What Is Agricoin (AGX)?
Agrichainx is an enterprise-driven blockchain-based platform for the agriculture sector. The network seeks to allow farmers to trade their crops directly with retailers, hotel industries, consumers, supermarket chains, etc., without depending on the traditional multilevel distribution structure. Every farmer is registered on the platform using biometric verification and allotted a unique meta ID. Users can also preserve their crops using a brick-and-mortar cold storage and warehouse network. Agrichainx uses blockchain technology that aims to give a digital approach and the necessary industry knowledge to distribute to farmers and businesses.
According to the whitepaper, the Agrichainx ecosystem seeks to offer multiple features such as:
All the transactions are fully encrypted on the blockchain for protection, making the process secure and hacking-resistant.
Direct deals between producers and food retailers/processors are enabled 24/7 without intermediaries.
Integrated cryptocurrency wallets manage all the transactions across various decentralized applications.
A combination of Big Data, IoT, and the blockchain is used to build a reliable, efficient, and secure platform.
The network provides decentralized and trusted applications within a single platform that serves farmers, supermarkets, SMEs, processors, and daily users.
Agrichainx Operational Model aims to include:
Agrictrade is an online marketplace that connects farmers from trade networks to buyers. This marketplace builds direct business tie-ups between farmers, cold storage providers, retailers, transporters, and consumers.
Agricfinance is a micro-finance scheme for smallholder farmers. This scheme makes grassroots financing like crowd farming, lending, and savings while supporting farmers financially.
Agricmarket is an e-commerce marketplace that enables fair trading possibilities by supporting various business models that trade products and services.
Agricdata is the farmer's digital form of all the details related to the farmers stored in the IPFS. These digital data and identities are used to validate and verify smart contracts.
Agrichain is a supply chain architecture that monitors and tracks crops from the start to when they are sent to retailers or consumers.
AGX is the official token of Agrichainx's ecosystem. This is an ERC20 standard-based token, and the purpose is to simplify the financial operations on the Agrichainx platform. This digital token can be used to carry out transactions between participants, set up smart contracts for contract farming, check farmers' sign-up on the platform, rent warehouses and cold storage spaces, and more.
Agrichainx Wallet aims to be a secure, transparent, and simple digital way to transact. This digital purse seeks to make it simple to transact with counterparties.