08-12-2022, 10:38 PM
Algorand Foundation partners with Boston University to support African Farmers
<!-- SC_OFF --><div class="md"><p>A project providing blockchain-backed lending of tractors and farm equipment to African farmers is under way!</p> <p>​</p> <blockquote> <p>“The world faces a serious food shortage: we must increase food production by nearly 60% to feed the world’s population by 2050. We cannot do so on current technology, as most of the world's farmers rely on hand tools to plow their land. ,” explains Greenacre. “With support from the Algorand Foundation, Hello Tractor's blockchain technology can radically improve the lives of African farmers and, by extension, help feed our world. The team at Boston University is grateful to the support of Algorand Foundation and excited to begin working on this project.”</p> </blockquote> <p>​</p> <p>A worthy cause, but digging deeper what it seems Hello Tractor is setting up is a type of blockchain support for investors to help facilitate the purchasing of tractors. These tractors would then be lent/rented out to farmers in an affordable manner - eliminating the huge barrier to entry of purchasing mechanical equipment that can be $50,000-$100,000+ for entry-level equipment.</p> <p>​</p> <blockquote> <p>The new blockchain-based solution, termed ‘Tokenomics,’ will develop and protect information on all bookings and tractor activities of tractor owners, streamlining the entire digital ecosystem. Access to tokens will improve Hello Tractor’s current mobile and web app platform by creating incentives for farmers, tractor owners, booking agents, and investors to address the bottlenecks to access.</p> </blockquote> <p>​</p> <p>This is great, and shows a tangible benefit to farmers in Africa, and other developing countries. It's not just "blockchain make all better", it's applying something in one of the leading areas of technology to a current agricultural need. For anyone who has struggled to describe "what does cryptocurrency actually do" to someone, this is a very easy thing for a lot of people to grasp and relate to. Projects like these can directly increase the quality of life for many.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/arcalus"> /u/arcalus </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/wmmnuy/algorand_foundation_partners_with_boston/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/wmmnuy/algorand_foundation_partners_with_boston/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>A project providing blockchain-backed lending of tractors and farm equipment to African farmers is under way!</p> <p>​</p> <blockquote> <p>“The world faces a serious food shortage: we must increase food production by nearly 60% to feed the world’s population by 2050. We cannot do so on current technology, as most of the world's farmers rely on hand tools to plow their land. ,” explains Greenacre. “With support from the Algorand Foundation, Hello Tractor's blockchain technology can radically improve the lives of African farmers and, by extension, help feed our world. The team at Boston University is grateful to the support of Algorand Foundation and excited to begin working on this project.”</p> </blockquote> <p>​</p> <p>A worthy cause, but digging deeper what it seems Hello Tractor is setting up is a type of blockchain support for investors to help facilitate the purchasing of tractors. These tractors would then be lent/rented out to farmers in an affordable manner - eliminating the huge barrier to entry of purchasing mechanical equipment that can be $50,000-$100,000+ for entry-level equipment.</p> <p>​</p> <blockquote> <p>The new blockchain-based solution, termed ‘Tokenomics,’ will develop and protect information on all bookings and tractor activities of tractor owners, streamlining the entire digital ecosystem. Access to tokens will improve Hello Tractor’s current mobile and web app platform by creating incentives for farmers, tractor owners, booking agents, and investors to address the bottlenecks to access.</p> </blockquote> <p>​</p> <p>This is great, and shows a tangible benefit to farmers in Africa, and other developing countries. It's not just "blockchain make all better", it's applying something in one of the leading areas of technology to a current agricultural need. For anyone who has struggled to describe "what does cryptocurrency actually do" to someone, this is a very easy thing for a lot of people to grasp and relate to. Projects like these can directly increase the quality of life for many.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/arcalus"> /u/arcalus </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/wmmnuy/algorand_foundation_partners_with_boston/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/wmmnuy/algorand_foundation_partners_with_boston/">[comments]</a></span>