Ripple partners with WËIA and Mercy Corps Ventures to launch a pilot program in Colombia aimed at reshaping agricultural finance and traceability using blockchain technology.
The initiative, powered by XRP Ledger, is set to impact 300 farmers by providing transparent supply chain solutions and innovative financial tools like a 'Farm Now, Pay Later' model.
The program leverages WËIA's platform for end-to-end tracing of panela production, offering QR codes for product origin assurance and creating new opportunities for transparent sourcing practices.
The pilot aims to address financial inclusion challenges faced by small farmers in Colombia by improving traceability, enhancing market prices, and preventing food fraud through blockchain technology, with potential for scalability to other regions.