SAN FRANCISCO, CA – 15/08/2024 – (SeaPRwire) – In a significant step towards reshaping the global agricultural landscape, Unstoppable Domains, the world’s foremost provider of onchain domains, has entered into a strategic partnership with Farmsent, a pioneering blockchain initiative designed to empower farmers and promote food security worldwide. This collaboration aims to address some of the most pressing challenges in the agriculture sector by eliminating intermediaries, ensuring fair pricing for farmers, and fostering a decentralized, transparent marketplace that connects producers directly with buyers.
Agriculture, a cornerstone of the global economy, has long been plagued by inefficiencies and inequalities that disproportionately affect small-scale farmers. These farmers, who constitute the backbone of the world’s food supply, often find themselves at the mercy of powerful intermediaries who control pricing and market access. In many cases, the prices paid to farmers barely cover production costs, leaving them trapped in cycles of poverty. Recognizing these systemic issues, Farmsent has developed a blockchain-based platform that leverages the power of decentralization to create a more equitable food supply chain.
Farmsent’s innovative approach revolves around the creation of a global onchain marketplace, where farmers can trade directly with consumer-facing businesses without the need for middlemen. This decentralized model is designed to empower farmers by providing them with greater control over their products and the prices they receive. The introduction of the .farms top-level domain (TLD), provided by Unstoppable Domains, is a critical component of this initiative. This new digital identity tool allows farmers to establish a unique online presence that facilitates direct transactions with buyers across the globe.
The .farms TLD offers a range of benefits to farmers, including the ability to send and receive payments in cryptocurrency, with support for over 275 different tokens. This functionality not only simplifies transactions but also opens up new opportunities for farmers to access international markets and secure better deals for their produce. By using the .farms TLD, farmers of all sizes can transcend geographical and financial barriers, creating a more inclusive and competitive marketplace.
Yog Shrusti, CEO of Farmsent, highlighted the transformative potential of this partnership: “The global agriculture system is deeply flawed, with small farmers disproportionately impacted by unfair pricing and market dominance by large corporations. Farmsent is creating a decentralized marketplace that empowers farmers to sell directly to consumers, cutting out exploitative middlemen. Traditional crypto wallets present a barrier to entry for farmers, so we’ve introduced the .FARMS TLD to provide simple, accessible digital identities. This empowers smallholders to access capital, expand their farms, and overcome the limitations of centralized systems.”
Since its inception, Farmsent has rapidly gained momentum, particularly in regions where small-scale farming is a vital economic activity. In Indonesia and Colombia, the platform has already onboarded over 160,000 farmers, providing them with the tools and resources needed to compete in the global market. The beta version of the platform is currently facilitating the trade of key commodities such as coffee, avocado, and palm sugar between these countries, the UAE, and Indonesia, where Farmsent holds a license to operate. With plans to expand into three additional major markets, including one of the world’s most populous nations, Farmsent is on track to make a significant impact on global agriculture.
Sandy Carter, COO of Unstoppable Domains, expressed the company’s commitment to supporting Farmsent’s mission: “Farmsent is a testament to the transformative power of the blockchain. We’re proud to provide Farmsent with a home onchain, enabling them to give users a unique digital identity they can use to trade securely and on equal terms with major, multinational competitors.”
The partnership between Unstoppable Domains and Farmsent is not only a technological advancement but also a strategic move to influence the broader blockchain ecosystem. As a new partner of Unstoppable Domains, Farmsent will join over 15 blockchain-based companies, including the prominent crypto finance firm Blockchain.com, in strategizing and applying for the upcoming Internet Corporation for Assigned Names and Numbers (ICANN) general Top Level Domains (gTLD) application round in 2026.
This collaboration underscores the potential of blockchain technology to drive meaningful change in traditional industries, such as agriculture. By providing farmers with the tools to establish their digital identities and connect directly with buyers, Unstoppable Domains and Farmsent are paving the way for a more equitable and sustainable global food system.
About Unstoppable Domains
Unstoppable Domains, launched in 2018, is a leading Web3 domain name provider and digital identity platform dedicated to bringing the world into the Web3 era. The company offers blockchain-minted Web3 domains that give users full ownership and control over their digital identities, with no renewal fees. Unstoppable Domains allows individuals to replace complex alphanumeric crypto wallet addresses with human-readable names, facilitating transactions across more than 720 apps, wallets, exchanges, and marketplaces. Recognized by Forbes as one of America’s Best Startup Employers in 2022, Unstoppable Domains continues to drive innovation in the digital identity space.
SOURCE: Unstoppable Domains
by Arrow123
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