A project carried out by Wageningen University & Research with the World Bank and the Haitian government has laid out how blockchain technology can contribute to a fairer trading system for the nation's fruit growers.
In a project financed by the World Bank, Jan Brouwers (Wageningen Centre for Development Innovation), René Oostewechel (Wageningen Food & Biobased Research) and Yves-Laurent Régis (Haitian government) worked together to find improvements in the supply chain that would provide better prices for farmers.
Oostewechel explains that a blockchain creates a different trading system: “If you look at mangoes, there are now five large trading parties that buy the fruit from the farmers for low prices at a collection point and export to the US."
"With blockchain technology, the role of exporters changes to that of service providers: the farmer remains the owner and is paid after the products have been sold in the US, minus the costs and fixed margins for intermediaries. Blockchain guarantees that the process is transparent and secure, resulting in a much higher market price for the farmer."
Photo source: Dreamstime.com