Apr 5: Spices Board India under Ministry of Commerce and Industry andUNDP India’s Accelerator Lab today signed a Memorandum of Understanding (MoU), with the aim to build a blockchain based traceability interface for Indian spices to enhance transparency in supply chain and trade.
Blockchain is a decentralized process of recording transactions on an open and shared electronic ledger. This allows for ease and transparency in data management across a complex network, including, farmers, brokers, distributors, processors, retailers, regulators, and consumers, thus simplifying the supply chain. It will allow farmers just as all other members of the supply chain to access the information which further makes the entire supply chain more efficient and equitable.
UNDP and Spices Board India are working towards integrating the Blockchain Traceability Interface with the e-Spice Bazaar portal developed by Spices Board India for connecting spices farmers with markets.Design of the Blockchain interface is expected to be completed by May’21. The project will be piloted with over 3,000 farmers engaged in chilli and turmeric farming in select Districts of Andhra Pradesh.Disclaimer: We donot claim that the images used as part of the news published are always owned by us. From time to time, we use images sourced as part of news or any related images or representations. Kindly take a look at our image usage policy on how we select the image that are used as part of the news.