India’s Jharkhand State to use Blockchain technology for seed distribution to farmers.
India’s cryptocurrency atmosphere has so far been pretty conservative with the government constantly trying to formulate restrictive measures against the advent of crypto. Crypto firms are also trying to be brought under a legally limiting ambit. The government is constantly sounding alarms about the risks and threats that crypto poses. The central bank RBI went so far as trying to initiate a ban on cryptocurrency just a few weeks back. They cautioned consumers about the perils of blindly entering the field of crypto.
Crypto Powers the Dreams of Eco Lovers
Changes seem to be on the horizon as a new crypto project with social development in mind has been started by a northern state in the country. This will see thousands of citizens in rural and suburban regions who make up a huge chunk of the agro-industry benefiting from the use of crypto technologies. So, not only does this bring the common man closer to Web3 tech, but it also helps them master the new-age digitalization of transactions. This new venture will seek to aid agriculturalists in the procurement of Agri goods, as well as their movement. It will also help in ensuring their authenticity and dealing with compensation should problems arise.
Agriculturalists Welcome Crypto
Other pros of this project are the openness with which transactions will be conducted in favor of agro businesspeople, optimal tracing of the entire delivery process, and speedy shipments. The fact that the Indian administration has personally green lit this venture is a step in the right direction for the future of the local crypto ecosystem. On one hand, it helps make the boom of cryptocurrencies more mainstream in the nation. On the other hand, it also empowers people in economically backward regions who are just now making the switch to smartphones.