Oxfam, a confederation of charitable organizations, has officially launched BlocRice, a Blockchain based program that aims to empower farmers by giving them better negotiating power and; connect the buyers and suppliers ensuring a robust supply chain system.

The main goal of the program is to escalate revenues for farmers by letting them form agricultural cooperatives similar to labor unions. As a result, this will ensure that the prices of the agriculture products vary across the board.

Solinn Lim, the country director of Oxfam in Cambodia, has claimed that the initiative will encourage the execution of smart contracts between organic rice producers and exporters in Cambodia, and buyers in the Netherlands.

BlocRice will reduce the need of any third party as suppliers and buyers will be able to communicate and transact directly through the platform. The payment will be cashless which will be directly transferred to the accounts of the farmers. Lim has confirmed that the blockchain based system will enable the tracking of rice providing an additional layer of trust on the system.