FarmTrek description

FarmTrek, developed by InfoCorp Technologies, is the world’s first solution for livestock-backed insurance and financing using private, permissioned-based blockchain to tag and track livestock ownership.

The solution is designed as an in-country network for companies and government agencies involved in livestock-related activities, and livestock owners. FarmTrek reduces fraud by maximising data integrity from end-to-end, for the primary aim of solving unbanked farmers’ asset ownership problem. Through the use of physical tamper-proof tracking device, attestation process and digitally immutable data storage, our solution addresses issues of:

• Identity fraud.
• Asset ownership fraud.
• Data security risk.
• Credit assessment risk.
• Livestock insurance moral hazard.
• Livestock tracking and traceability.
• Cost-effectiveness.

Farmtrek provides a complete solution for tracking, insuring and collateralising of livestock in creating a new approach to solving the financial inclusion problem.