Blockchain Firm Nucleus Vision, ICRISAT Partner To Bring Blockchain Benefits To Farmersbr>
Founded in 2014 at Harvard University, Nucleus is a blockchain and Internet of Things (IoT), contactless identification system, using nCash cryptocurrency to enable transactions across the retail ecosystem. Nucleus is an end-to-end technology solution that captures and provides previously un-accessed data to retailers and other ‘brick and mortar’ businesses through its proprietary blockchain and real-time sensor technology.
Headquartered in Hyderabad, India, ICRISAT is an international organization which conducts agricultural research for rural development. Since its inception, the Indian government has granted a special status to ICRISAT as a UN Organization operating in the Indian territory, making it eligible for special immunities and tax privileges.
The two parties will work together and will leverage blockchain technology to spearhead agricultural development and provide a better livelihood for farmers, while eliminating waste and improving transparency. By taking advantage of Nucleus Vision’s proprietary blockchain protocol, ICRISAT will aim to achieve its vision of a food secure world.
Abhishek Pitti, Founder and CEO of Nucleus Vision, said that blockchain will improve visibility of movement of produce from farm-to-fork by keeping a record of all the information starting from seed procurement to harvest to sale at POS system. He added that the technology will help producers and consumers in quantifying, monitoring, and controlling the risks which cause much distress in India.
“We at Nucleus Vision measure our success by the impact that we create in everyday life,” Pitti said. “To be part of enabling greater efficiencies in a 60 percent agrarian economy like India, through ICRISAT, is a dream come true for us. We will be working tirelessly on this partnership in the coming months to change lives through blockchain innovation.”
Ramkiran Dhulipala, Strategy and Operations Officer, Director General’s Office at ICRISAT, said that traceability aided through blockchain has the potential to address many issues in the agriculture value chain from farm to fork.
“We are excited to partner with Nucleus Vision on its new blockchain protocol and look at farm innovation and farmer productivity,” Dhulipala said.