Gluwa Blockchain Partners With Lagos State Government to Digitize Agricultural Assets

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Press release. San Francisco, California, October 27, Chainwire: Blockchain infrastructure platform Gluva is partnering with the state government of Lagos to transform the agriculture sector. The move will enable digitization of farm assets, making it easier for farmers in the region to get finance.

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The project will involve the Lagos State Ministry of Agriculture, Finance, Science and Technology as well as the Bureau of Lands. These entities will support the integration of physical agricultural land into non-fungible tokens to provide access to digital asset-backed credit for all Lagos state farmers.

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Gluva CEO Tae Oh said: “Agriculture is one of the backbones of the Nigerian economy, with 35% of the population in their employment. It must be modernized for the government and the private sector to realize its full potential and attendant benefits. ,

“According to the five-year Lagos State Agriculture and Food System Roadmap, where the sector is projected to generate upwards of $10B by 2025, it will be of great value to identify, record and trade agricultural assets using innovative blockchain technology. What will happen.”

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Speaking at the launch, Lagos Commissioner for Agriculture, Abisola Olusanya said that Governor Babajide Sanwo-Olu’s administration aims to make Lagos State completely self-reliant in the areas of wealth creation, value creation, food security and industrialization of agriculture. region.

Olusanya said its strategies for sustainable agricultural development are focused on three pillars of upstream sector development. This will be achieved through leveraging technologies that can reduce the cost of production across value chains, focusing on developing midstream and downstream sectors that are of value, and by developing and introducing policies to private companies. Improve sector participation that will encourage more private investment in agriculture.”

Gluva. about

Gluva is an open finance platform that connects capital from developed markets to emerging market lending opportunities using blockchain technology. By providing a decentralized infrastructure rail to raise and distribute capital anywhere in the world, investors can use the Gluva Invest platform to participate in debt-financing deals with emerging market fintech lenders, earning up to 15% APY .

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Gluva

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Credit : news.bitcoin.com

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