HYDERABAD: University of Hyderabad (UoH) and Synchrony, a consumer financial services company, signed a Memorandum of Agreement (MoA) on Thursday to help fund the country’s first blockchain project to provide financial services to farmers in the country.
The blockchain project can bring farmers and financing experts together in the supply chain to simplify the exchange of information and payments. The public-private partnership for a three-year period includes a grant from Synchrony to the University. The project focuses on leveraging blockchain technology to help lenders provide financial assistance to farmers with no collateral and fixed assets.