The logistics venture, which was carried out with the United Nations Development Program (UNDP), is backed by Convergence.tech’s Backbone, a monitoring platform developed and hosted on Ethereum blockchain.
Convergence.tech has decided to concentrate on cashmere herders for its trial, as several of these individuals experience tough working environment and income inconstancy.
Furthermore, the fashion supply chain has shortcomings in transparency, making it complex for clients to realize where cashmere products are produced.
Convergence.tech CEO, Chami Akmeemana, told betakit:
“The nomadic community is one of immense pride but one with a volatile and unstable income. Leveraging blockchain technology within the transformation of the cashmere industry can provide numerous benefits for Mongolian herders, buyers, and sellers alike.”
To resolve the absence of transparency confronting the cashmere sector, Convergence.tech developed a mobile app for Android gadgets. The app permitted farmers to record their cashmere bales. In the same period, bales and packaging receipts were fitted out with radio-frequency recognition labels utilized to trace info to guarantee the whereabouts of products.
The data received through tracking, merged with blockchain technology of Backbone, permitted utilizers to observe the route taken by cashmere during its production lifespan. Utilizers could also observe the ecosystem impact data created to guarantee that legal raw cashmere was sourced.
Akmeemana stated Betakit that the conclusion drawn by the company was large enough to motivate ideas to popularize the app in other regions:
“Our learnings are pretty significant on this, and that’s why everything was around watching from afar. But now that that’s completed, we’ve been going around the world. We were in Singapore and Bangkok a couple of weeks ago presenting to the UN, USAID (the United States Agency for International Development), the World Bank, et cetera. So now we’re going to start seeing a lot more applications coming out.”
Established in 2018, Convergence.tech has long ago created a blockchain powered land record for the state of Haryana in India. The company also carried out an endeavor in Afghanistan to implement blockchain within prevailing police payroll platforms.
Convergence.tech intends to initiate several ventures in the months ahead, as the firm recently received a suggestion to carryout work in Peru and are looking for chances to combat climate change.