Etherisc And ACRE Africa To Deliver Affordable Coverage For 250,000 Smallholder Farmers In Kenya
Etherisc And ACRE Africa To Deliver Affordable Coverage For 250,000 Smallholder Farmers In Kenya
November 17, 2020
Etherisc And ACRE Africa To Deliver Affordable Coverage For 250,000 Smallholder Farmers In Kenya
Etherisc And ACRE Africa To Deliver Affordable Coverage For 250,000 Smallholder Farmers In Kenya
November 17, 2020

Etherisc, a decentralized insurance protocol, and ACRE Africa, a microinsurance issuer, has planned to deliver affordable coverage for the nearly 250,000 smallholder farmers in Kenya.

It has been reported that the Chainlink Community Grant program has been announced this project, which many of whom are expected to be disproportionately affected by climate change over the next three years. 

However, the planned platform will also provide insurance policies with payment installments valued as low as the equivalent of 50 cents in local currencies.

The report said that the grant money will be used to finance several aspects of the project, such as developing the smart contracts, building a user-friendly front-end for farmers to interact with, integrating with local payment systems, and various other technical developments.

Likewise, a part of this grant will go towards financing studies related to the economics of insurance for agricultural crops in many African countries, with the goal of determining sustainable coverage models for both insurers and farmers.

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George Kuria, the CEO of ACRE Africa, said:

“We’re excited to be able to further our work with farmers in East Africa by receiving support through the Chainlink Community grant to help build out and implement a more reliable and cost-effective model for crop insurance with the collaboration of Etherisc.”

Thus, the project is part of a wider trend of growing interest in blockchain technologies spreading across the African continent. 

Source: Cointelegraph


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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.