eLivestock Global partners with nChain to deliver blockchain-based cattle processing and tracking solution to support farmers in Africa
ZUG, Switzerland, Oct. 10, 2022 (GLOBE NEWSWIRE) — eLivestock Global (ELG) and nChain today announced a partnership to launch a cattle traceability platform aimed at ensuring livestock are healthier and farmers can secure their livelihoods.
“With eLivestock’s rapid expansion plans underway in the region; nChain’s robust, scalable and innovative blockchain solutions make them the perfect partner to power our award-winning solution. We are delighted to welcome nChain as a technology partner to our mission of enabling the smallholder livestock farmer with global scale and access while leveling the playing field via digital and financial inclusion. As our platform grows into a more national and regional presence, nChain’s solutions will help ensure the integrity of livestock data. As we continue to add functionality and offerings to our platform, we are confident in nChain’s ability to grow and scale with us,” commented eLivestock CEO Chris Light.
Secure blockchain solution
The AgriTech start-up solution provides each animal with a unique digital “passport”, which confidentially records data on ownership, vaccinations and movements. Information is scanned and collected via an RFID chip on the cattle’s ear and links to a phone-based app. nChain’s innovative platform notarizes this to a public ledger, providing transparency to all stakeholders in the process from banks to beef buyers, while allowing farmers to receive payment automatically . The system reduces dependence on third parties, and associated costs, as well as eliminates the risk of errors or duplication.
Empowering African farmers
Currently, there is no unified approach to tackling disease or climate change-related problems affecting cattle due to the lack of a global identification system. Also, many farmers in Africa are unbanked and have no proof of livestock ownership, meaning they cannot put up their cattle as collateral to secure a loan or get paid for the true value of their animals. Current attempts to solve this are unsustainable either by making farmers overly dependent on NGO support to maintain the system or by storing data and processing payments through private companies that take commission.
“This is a critical use case for us to demonstrate that blockchain is more than a payment solution and has the potential to solve real-world problems. Our industry-leading technology delivers optimal performance, both in terms of scalability and energy efficiency, to reduce overhead and allow farmers to receive the maximum compensation possible. We are excited to work with clients like eLivestock who realize the unique potential of blockchain,” said nChain’s Chief Revenue Officer Leandro Nunes.
A win-win cooperation
The mutual collaboration, which covers the notarization of all data collected or updated via the RFID tag on the blockchain, leverages both partners’ expertise in technology and in solving real-world problems. nChain was recently named one of the world’s most innovative companies in 2022 by LexisNexis, while eLivestock is the proud recipient of several awards, including SID-US’ 2022 Innovation Award.
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About eLivestock
Headquartered in the biotechnology corridor of the Washington DC area, E-Livestock Global LLC aims to improve the livelihoods of rural and commercial farmers by enabling the traceability of their cattle. Focusing on cutting-edge, affordable technologies, ELG delivers a world-class livestock traceability solution that can be used globally. Founded by Chris Light and Max Makuvise, who respectively bring to the table expertise in both technology and cattle, empowering the smallholder cattle farmer is the main focus. The product has been piloted in Zimbabwe, and is quickly making its way into other African nations.
About nChain
nChain is a global blockchain technology company and recently named one of the 100 most innovative companies in the world. We offer software, consulting services and IP licensing for customers in various industries who want to take advantage of the security and scalability of the blockchain. Our mission is to secure the internet of value. Founded in 2015, nChain employs more than 250 employees, holds over 400 patents, and is the developer of the Bitcoin SV Node software, Teranode, LiteClient, and more.
Learn more at: nchain.com
Communication contacts:
E-Livestock Global: Chris Light, CEO, [email protected]
nChain: Valentine Labarthe, Head of Commercial and Strategy, [email protected]
Contact information:
Chris Light
CEO
[email protected]
Ed Ball
Head of Communications
[email protected]
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