AB InBev Brewing Company will use BanQu blockchain platform

by in Blockchain News

Beer AB InBev blockchain

The international brewing company AB InBev will use blockchain to work with farmers from Africa who supply raw materials.

Due to the lack of developed banking infrastructure in the country, local farmers face difficulties in obtaining tax benefits. Thanks to the new blockchain solution developed by the BanQu startup, barley, and malt farmers will be able to track their supply chains, submit income reports to local banks, as well as open accounts in banks and receive loans.

Carlos Brito, CEO of AB InBev noted that farmers who never worked with banks, documentation and tax reports will be entered into the blockchain-based system. Now they can prove without any unnecessary workflow that they are supplying raw materials to the international company AB InBev. It was said at the Davos World Economic Forum.

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He added that receiving funds from banks, local farmers can purchase advanced agricultural equipment, which will increase the efficiency of harvesting and bring them additional income. In addition, the system, which is already in use by 1000s of Ugandan and Indian farmers, will eliminate corruption among intermediaries that supply raw materials to breweries.

Also, you can recall, that in 2018 Oracle entered a cooperation with the World Bee Projects to leverage cloud technologies to properly assume the drop in global bee populations. The primary goal was to arrange innovative tactics to assist farmers to maintain bee and pollinator habitats.