A Singapore startup that has developed a blockchain-based platform to connect farmers with global markets has turned to SAP’s S/4 Hana Public Cloud for its digital core.
Called CrowdFarmX, the startup will use smart contracts to connect farmers directly with wholesale distributors and retailers, helping them to gain a greater cut of the selling price.
Like many other food supply chain related blockchain platforms, CrowdFarm X’s platform will provide visibility of the agricultural supply chain to ensure food safety.
The startup will also equip farmers with technology knowhow, including the use of data analytics and internet-of-things (IoT) irrigation monitoring systems, to deliver higher-quantity and quality yields, potentially increasing net yield by up to 10 times and contributing towards global food sufficiency.
On the role of S/4 Hana Public Cloud, CrowdFarm X founder and CEO David Tan said the cloud-based suite will deliver “an intelligent and intuitive digital backbone that supports us to have more complete visibility of the supply chain and supports rapid scalability”.
Further, the startup will make use of the software’s enterprises resource planning (ERP) capabilities, from production planning and management of sales and distribution, to procurement and financial control.
The implementation is expected to go live in December 2018.
CrowdFarm X aims to attract 10 million Southeast Asian farmers to its platform in the next 22 years, starting with an initial goal to sign up 1,000 farmers in a pilot phase by 2020.
Its targets are bold, given that many supply-chain related blockchain applications are not yet proven in the market, along with the low technology adoption rates in the agriculture industry in Southeast Asia.
That said, the startup seems to have made some headway, having roped in partners to set up CrowdFarmX Food Cradle farming facilities in Indonesia, Thailand and Cambodia, with Myanmar and Vietnam in the pipeline.