EcoChain

About EcoChain


EcoChain uses blockchain, which is essentially a collection of data in which “blocks” of data are chronologically stacked in a chain and distributed amongst everyone in the network. We will use this technology to connect tobacco farmers directly to the buyers that need the product. This happens via digital smart contracts as farmers will be able to record the orders, prices, and other information and send the contract to the buyers. Thus, while many companies serve as the middleman between the sellers and buyers in the tobacco industry, we get rid of the third party because the middleman usually deprives farmers and buyers of a fair price.


1) It enables trust between the two parties as they are able to negotiate the prices fairly according to the amount and quality of the product. Additionally, transparency of data is possible because the platform records all the information in different blocks. These blocks can be seen by anyone in the network, which is useful in terms of looking at past transactions to see the individuals that are most credible.


2) These blocks are secure and no one will be able to tamper with the information because the blockchain database isn’t stored in any single location, meaning no centralized version of this information exists for a hacker to corrupt.


3) Through the platform, the farmers will also have the ability to access the global supply chain. Since everything is digitized, farmers from Africa can connect to cosmetic companies using tobacco in America. Farmers will not be limited to their own regions, showing that the innovative platform will revolutionize the capabilities of smallholder farmers.


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