AgUnity and Etherisc to develop blockchain solutions for farmers

Australian technology developer AgUnity and Etherisc, an InsurTech startup developing a protocol for decentralized insurance applications, announced today that they have signed a Memorandum of Understanding (MOU). The agreement underlines the commitment of both parties to align their technologies in order to offer their services to the inclusive finance space.

“Our experience working on insurance solutions for emerging markets in Asia and Africa taught us that the last mile distribution is one of the crucial challenges in providing adequate protection for farmers, which is exactly what AgUnity can help us overcome,” says Michiel Berende, Chief Inclusive Officer of Etherisc.

Both companies are using blockchain technology with the aim to allow multiple parties to work together in a transparent way and ensure those who live in poverty access to relevant, impactful functions and services in a way that matches their needs and digital skills. Together the companies will work to bridge the gap between available insurance products and smallholder farmers in emerging markets who have limited access to insurance in order to solve the last mile challenges in delivering crucial insurance products to those who need them most.