Algorand Foundation Partners With Boston University to Support African Farmers Using Blockchain
The Algorand Foundation partnered with Boston University and Kenya’s Hello Tractor to develop an application where local farmers can share access to tractors.
By Anna B Kiwanuka
Non-profit organization that supports the Algorand network, Algorand Foundation, has announced a partnership with Boston University and Kenyan agricultural company Hello Tractor. The new partnership intends to introduce blockchain technology to boost African farmers’ productivity.
With the latest partnership, Boston University will utilize a blockchain-based solution dubbed Tokenomics, which was built with the help of Algorand, to aid Hello Tractor in scaling through institutional and infrastructural problems in Africa thereby enabling protected bookings and storage of information about tractor activities.
Realizing the rising food shortages and underlying low technology in the African agricultural sector, Hello Tractor seeks to curb these deficiencies. The mission of the company is to establish a digital ecosystem in the agricultural sector by aiding African farmers with tools and machinery such as tractors to increase the production and circulation of food.
The company also connects tractor owners with African farmers, who both profit from the business, as one of the main ways it accomplishes this. However, several obstacles, such as poor roads, a lack of privacy legislation, and a significant reliance on fiat money, dwarf the adoption of Hello Tractor’s services throughout many regions and African communities.
This partnership will provide an opportunity for the parties involved to receive rewards in the form of digital tokens.
A recent study states that having access to tokens will also enhance the functionality of Hello Tractor’s current mobile and web app platforms by providing incentives for farmers, tractor owners, travel agencies, and investors to remove access barriers.
Will Tomlinson, Director of the Boston University Software & Application Innovation Lab (SAIL) commented on the partnership, noting that it will enable the U.S. university to contribute to the agricultural growth of the African region.
“Through software development, we get a chance to change lives, while also expanding our internal know-how within our Privacy & Security domain of expertise,” he said.
Algorand has recently intensified its effort to raise public awareness about cryptocurrencies by collaborating with leading institutions like educational institutions. The Algorand Foundation and New York University (NYU) joined up in late February to strengthen information privacy by utilizing cryptography.
The business has collaborated with an Italian university to launch a center for cryptocurrency research.