DeFi impact on agriculture

The term ‘decentralized finance' (or DeFi) represents a shift from traditional, centralized financial institutions to peer-to-peer lending facilitated by decentralized blockchain technology. DeFi platforms function without the need for intermediaries such as banks or financial institutions, enabling individuals to access financial services directly over the internet, regardless of their location. This concept is not only innovative but also highly pertinent in the current digital age, where efficiency and transparency are particularly valued. DeFi, has become a disruptive force in the financial industry by using blockchain technology to build open, permissionless and global financial ecosystems. As an essential sector with a significant worldwide economic impact, agriculture has several obstacles, e.g. difficulty obtaining financing, inefficient supply systems and susceptibility to hazards such as climate change. But DeFi integration into agriculture offers a possible way to overcome …