available by blockchain-based operating system L3COS.  

The companies say FoC is 100% cash collateralised digital currency which, when used with the platform, will provide frictionless trade for all agricultural industries. It will be available for purchase on AgriDex’s website and L3COS’ exchange platform.  
  
From launch, members of the digital assets marketplace will be able to use Fiat-on-Chain™ and begin transactions.  

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Through its digital platform and economics, AgriDex allows all members of the supply chain to trade and track products via a dashboard that provides a real-time view of their agriculture trade deals across markets and individual contractors. The platform also allows for all deliverables to be traced from their origin to a buyer’s warehouse in real time with verified certification at every step of the chain, according to a joint press release issued by the companies involved. 
  
AgriDex founder Svetlana Fialova said it seeks to streamline the inefficiencies of agricultural trade and broaden access to quality produce worldwide.

She said: “Blockchain in the agricultural sector are few and far between, especially since most focus on one market segment or address a specific issue or task within the value chain. They are niche and fragmented, with no one providing a one-stop shop for the whole market. That is where AgriDex comes in, and why we are so excited by the opportunity to create an ecosystem where regulators, suppliers and consumers can all liaise and trade in the spirit of cooperation and co-dependency.”  

Image: Geralt

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