blockchainreporter.net
AgriDex, a prominent Real-World Asset (RWA) marketplace over Solana, announces a strategic collaboration with Bridge, an on-and-off-ramp service provider. This collaboration is aimed to revolutionize global agricultural trading by streamlining financial transactions through decentralized finance (DeFi). Additionally, both firms will collaborate to increase the ease and standard of agri-business deals for farmers and traders globally by providing stablecoin solutions.
Transforming Agricultural Payments
AgriDex and Bridge’s cooperation changes the nature of financial transactions in the agricultural market, which comprises $2.7 trillion in agricultural trades. AgriDex utilizes Bridge’s payment infrastructure, enabling customers to seamlessly convert digital assets to USD. This significantly reduces average transaction fees from 3% to 0.3% and cuts processing time from days to seconds. It also serves agricultural businessman interest by facilitating faster payments and reducing costs which farmers and other supply chain members often experience.
Research on farmers reveals that they are subjected to economic disparities. For example, in a 350g supermarket beefburger pack that costs £3.50, the farmer who bears all the production costs only gets credit for 0.95%. On the other hand, processors and retailers earn comparatively better profit shares. Likewise, other farm produce is equally discriminated against in their markets, leaving the poor farmers with little or no profit. AgriDex and Bridge seek to provide a better solution for those transactions and guarantee a more favorable revenue share for farmers.
AgriDex Bringing Transparency and Fair Profit Margins for Farmers
AgriDex is positioned to solve some of the problems that have plagued the agriculture industry for decades. A recent UK university study highlights the disparity in profit distribution: beef farmers receive only 0.03% of the price of four-pack beef burgers.
At the same time, processors and retailers are willing to capture a much larger proportion. AgriDex and Bridge seek to provide fair values to farmers and make the global supply chain fairer by establishing a transparent on-chain system.
The partnership of AgriDex and Bridge represents the advancement of the agricultural product exchange in conformity with modern decentralized blockchain standards, working to optimize existing processes and reduce their expenses. The effort highlights the firm’s commitment to supplying the emerging demands of the agricultural market with a credible and efficient food system.