The post AgriDex is tokenizing trades for agriculture firm Parrogate appeared on BitcoinEthereumNews.com.

Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. Howdy!  I’m back and locked in after some good old midweek PTO in which I visited the Sierra Nevada brewery in North Carolina.  I had an IPA, a genre of beer which is much like native token airdrops for me in that I always think “this time could be different” but still end up disappointed. Anyways: AgriDex tokenizing trades for agriculture firm Parrogate AgriDex, a Solana-native platform for agriculture markets, has brought the Africa-based trader and agricultural producer Parrogate Group on as a partner, the team told Lightspeed exclusively. Using AgriDex will allow Parrogate to carry out agricultural trades — it’s invested in the edible oil and cotton industry over the last decade, according to its website — more easily and at a lower cost, AgriDex says. This is a new iteration on a years-old idea: putting parts of global supply chains on the blockchain.  AgriDex CEO Henry Duckworth grew up in Zimbabwe before later becoming a commodities trader dealing with cobalt, which is largely mined in the Democratic Republic of the Congo. Being up close with these countries, Duckworth saw how some combination of poor government, volatile currencies, underdeveloped contract law, and difficult trading environments made things challenging for farmers and suppliers, he told me in an interview.  “Normally what happens is you have to be your own banker, your own trader, and your own lawyer,” Duckworth said of making agricultural trades in the developing world. He added that this burden falls most heavily on “the smaller guys” in the agriculture world, because larger businesses can afford things like in-house legal teams. Farmers in places in the US don’t experience as much “friction” while trading goods, and a lot…

---

Filed under: News - @ August 15, 2024 6:21 pm