The Bank for Agriculture and Agricultural Cooperatives (BAAC) in Thailand has announced its plans to establish an e-commerce platform. The platform will be built on the foundation of blockchain technology to ensure transparency and fairness, according to 42 year old Deputy Finance Minister Julapun Amornvivat.
The Deputy Finance Minister highlighted the prevalent issue in the country where the majority of profits from crop exports are pocketed by vendors, leaving farmers incurring losses. The e-commerce initiative is primed to address this imbalance, aiming to create a fair profit-sharing system between farmers and vendors.
Upon the successful implementation of the system, it is expected to mitigate farmers’ losses through better control of production. Initially, the platform will focus on coffee, recognising Thailand’s position as a…
