Farmers in Azpitia, Peru, and Chiapas, Mexico, are using blockchain technology to boost sustainable agriculture. This and more news in this handy daily digest so you're always up to date with the latest developments in the crypto world.
Peruvian pisco grape producers adopt blockchain technology
📍A group of producers from the municipality of Azpitia, in Peru, have adopted blockchain to ensure traceability in the cultivation of pisco grapes. According to a report by Peru's Agrarian News Agency, an agricultural production project involving blockchain technology is being carried out in the municipality of Azpitia.
Producers in the area are using blockchain to grow pisco grapes in a 100% organic way. The blockchain will guarantee agricultural traceability of the crop by keeping a detailed and immutable record of the entire production process. Thanks to the characteristics of the blockchain, producers can certify the use of organic fertilizers and pesticides that contribute to the care and preservation of the crop and the area, where the recovery of the bee population at risk of extinction is also being promoted.
The traceability offered by blockchain technology will also contribute to the value of the product while allowing consumers to validate and certify that they are truly purchasing a 100% organic product.
The agency notes that blockchain can have a positive impact on Peruvian agriculture, transforming current agricultural paradigms and practices.
EthicHub will finance coffee producers in Chiapas
📍Spanish startup EthicHub has launched a blockchain-based financing program for coffee producers. The project will benefit more than 400 coffee producers organized in the Anepaan O'Deput cooperative in the state of Chiapas, Mexico. To develop this new financing program, EthicHub has partnered with the global development organization Heifer Mexico.
Its director, Gustavo Maldonado, said local media reported that the collaboration between EthicHub and Heifer Mexico benefits small agricultural producers who have been excluded from the traditional financial system, so that they can boost the sustainability of their farms and agribusinesses.
EthicHub is a blockchain project promoted by a Spanish startup that provides financing to unbanked producers in various rural areas, including parts of Africa.
In the middle of last year, EthicHub announced a partnership with the blockchain Celo with the aim of building new tools to benefit rural communities. Regarding this alliance, Gabriela Chang, co-founder of EthicHub, recently highlighted that it is a blockchain “designed under environmental criteria.” Celo offers transactions at very low costs and is considered the first carbon-neutral blockchain in the world.
Taiwan to appoint FSC as official regulator of crypto industry
📍Taiwan's Financial Supervisory Commission (FSC) will be the regulatory body for cryptocurrencies. According to Bloomberg analysts, Taiwan will appoint the FSC as the official regulator for the cryptocurrency industry later this month.
Huang Tien-mu, chairman of Taiwan's Financial Supervisory Commission, confirmed that the agency will be the country's first regulator in charge of overseeing cryptocurrencies.
The FSC will apparently focus on cryptocurrencies and will leave NFT tokens out of its jurisdiction. According to Huang Tien-mu, NFTs are an emerging digital asset class that has yet to be properly classified for regulation. Financial regulators in other countries, such as Germany’s BaFin, have a similar view on NFTs, which is why they have left them out of the scope of current laws.
On the announcement of the FSC as a regulatory body for the crypto industry, crypto-related businesses in Taiwan seem to be in agreement. XREX co-founder Wayne Huang has welcomed the FSC, highlighting that its role as a regulator could help the industry grow and expand, according to CoinDesk.
Continue reading: Fidelity opens its Bitcoin and Ethereum trading service to the public
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
