SAN JUAN, Puerto Rico--(BUSINESS WIRE)--Reimagining the agricultural value chain through distributed ledger technology, digital technology and cryptocurrency, the visionary team behind Producers Token is excited to announce its latest project, Producers Market.
Designed to help farmers get maximum return from their outputs, Producers Market is a digital platform that offers tools to efficiently finance, promote and market goods in the most efficient and profitable manner, minimizing the number of intermediaries required to get crops from the grower to its intended destination. Producers Market is integrating distributed ledger technology, smart contracts, cryptocurrency and social media into digital application tools that enable manufacturers, distributors, retailers and brands to provide greater transparency and connectivity to consumers, and greater returns to their farmers.
Producers Token is structured as an asset-backed security token to align with the values of decentralization by connecting its venture with a global community of added-value investors. In addition, the security token format enables the corporate mission to reward twenty percent of total equity ownership to the farmers that do business on Producers Market.
Co-founded by agriculture industry entrepreneur, Keith Agoada, Producers Token and its subsidiaries stem from his passion for supporting producers. Alarmed by the United States Department of Agriculture’s (USDA) estimate that of every $1 spent by consumers on the agricultural value chain, only $0.085 goes to the farmer, Agoada set out to create a digital solution that could level the playing field and provide a fair and sustainable level of compensation for growers. Producers Market allows farmers to streamline processes to directly market outputs and reduce barriers to communication, marketing and finance options, ultimately bringing them closer to their wholesale buyers and end customer.
In essence, Producers Market makes it easier for farmers to sell crops and earn more money by drastically decreasing the number of intermediaries between producers and consumers - in fact, Producers Market only takes a nominal 0.5 percent transaction fee. In turn, this gives consumers more options when shopping, coupled with lower prices due to the lack of middlemen. In addition, the blockchain technology employed by Producers Market allows consumers to track exactly where their food comes from.
“The disparity between what consumers pay for produce and what actually trickles down to farmers is staggering,” said Agoada. “The archaic business model employed throughout the agriculture industry is not only unsustainable, but also rife with antiquated bureaucracy, limiting producers’ earning potential and creating a monopoly, favorable only to the largest growers. With Producers Market, farmers can challenge the system and unlock new revenue streams by taking a more active role in the farm-to-table process.”
By digitizing and decentralizing the agricultural value chain, Producers Market is removing cost centers and opening direct financing and marketing opportunities for producers. Detailed explanations of the inner workings of Producers Market, as well as analysis of the current state of the agriculture industry can be found in the company’s recently released whitepaper.
For more information, please visit www.producersmarket.com and view the whitepaper here. An explanatory video of Producers Market is also available here.
About Producers Token
Founded by a team immersed in the agricultural value chain for more than a decade, Producers Token is building a global platform to empower farmers and agriculture producers through smart contracts and distributed ledger technology. Leveling the playing field and shifting supply chain power back to the source of production, the company aims to increase efficiency within the agricultural industry and serve as an advocate for producers, amplifying visibility and providing greater transparency to buyers.
To learn more, please visit www.producerstoken.com or follow Producers Token on Instagram, LinkedIn, Telegram and Twitter.