Assam Company India Limited
Assam Company India Limited Taps Blockchain
October 25, 2019
Assam Company India Limited
Assam Company India Limited Taps Blockchain
October 25, 2019

Assam Company India Limited (ACIL), an Indian corporation engaged in tea plantation, has put up a plan to integrate new technologies such as Blockchain, Artificial Intelligence (AI) and Big Data into its processes and reward tea farmers for their hard work.

On October 23, 2019, according to reports, the idea is aimed at helping to maximize tea plantation output in five-folds, which could amount to a targeted 50 Million kilograms of tea in five years.

Transforming Tea Farming with DLT

Distributed ledger technology (DLT), the building blocks of BitcoinEthereum and most of the altcoins, continues to have a meaningful impact on human life.

However, in the latest development, ACIL is set to tap the revolutionary technology for tea supply chain traceability, to enable consumers from all parts of the globe to know exactly where the tea leaves they consume are harvested.

Specifically, the team says that the blockchain solution will come with a barcode scanner along with a unique reader, taking care of the traceability, identification, verification of authenticity and quality assurance processes.

ALSO READ :  WEF: Facebook’s Libra Pushes The World To Start Reconsidering US Dollar As Anchor Currency

Recording the Supply Chain from “Farm to Cup”

ACIL says that it has inked a partnership deal with SmartFarms Inc, an American firm, to roll out the “Farm to Cup” initiative, which is aimed at promoting transparency in the entire tea supply chain by allowing consumers to get the entire details of their tea straight from the farm.

The oldest tea farming company in the world, Assam Company was originally incorporated in the UK by the Royal Charter of the British Empire in 1839, within weeks of the first shipment of tea leaves from India’s Assam region being auctioned in London.

Likewise, BR Shetty, the Chairman of Assam Company India Limited, noted that the primary objective of the project is to retransform the tea industry with DLT, while also transforming people’s lives.

He said:

“Our aim is to bring technology and innovation at the forefront of the tea industry. This will not only impact the lives of 26,000 farmers at our estates, but the entire workforce employed in the tea sector across the country.”

BR Shetty

ACIL also seeks to properly reward the workers, who grow the tea leaves by a tea drinker living anywhere in the world.

ALSO READ :  Real Estate Firm Antalya Homes Says Its Customers Can Pay With Bitcoin

Source: thenational.ae | btcmanager.com


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
Share This

Share This

Share this post with your friends!