Thailand’s Trade Policy and Strategy Office (TPSO) is set to launch a blockchain-based project for agricultural exports. 

Around 5,000 farmers in the northeastern province of Surin will participate in the project, which will monitor the export quality of agricultural products.

Collaboration with Blockchain Experts, Financial Institutions

TPOS Director-General Pimchanok Vonkorpon said the project will officially start as soon as budget allocations for fiscal year 2020 are provided, and the office will hold discussions with blockchain experts, relevant authorities and financial institutions. 

“We expect that the project will start in the middle of the next year, and if successful, we will extend it to other agricultural products,” Pimchanok said in her official statement. “We have already talked to farmers and some 5,000 growers from Surin province will participate in the project.”

Using Blockchain to Ensure that Crops Meet Export Standards

The blockchain system will deploy a camera in the paddy fields to track the growth of the crops. The system helps to ensure that the crops are grown organically and the place of cultivation is displayed on the package.

The system will also assure farmers that their crops will not be rejected on grounds of adulteration while expanding opportunities in the global market for them. The value of Thai agricultural exports is expected to increase with the utilization of blockchain for the sector, according to Pimchanok.

Thailand is a leading producer of organic rice with 16,500 tons exported in 2018.

Source: www.cryptonewsz.com

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