The Agriculture industry is on the front lines of recent climatic and global economic shifts, causing plenty of issues in the industry and leaving farmers with little recourse in this increasingly challenging environment.
RiperDeFi aims to combat this. The ecosystem is an AgriDeFi (Agricultural Decentralised Finance) project built on an essential economy with pre-existing users. Its mission is to empower farmers and end their dependencies on debt by promoting an inclusive and decentralized platform for all.
RiperDeFi’s CEO, James Yau, has been an active member of the farming community for over a decade. As a result of being directly involved in the industry, James noticed numerous points of concern in the agricultural sector.
Firstly, large buyers can secure lower prices by making big orders; in return, banks and governments incentivize them with more favorable terms, grants and subsidies. Thus, farmers often find themselves giving up large amounts of crops for very little in return.
There is also no access to micro-financing in times of economic difficulty. In the event that their customers fail to pay or become bankrupt, farmers would lose out on their payments completely with no options for recourse.
RiperDeFi’s mission is to provide decentralized financial services solutions that are efficient, sustainable, and inclusive for everyone, helping farmers reach financial independence and have more control over their finances.
Buy-side pressure is alleviated via the platform as sellers determine the price they wish to sell at. The power is placed back into the hands of farmers, as opposed to large customers that promise to buy the entire supply from a farm without any upfront payment due to their strong credit score and/or market reputation.
The platform provides farmers an opportunity to focus on their craft. It removes the need to monitor and be actively involved in administrative tasks that do not generate income. Each trade can be covered by insurance to protect funders from buyer-side credit risks. This also ensures that farmers always get paid.
The project is well on its way to transform the lives of farmers globally. With its steady progress and innovative solutions, RiperDeFi will soon embark on a journey to revolutionize the agricultural sector.
Learn more about RiperDeFi:
Telegram News: https://t.me/RiperDeFiNews
Telegram Chat: https://t.me/riperdefiofficial