Oxfam, an international aid organization, announced BlocRice, a project to track the Cambodian rice supply chain using block chains.
Block Rice developed smart contracts to secure transparency and safety of supply chains between rice farmers and Dutch buyers. By 2022, the rice farm will be expanded to 5,000.
The objective of this project is to test the first producer, Cambodian rice export, European retailer trilateral digital contract and block chain technology, and raise farmers’ rights to supply life and rice. It is easy to know the producers and farmers can raise the price of rice more effectively, so it can prevent the economic situation from being adversely affected.
Oxfam expects Block Rice to promote similar smart contracts as a tool to improve socioeconomic status. It is also expected to increase bargaining power of small farmers who are poor primary producers within the US-centered value chain by incorporating the block chain technology. For more information, please click here .