Agrolend: A Blockchain implementation approach of smart contract farming platform

Abstract

This study addresses contract farming through blockchain technology using smart contracts. The issues with the current process of acquiring loans from banks, cooperatives and large organizations is the long procedure required and the high interest rates. The new system designed eliminates that process. In the study, a smart contract system was developed to connect farmer with land owners, and supply companies. The design was implemented with Ganache as the local blockchain platform used to store the smart contracts in a bid to make it immutable. The implementation was carried out using Solidity, HTML, CSS, JAVASCRIPT, and Truffle JS. The developed system ensures farmers start agricultural projects without going through the process of applying for loans but rather connecting with a land owner to lease his land for an agreed period of time and also get seeds and fertilizers from harvest companies with little or no capital.