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The Farming Token
Providing infrastructure & resources to 700 million unbanked farmers in Africa, enabling them to increase production quantity and quality
Ensuring efficient and regulated infrastructure for commodity ecosystems: FarmCoin has been designed and funded with the support of strategic blockchain private equity investor Swarm Fund, and has been launched by Food Asset Coin Eco-System (FACES), a joint venture between Block Commodities and FinComEco (a subsidiary of GMEX Group). The venture’s purpose is to sponsor the development of commodity ecosystems, using tokens (from third-parties initially) as currency for transactions.
The primary focus of the token is financial inclusion and social responsibility. Providing resources to the 700 million unbanked farmers in Africa, the project will maximise production by leveraging existing infrastructure; providing security and regulation to eliminate corruption; and reducing costs so that farmers are able to increase output beyond what is needed to feed their families.
FarmCoin will enable improvements to be made along the entire supply chain, including:
Access to education & solar energy
Technology (e.g. big data collection, blockchain, irrigation)
Infrastructure improvements will enable increased farming output levels, allowing farmers to produce more than just what is necessary for themselves.