LONDON, Feb. 1, 2021
New blockchain-powered platform will deliver significant efficiencies across the $9 trillion a year agriculture and food industries
LONDON, Feb. 1, 2021 /PRNewswire/ -- AgriDex, the world's first digital market place for the 'farm to fork' $9 trillion agricultural and food sectors, today announces that it will go live before the fourth quarter of 2021.
The AgriDex market place, which already has garnered serious interest from [over 150] corporates across this global industry, automates the interactions between farmers, food producers, industrial, commercial, financial and governmental players around the globe and across the supply chains.
By exploiting the efficiencies of smart contracts and the immutability and the quantum-safe security of the L3COS permissioned blockchain operating system, AgriDex enhances transparency, food provenance and reduces transaction costs for every participant.
The market place will be underpinned by the issuance of AgriDex tokens, the value of which will be pegged to the British pound, as a digital asset to facilitate frictionless trade. The tokens will be the medium of exchange used by all participants trading on the platform to settle invoices with each other giving the tokens both an intrinsic value and a practical application.
A spokesperson for AgriDex said: "When developing the AgriDex solution, we considered every stakeholder in the value chain; it is a global game changer and has no equivalent in any other sector. And it's not just about the efficiencies we will bring to the whole supply chain, but that each automated transaction will cost only a fraction of a penny.
"It has the raw potential to introduce greater trading productivity, enhance the provenance and sustainability of the food we eat, and benefit farmers and consumers alike.
"We look forward to welcoming more companies and organisations to the platform."
Zurab Ashvil, CEO and Founder of L3COS said: "L3COS will be powering the AgriDex platform which aims to revolutionise the world's most important import-export sector; the savings from the efficiencies will add to the value received by those in the supply chain and reduce the costs of food for consumers."
About AgriDex (www.agridex.com)
A game-changing digital marketplace, AgriDex will revolutionise the global agricultural sector by bringing new technology to the whole supply chain.
AgriDex will bring full technological automation from farm-to-fork, from country of origin to country of consumption. It ensures the total transparency of food provenance, specificity in the chain of ownership and will also automate the rendering (where required) of tariffs and taxes on products when locally applied.
Over 150 companies around the world, ranging from multi-billion dollar food manufacturers to retail stores have signed up to be participants on the platform, which promises to cut costs at every single point of the food value-chain, and ultimately reduce the cost of food to the end consumer. AgriDex will also help platform users with compliance as well as addressing investor concerns about the environmental and sustainability of global food supply chains.
About L3COS (www.l3cos.com)
L3COS, (pronounced 'Leckoss') brings the benefits of blockchain to the wider economy. It provides full governmental and regulatory oversight across digital transactions, and is applicable for all businesses, large and small, as well as for individuals. It is the first and inevitable, but essential, step in making the world fully digitalised.
L3COS based operating systems are quantum-safe with the ability to execute transactions and exchanges at the scale and speed necessary to disrupt both existing blockchain and traditional methods. Its technology is immutable, fully auditable, traceable and transparent, all of which makes tracking cross border movements cost effective and efficient.
The operating system facilitates secure, regulated and digitalised activity for countries around the world, as well as the tax and regulatory requirements for sovereign regulated institutions, such as the UK Customs & Excise and US Customs & Border Portection, for corporates and for individuals.
The application of L3COS's technology to the AgriDex platform will revolutionise the agricultural and food sectors, providing greater transparency, speed and reduce costs across the full, global supply chain.