The government of Tamaulipas, Mexico, adopted a blockchain-based software platform from GrainChain, McAllen, Texas, to help its farmers and grain elevators. The state-sponsored initiative will focus on commodity management and settlement.
The GrainChain initiative will integrate with the majority of existing grain elevator equipment, using GrainChain Internet of Things (IoT) products to digitize and automate all of the manual processes and workflows used by farmers and grain elevators to certify inventory, settle invoices and report to the agricultural stakeholders in real time.
"We are bringing the newest technology to the ag ecosystem here in Mexico," says Luis Macias, chief executive officer of GrainChain. "Working together with public officials and private entities is the catalyst to bring this region to the forefront of technology, transparency and efficiency."
Through its suite of blockchain-based and IoT products, GrainChain improves efficiency, creates complete transparency and reduces human entry errors throughout the state. The commodities' measurements – such as quantity, quality and humidity – are captured by one of GrainChain's products and applied to their appropriate inventory, which enables immediate contract settlement.
GrainChain's products give farmers access to their commodities via mobile apps, enabling them to see their inventory in real time and giving them the ability to make decisions on the field.