FoodCoin announces a formal partnership with Bitland Global, who aims to provide services to allow individuals and organizations to survey land and record deeds onto the Bitshares blockchain. Chris Bates, 10XTS team member, is the chief security officer of Bitland Global.
FoodCoin Ecosystem is a blockchain ecosystem, architecturally designed to create a global marketplace of food and agricultural products based on their experience with the active 1000 EcoFarms platform. FoodCoin Ecosystem will be based on the Ethereum technology.
FoodCoin gives local food businesses a great opportunity to grow and overcome obstacles that frequently push them out of the market. Among these obstacles are expensive certification, registration, delivery and marketing. Under such circumstances, small-scale farmers are unable to offer high quality and natural products at consumer-friendly prices. As a result, most people eat food from the supermarkets.
There are another issue to consider, which require different approaches. Namely, inadequate protection of property rights. Without protection of land use rights and reliability of transferring those rights, people have fewer incentives to invest their time, energy and money into the properties that they inhabit and use. This is a serious problem for many African countries.
The corruption takes various forms. When the government is corrupt or powerless, it is difficult to enforce laws regarding property ownership, real estate, and construction, using of false or forged documents and illegal confiscation of personal property. Many farms and mining operations run illegally, and in the process become much more damaging to the local ecosystem.
Chris Bates believes that the cooperation will make each other’s work more efficient, and their long-term achievements stronger.
“FoodCoin was a great partnership opportunity to build an ecosystem around farm to table supply chain tracking. Since Bitland has a system that uses the Cadastral token to track land registrations, forming a partnership with FoodCoin makes it much easier for blockchain powered supply-chain tracking. We are working to have a system in which Bitland-registered farms would be able to have consistent updates concerning what nutrients are used, photos/videos of the farm, data of yields, etc…”, said Bates about the partnership.
The combination of organizations’ efforts will create a much more transparent farming ecosystem in which illegal/illicit farming is not preferred because the legal farmers will be making more money while the community will directly see the benefits. When the legal methods of farming become more profitable than the illegal methods, it will not take much convincing to get farmers to follow the rules. As well, if the farmers are following the rules, the government will be getting more taxes and a higher GDP.
It is through establishing transparency and mutually beneficial systems that Blockchain technology creates an “everyone wins” scenario, and this is the strong reason for Bitland to cooperate. We want to accelerate the implementation of the technology, and cooperation is the path of least resistance.”
New technologies and a joint effort of people who are deeply encouraged can fight the challenges, which even the strong governments cannot fight. To learn more about the Bitland Global project, visit their official website: http://www.bitland.world