Secure Agric, a Nigerian agriculture value chain company has got on board with India Blockchain Alliance, a leading think-tank on emerging technologies to strengthen its efforts in revolutionising the Nigerian agriculture ecosystem.
Secure Agric (SA) which has made a mark in organizing farmer groups, evangelizing technology and introducing modern methods had embarked on an ambitious plan to create a future-ready value chain leveraging technology. This value chain aimed to enable farmer payments from the government sector and the business entities to be secured and transparent. Its plans to usher in a new era of purpose driven agricultural practices that are sustainable across the entire value chain and could track each farmed entity from source to the consumers table.
Mr Ismail, CEO – Secure Agric was speaking to the leading global companies which could bring in the requisite technology, best practices and domain expertise to assist realizing its vision. India Blockchain Alliance (IBA) agreed to be on board to strength Secure Agric’s profile, competencies and board depth. Both sides have signed the MoU that shall bring cutting edge blockchain expertise and competencies to Nigeria.
IBA with its strong advisory board has demonstrated its presence and value in rebuilding traditional business models with emerging technologies as blockchain. Within agriculture, it has been involved in seminal projects in supply chain trust systems for cashmere farmers in Mongolia, Increasing the productivity and sustainability of livestock and dairy products produced in forested areas of the Ecuador’s Amazon provinces through blockchain-based registry to link forestry-related conservation projects to results-based payments and carbon markets complemented by IoT devices and geospatial technologies
According to the Information by TechiconNG, the main benefits of decentralizing supply chain management using distributed ledger technology and blockchains include traceability and transparency; real-time tracking; faster transactions; smart contract technology that eliminates fraud and error and provides more secure environment for data; reduced carbon footprint by minimising returns of goods which contribute to global carbon emissions. Further, Improved logistics contributes to more efficient shipping and storage, and therefore greener and cheaper transport systems by cutting middlemen. It also reduces food waste. Consumers are empowered as they know more about the supply chain behind what they eat.
The global blockchain in agriculture and food supply chain market was valued at USD 41.2 million in 2017 and is projected to reach USD 429.7 million by 2023, at a CAGR of 47.8% according to MarketsandMarkets.
The MoU also includes the conceptualization and realization of an ICO in the course of the project.
This agreement ushers in a new era in Nigerian Agriculture landscape with assurances of progress, prosperity and future-secure self-reliance.
Mr Ismail said “As someone from the farming background, I have over 10 years of experience in agriculture. The way we practice agriculture, is the same way our fore-fathers practiced and that is why we cannot prove as to whether agriculture is a sustainable way of life in Nigeria & Africa at scale. At Secure Agric, we have tested several models within the agricultural value chain, and engaged with over 100,000 farmers for the past 2 years and the answer is always the same, which is (Technology). Technologies like blockchain, artificial intelligence, IOT & drones hold the greatest potential of recreating the agricultural status quo in Nigeria and Africa.”
Secure Agric’s vision is to improve the lives of farmers by complimenting their efforts with AI and IOT solutions, and connecting them to buyers of their products using blockchain i.e. eliminating the middlemen, and make food affordable to low and average income households in Africa.
Financial inclusion, efficiency and affordability in telecommunication between farmers is also one of our major priorities.
According to The CEO, This partnership is not for Secure Agric but for the entire Africa as a continent, because the problems in the Africa agricultural value chain are inclusive ones, For this reason, Secure Agric is partnering with India blockchain alliance for an innovative and everlasting solutions.
In this regard, the CEO – Mr Ismail had a brief Meeting with DG NITDA, Mr Kashifu Inuwa on 17th September, 2020, which he was assured Mr Ismail the agency’s Support, and also Adopt the solutions coming from Secure Agric in the National Adopted Village for smart Agriculture (NAVSA) for a National Digital Agriculture.