Smartlands, worldwide platform to tokenize agriassets, has announced that it will be integrating with Stellar, an open source blockchain network, to support its cryptocurrency platform for agricultural projects. The decision to integrate with the Stellar network rather than build its own standalone blockchain solution greatly accelerates the development of the Platform and achieving its goal of transforming agricultural investments worldwide.
Smartlands recently announced that it would be hosting its Initial Coin Offering (ICO) on the Stellar network, which is beginning on November 2, 2017.
“Our initial strategy was to build what we needed from the ground up”, said Victor Yermak, Chief Technology Officer for Smartlands. “But our discussions with Stellar regarding the ICO showed us that they had already created the operational environment we can readily use with minor amendments.”
The Stellar network is an open-source protocol that enables the seamless transfer of value and allows developers and entrepreneurs to create innovative financial products. Depending on hardware and network configurations, a conservative estimate of Stellar’s processing rate is 1000 operations per second.
Smartlands is designed to promote investments in the agricultural sector by allowing investment in individual projects, agricultural companies or indexes of groups of projects. These investments will be fully collateralized by agricultural real estate, other productive assets such as fruit or nut trees or, in some cases, other assets.
By giving small farmers, who are responsible for 80% of worldwide food output, access to capital at attractive rates, Smartlands intends to measurably increase global food output while improving environmental results. This goal is promoted by the creation of stable value cryptocurrency investments designed to improve investment performance in a diversified portfolio.
Smartlands decision to use the Stellar network also demonstrates its commitment to provide agri-tech community with the best technological practices.
Smartlands believes that information technology will lead the next advancement in agricultural production. Integrating with the Stellar network is a perfect example of how Smartlands intends to use existing information technology to become more efficient.
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