Ripple and Mercy Corps Ventures launch a blockchain pilot using the XRP Ledger for 300 Colombian smallholder farmers aiming to increase incomes and financial inclusion.
Initiative addresses barriers in rural agriculture through digital records and deferred payment models like the 'Farm Now, Pay Later' (FNPL) to help farmers obtain credit.
The pilot promotes inclusivity with 46% female participation, surpassing national averages, and aims to improve product traceability, transparency, and sustainability in the agricultural sector.
This blockchain initiative not only benefits the participating farmers but also offers a replicable model for agricultural communities worldwide, driving financial inclusion and sustainable economic growth.