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Software Company BanQu: Making the Unbankable Bankable
Access to financial services like bank accounts and credit through platforms like BanQu is one of...
December 24, 2020
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Cornell Chronicle | March 13, 2019
Talking Blockchain at the Cornell Business Impact Symposium
At the 2019 Cornell Business Impact Symposium, BanQu CEO and co-founder Ashish Gadnis shared how blockchain technology has the power to make the world a better place for impoverished farmers in third-world countries.
On March 9, 2019, BanQu CEO and co-founder Ashish Gadnis spoke at the Cornell Business Impact Symposium. There, he explained blockchain, and how this technology is improving the lives of impoverished farmers.
Impoverished smallholder farmers produce crops and supply large companies with raw materials that ultimately land with the world’s consumers. Middlemen acquire the materials, and farmers are easily defrauded with partial payments. The farmers – a majority of whom are women – remain poor.
With blockchain, each point along the material’s distribution trail includes full information on the product and payment information. Gadnis showed how his blockchain software creates a “distributed ledger” – which cannot be destroyed or manipulated – between the farmers, the middlemen and the company.
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