UAE - Mubasher: Dubai Multi Commodities Centre (DMCC) has launched the Agriota E-Marketplace platform, an advanced agricultural commodity trading and sourcing platform.
The platform benefits from blockchain to directly connect millions of rural farmers in India with the UAE’s food industry, including food processing companies, traders, and wholesales, according to a press release on Wednesday.
Jointly developed with India's CropData Technology, the platform helps Indian farmers to bypass intermediaries and enhance the supply chain.
The online marketplace provides end-to-end traceability through last-mile verification and extension infrastructure in a blockchain environment while ensuring secure transactions of funds by introducing a special banking system with a multi-tier escrow structure.
Through this marketplace, the UAE seeks to empower local communities, improve the quality of agricultural products, and expand the UAE's long-term food security.
The Executive Chairman and CEO of DMCC, Ahmed bin Sulayem, commented: "Harnessing the power of blockchain technologies within the commodity space is a top priority for DMCC, and launching Agriota is the next natural step in this journey."
Sulayem remarked: "The launch of an innovative model like Agriota will inch the UAE closer to the top of the Global Food Security Index."
