Unstoppable Domains has partnered with blockchain-based platform Farmsent to introduce a new Web3 domain, “.farms”, aimed at enabling farmers to accept cryptocurrency payments and create a digital identity. This initiative is designed to empower small farmers by providing them with direct access to global markets, bypassing traditional intermediaries and leveraging the benefits of blockchain technology.
Points
- Unstoppable Domains launches the “.farms” domain to help farmers accept cryptocurrency payments.
- The partnership with Farmsent aims to eliminate intermediaries in the agricultural supply chain.
- The initiative empowers small farmers by providing them with a digital identity and access to global markets.
- The “.farms” domain supports over 275 tokens for transactions.
Unstoppable Domains, a leader in Web3 domain services, has embarked on an ambitious project to revolutionize the agricultural sector by enabling farmers to accept cryptocurrency payments through a new top-level domain, “.farms”. This initiative is part of a strategic partnership with Farmsent, a blockchain-based marketplace focused on connecting farmers directly with consumer-facing businesses.
The “.farms” domain offers small farmers a unique digital identity, allowing them to bypass traditional intermediaries and engage in direct transactions with global buyers. This digital identity is more than just a web address; it serves as a gateway to the world of decentralized finance （DeFi）, enabling farmers to receive payments in over 275 supported cryptocurrencies. By adopting this technology, farmers can not only expand their market reach but also gain access to capital and resources that were previously out of their grasp.
Farmsent CEO, Yog Shrusti, emphasized the transformative potential of this partnership, particularly for small-scale farmers who often face significant barriers in accessing global markets. The traditional agricultural supply chain is rife with inefficiencies, with intermediaries often taking a substantial cut of the profits. By leveraging blockchain technology, Farmsent and Unstoppable Domains are dismantling these barriers, providing farmers with the tools they need to succeed in a decentralized economy.
The introduction of the “.farms” domain is a key component of Farmsent’s broader strategy to empower farmers through technology. The platform utilizes non-fungible tokens （NFTs） to create digital representations of bids, ensuring the authenticity and traceability of farm products during auctions. This innovative approach not only enhances the credibility of the products being traded but also secures the bidding process, making it more transparent and fair.
Unstoppable Domains COO, Sandy Carter, highlighted the significance of this initiative in showcasing the power of blockchain technology. By providing farmers with a secure and decentralized platform, Unstoppable Domains is helping to level the playing field, allowing small farmers to compete on equal terms with larger, multinational corporations.
解説
- Empowering Farmers: The “.farms” domain gives small farmers access to global markets and the ability to transact in cryptocurrencies, providing them with financial autonomy and greater control over their products.
- Blockchain Innovation: The use of NFTs for securing the bidding process and ensuring product authenticity demonstrates the practical applications of blockchain technology in agriculture.
- Market Expansion: By enabling direct transactions between farmers and buyers, this initiative could significantly reduce costs and increase profits for farmers, fostering a more sustainable and equitable agricultural economy.