eLivestock Global partners with nChain to deliver blockchain-based cattle processing and tracking solution to support farmers in Africa

ZUG, SWITZERLAND – October 10, 2022 – eLivestock Global (ELG) and nChain today announced a partnership to launch a cattle tracking 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 excited to welcome nChain as a technology partner to our mission to provide smallholder livestock farmers 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 solution created by the AgriTech start-up provides a unique digital “passport” for each animal, confidentially entering data on ownership, vaccinations and movements. Information is scanned and collected via an RFID tag on the cattle’s ear and links to a phone-based app. nChain’s innovative platform – Kensei – notarizes this into a public ledger, providing transparency to all stakeholders in the process from banks to beef buyers, while farmers can 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 fixed costs and allow farmers to receive the maximum compensation possible. We are excited to work with customers 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 are the proud recipients of several awards, including SID-US’ 2022 Innovation Award.

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