WCC Evolv | November 12, 2018

BanQu and AB InBev Celebrate Their Partnership at World CryptoCon

Ashish and AB InBev celebrating their partnership at World CryptoCon

Ashish Gadnis, BanQu’s co-founder and CEO, and Katie Hoard, Global Director of Agricultural Innovation & Sustainability at AB InBev, attend World CryptoCon in Las Vegas to explain how their companies are using blockchain technology.

At World CrytoCon in Las Vegas, Nevada, BanQu’s Ashish Gadnis and AB InBev’s Katie Hoard talk about how the partnership between these two companies is helping cassava farmers in Africa. Not only does a blockchain record help brewing companies make sure their ingredients are sourced from responsible, sustainable farms, but it gives farmers financial leverage that reduces their costs and risks.

Ashish Gadnis explains:

The reason why these “mama farmers” are left out – or even refugees are left out – is because they’re not able to prove their existence in the world supply chain. If you can’t prove your existence in the supply chains, you’re unbankable… Using blockchain… the mother can now prove how much cassava she has sold. If she can prove that, and she can prove that she’s been selling it to AB InBev, now she becomes suddenly legitimate in the eyes of the banks and the financial institutions.

Katie Hoard adds:

Even with these financial institutions, if they are lending to farmers, the interest rates are huge… So this is really creating that space where you’re taking away risk for everyone who’s operating within that blockchain.

Watch the full video below:

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