Agridex was canceled. The first on-chain agricultural land transaction on the Solana network was successfully completed.
The deal consists of a land purchase of $ 165,000 in Zambia. The purchase was immediately arranged free of charge with the digital settlement system of Agridex. Agridex is a platform based on Real-World assets with a focus on the global agricultural industry.
The payment was transferred from a buyer to sustainable agricultural development in Mauritius. This is a real example of how blockchain cross -border transactions can facilitate, making large -scale deals cheaper and faster.
For comparison: standard bank transfers can take different working days to complete and at high costs. By using the infrastructure of Solana, known for fast processing and low costs, AGRIDEX offers an alternative model to facilitate agricultural trade.
“For the first time, a contract of agricultural land was traded and established on the blockchain,” said Henry Duckworth, co-founder and CEO of Agridex. “This is a precedent to improve how agricultural real estate is exchanged and financed.”
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An industry of $ 2.7 trillion
Agridex says it is preparing for processing an extra $ 2.6 million in agricultural land agreements in the coming weeks. The company also claims that, by using its platform, partners together save more than $ 40 million a year in transaction-related costs that can be diverted to operations and growth.
This latest trade builds on earlier Agridex transactions with raw materials such as olive oil, wine, coffee and cattle. The aim of the platform is to reduce the inefficiencies that continue to influence the $ 2.7 trillion sector, including slow settlements, high costs and complex banking processes.
By eliminating intermediaries and making faster access to capital possible, Agridex claims that Blockchain could play a wider role in improving the way in which farms work across borders.
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