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Some long discussions have been made in previous days, weeks, months and years, of how exactly Crypto, Blockchain and DeFi ( Decentralized Finance) can impact the world's Economy or maybe influence the finance status of the world. Slowing we are seeing the daily growing confidence around Bitcoin being a much trusted asset, and even gossips about it replacing Gold. No doubts, bitcoin has pulled down just enough boundaries to prove itself worthy of the praises, and cryptocurrency at large has done just enough to change the world's system of money and distribution of wealth. While I was going through my crypto news feed, my eyes caught something catchy, Hive blockchain recently published their lately purchased Bitcoin miners of 6,400 Mining Machines with 1,200 PH/s. The initiative is to achieve their goal of more than 1,000 PH/s at the end of the year 2021. But that story is on the wayside, let's talk about Crypto in agriculture. The biggest field of revenue is agriculture, considering the fact that notwithstanding how technology may change the world in most cases, people will always have to eat, so agriculture plays a bigger role in any country' s economy, reason being that demand for supply of farm produce will always be at high edge, and by a followed up and productive response sector of agriculture, if level of production is high and meets the 'want' with little or no scarcity of any produce at all, then the country is bound to have an increasing revenue from that section, excessive produce to export and resulting to a good cash flow, good economic booster.

That said, Crypto has been at the forefront of making sure it touches every field of Finance, in order to eradicate world hunger, creating a transparent system of money transactions, tax free and user friendly. DeFi is the biggest accomplishment in the Crypto-sphere, the world has been running in the opposite direction, a censored system where you're just a product even with your own funds, the introduction of DeFi could or has helped change that.

Crypto In Agriculture - Introducing Rice - Based Stablecoin

Indonesia was reported to lose 30,000 ton decayed rice every year, which sums up to almost 30 Million USD/year of the Indonesian government budget. The Indonesian government has been facing a lot of BULOG (Bureau of Logistics) problems lately, The Asian Country uses BULOG (state-owned logistic company) to stabilize prices of commodities, which mostly focuses on rice. Indonesia is one of the world's Top largest Economy, but on a report note, Indonesia dropped in GDP 2020, I guess this was a year every country had a taste of a retarding Economy, see below:

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-1.5% in 2020 but with a nice bounce back of 6. 1% in 2021

Letting DeFi Shoot Those Figures Up

PRESS REPORT - Penjaga Lilin Nusantara, an Indonesian Cooperative in Malang – East

"Java is setting up Ricetron.com a Tron-based DeFi to tokenize rice-based stablecoin. The website aims to invite crypto enthusiasts to stake Tron and mint RET (Rice Economy Token), a governance token that will fund RIC (Rice Inventory Coin) stablecoin." reference

The report adds that RET token holders will benefit from 30% of all transaction fees and profit-sharing of RIC DeFi, where once the DeFi platform running will be distributed back as Protégé Dividend to RET token holder wallets.

The Total supply is 269,000 RET with only 190,000 RET minted through staking. It is a TRC-20 token, using a TRX blockchain where the speed and the fee of transaction are much better compared to ERC based token.

I Totally agree with the last section. ERC network tokens stand a chance of paying higher transaction fees which in the Ethereum Blockchain is referred to as "gas fee" not big of a difference. The high network charges makes it really hard for so many projects to follow through, and I must say that if Ethereum doesn't cut down on gas fees, it may just be slamp for taxes, it's literally taxing the system with those scary figures, no difference from the monthly bank charges because hell as Ethereum rising, gas fee rises and keeps adding up, just as tax adds up on increasing salaries, but that's totally out of place, the good news is Indonesia sees fit to Introduce DeFi into its Rice Market Activities, the rice stablecoin is a good incentive and we may just be watching the Indonesia market shoot up if people Adopts this new system of purchase.

From my research, the cooperative actually came up with this idea of tokenizing premium-grade Rice, thereby taking advantage of the recent cryptocurrency bull run. Introducing rice based stablecoin gives people more access to rice (especially BULOG rice). In addition, RIC can also be converted to DeFi savings and collateral, and it guarantees RIC holders access to fresh rice at the time of exchange. Furthermore, since the stable Asset is backed by BULOG’s purchase order (voucher) with no time expiration. 1 RIC cryptocurrency equals 1Kg of premium grade rice, and more rice stablecoin will be launched in the future with different rice grades ( as reported). If you ask me, 1kg of rice ain't bad for 1 stablecoin, get a few more figures up to 10, which is much likely $10 and that equates to 10kg of Rice, literally a friendly price rate.

The project also benefits BULOG and the Indonesian government, as it creates consumers-based data, optimizes the agency's rice procurement and the most important thing is that it would reduce the government's yearly budget loss, cooperative confirms this. From the instance of cuting down expenses, Crypto with DeFi can actually generate revenue, fuel a better system of disturbing, and finally obtain a more decentralized system of transactions, that's all what the world needs.

Final Thoughts.

This will not only generate good revenue for the Indonesian nation, it will also bring more population exposed to the Crypto-sphere, the awareness of this decentralized world would push aside so many finance casualties and in general the world's economy will benefit.

The Future Is Now!

Thank You For The Attention Up Until Now

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