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GrainChain, a blockchain-based platform for the agricultural industry supply chain, announced it had been honored as one of 18 finalists of Fast Company’s 2020 World-Changing Ideas Awards in the Food category. Fast Company’s awards recognize the businesses, policies, projects, and concepts that are actively engaged and deeply committed to climate crisis, social injustice or economic inequality.
“We believe that technology tools can build agricultural industries and help improve conditions for farmers around the world,” said Luis Macias, CEO of GrainChain. “Our blockchain and IoT products give farmers, shippers and buyers a single, reliable platform that encourages reinvestment and improves quality across the entire supply chain.”
Last March GrainChain announced that they completed $8.2 Million in a Series A funding round. More importantly, they began to expand and serve farmers who need logistical support in Mexico, Honduras and the United States. They were also instrumental in demonstrating factors showing a correlation between Peso currency inflation and grain supply correlations, early this April.
“There seems no better time to recognize organizations that are using their ingenuity, resources, and, in some cases, their scale to tackle society’s biggest problems,” says Stephanie Mehta, editor-in-chief of Fast Company (FAST). “Our journalists, under the leadership of senior editor Morgan Clendaniel, have uncovered some of the smartest and most inspiring projects of the year.”
Medici Ventures, the blockchain subsidiary of Overstock.com OSTK
, led the latest funding round for GrainChain.