WHAT IS PACFARM AND WHAT PROBLEMS ARE THEY SOLVING IN THE AGRITECH INDUSTRY?
Tags: Litecoin, Agriculture, Bitcoin News, Blockchain Startup, Cryptocurrency

PACfarm LOGO

WHAT IS PACFARM AND WHAT PROBLEMS ARE THEY SOLVING IN THE AGRITECH INDUSTRY?

PacFarm enables everyone to take part in the first west Africa innovative blockchain Agritech ventures without the regular heavy cross border obstacle to entry that exists in the Agritech space.

We provide an avenue for you to Impact the lives of small scale farmers in a positive way while you grow your money and make returns after a stipulated period.

Mission:

Our mission is to empower small-scale farmers in growing, flourishing and giving back to their communities. We are doing this simply by linking far-sighted farm sponsors and genuine farmers with the end goal of accelerating production, increasing sales and finally building and sharing profits with farmers and investors. Our platform brings a difference in farming by allowing a safe peer to peer lending network to connect intelligent investors with farmers in Africa through the power of the $PAC blockchain.

THE PROBLEM & SOLUTION

Small scale farmers don’t just plant crops, they contribute immensely to food security in Africa and also have a strong contribution to the gross domestic product of most Africa countries. According to ASFG, “There are around 500 million smallholder farmers in the world, and they produce up to 80% of the food consumed in Africa and Asia. They are net buyers of food and very vulnerable to food price increases and spikes. As a group, they are among the poorest and most marginalized in the world.”

The basic problem these farmers face is that after processing their crops they need to sell their product to agro-processors who use machines to process the products and sell to wholesalers since most smallholder farmers do not have the machine to process their crops or storage facility to preserve their harvested goods. Many of these farmers end up losing most of their crops to pests while the perishable goods rot. Smallholder farmers encounter several challenges from being unbanked to lack of information, lack of transport system, lack of loan e.t.c.

Nevertheless, PAC Farm will be solving some of these basic challenges for farmers in West Africa using blockchain technology and cryptocurrency. Below are some of the problems:

1. TRANSPORTATION: is a major issue in Africa affecting not just small-holder farmers but most SME in Nigeria. Most of the crops produced in Africa just end up wasting because farmers find it difficult in transporting most of their products to buyers and Agro processors.

So, the problem isn’t lack of buyers, it is lack of proper transport system which PAC Farm will be solving this by buying up harvested crops and also help smallholder farmers to sell to our partner, wacot rice Agro processors. With the help of our logistics and transportation companies which include: https://www.binkabi.io/Partnership.

Binkabi is a platform for issuing, trading, financing commodities and transport/logistics on the blockchain with a strong base in Africa.

However, PacFarm transport service will solve both the transportation and sales challenges facing more than 50% of smallholder farmers in West Africa. Investors can directly fund sales and transportation with a minimum investment of $50 or maximum funding of $100 with a return of both capital and 10% growth after three months which can be paid in $PAC, $LTC and $BTC.

2. POOR FINANCIAL SUPPORT: over 25% of smallholder farmers in Africa lack adequate access to finance which has really hinder those marginalized farmers from producing more crops. Cryptocurrency like $PacGlobal, $LTC and Bitcoin can provide direct financial support to the farmers with the help of PACfarm without collateral or high interest so they can purchase all that is needed.

However, It is true there are many microfinance banks in Africa but the majority of these farmers are either un-bank or don’t even know how a bank operates. These farmers are very poor which made it difficult for them to adopt new farming methods. Lack of proper education and government support is really killing the Africa agricultural market which is projected to top U.S.$1 trillion(USD) in 2030.

PAC farm will be disbanding this problem by allowing a safe peer to peer lending network to connect intelligent investors with farmers in Africa through the power of the blockchain. Investors can either provide funds for transport and logistics with a yielding return of 10% in 3 months or to directly fund a farm with a 20% return in six months. Farmers can liquidate funds directly to fiat through our agents on-site at their farms.

3. LACK OF INFORMATION: this is the number one problem facing farmers in remote areas, the old method of farming because of lack of digital information and access to updated farming process. Many of the farmers miss cheap and efficient ways of farming such as plant permutation or use of cheap manure like the green manure. With our partnership with two agricultural firms, we will provide real-time information to farmers and also train them.

We also intend allocating 5% of our total profits into providing new farm practice and adult education to our farmers and also build an eco-friendly village for them using the https://www.earthshipglobal.com/design-principles building principle which is cheap, durable and strong.

BENEFITS TO $PAC GLOBAL COMMUNITY:

Cryptocurrency was predominantly created for individuals who have been left behind from the financial legacy system of the world like Africa. Many small scale farmers cannot benefit from western investors due to the high banking charges fees, alongside with the government and private control/censorship that occurs when farmers and investors rely on the traditional banking system to facilitate payments which can also take up to a week to settle funds.

However, with $PACfarm trusted farmers will be able to receive funds from investors and also return back with interest which will boost daily transactions on $PAC crypto blockchain. PACfarm investors will have to buy PAC to invest in our platform and after three months $PAC farmer will have to buy PAC with fiat to pay back investors. This is first of its kind in West Africa and $PAC will be championing it.

Keep in touch with our development by joining us on:

Discord: https://discord.gg/ndhUCh9,

Telegram: https://t.me/joinchat/Mk5D_1GjiCrfCKZIntSDbg,

Twitter: @FarmPac,

IG: @pacfarm1,

Reddit: https://www.reddit.com/user/PacFarm

BitcoinTalk: PACFARM