STATE OF TAMAULIPAS, Mexico, May 2, 2019 /PRNewswire/ -- GrainChain, a software platform that creates blockchain and internet-of-things (IoT) innovations for the agricultural industry, announced that the government of Tamaulipas, Mexico has adopted the GrainChain Suite in an initiative to help its farmers and grain elevators. The state-sponsored initiative will focus on commodity management and settlement.
Tamaulipas' GrainChain initiative will integrate with the majority of existing grain elevator equipment, using GrainChain IoT products to digitize and automate all of the manual processes and workflows used by farmers and grain elevators to certify inventory, settle invoices and report to the agricultural stakeholders in real time.
The Secretary of Rural Development for Tamaulipas, Ariel Longoria Garcia, kicked off the initiative with a visit to a grain elevator for a live demonstration of GrainChain's platform. Garcia also discussed plans to expand GrainChain to other facilities in San Fernando, Valle Hermoso, Rio Bravo and Altamira.
"We are bringing the newest technology to the ag ecosystem here in Mexico," said Luis Macias, CEO of GrainChain. "Working together with public officials and private entities is the catalyst to bring this region to the forefront of technology, transparency and efficiency."
GrainChain, through its suite of blockchain-based and IoT products, improves efficiency, creates complete transparency and reduces human entry errors throughout the state. The commodities' measurements – such as quantity, quality and humidity – are captured by one of GrainChain's products and applied to their appropriate inventory, which enables immediate contract settlement.
GrainChain's products give farmers access to their commodities via mobile apps, enabling them to see their inventory in real time and giving them the ability to make decisions on the field.
GrainChain's innovative platform using blockchain, IoT and advance logistics systems expedites agricultural settlement payments to farmers and suppliers while providing the immediate availability of tradable commodities to buyers.