The agricultural company (ANI) will adopt blockchain technology for all its contract growers, according to its chairman and CEO Antonio Tiu.
To understand and determine which blockchain would be best for Filipino farmers, Tiu undertook a discovery process of over two years, during which he surveyed and reviewed blockchains around the globe.
He added that he will mint the Agritoken stablecoin on BLOX in the closed-loop ecosystem to support payments and loans to farmers, offering lower interest rates than traditional microfinance options.
What’s more, blockchain will be used to ensure farmers borrow responsibly and use stablecoins to fund only specified inputs and services such as fertilizers, seedlings, pesticides and post-harvest equipment. This prevents them from diverting funds to non-essential items.
“My goal of this closed-loop stablecoin concept is to uplift the life of every Filipino farmer through financial inclusion. I hope to achieve inclusive growth for the unserved and underserved population so that they can escape the cycle of debt traps set by usurers. Via In doing so, they can develop and expand their farming operations and ultimately move up the value chain of the agricultural sector, Qiu said.
ANI started its business operations in 1997 as an importer, trader and manufacturer of post-harvest agricultural machinery to increase productivity and increase income of Filipino farmers.
It was the first to introduce the “Mega-Sun” brand of grain dryers to the Philippine market and has since established itself as one of the more reliable local suppliers and manufacturers of conveyor systems and other rice milling equipment.
ANI eventually diversified into various agro-commercial businesses, with a particular focus on the export trade of Calabao mangoes from the Philippines as its main source of income.