AB InBev Brewing Company Will Use BanQu Blockchain Platform

The international brewing company AB InBev, which owns the Budweiser, Stella Artois and Corona brands, will useblockchain for working with African farmers supplying raw materials.

Due to the lack of developed banking in Africainfrastructure, local farmers face difficulties in obtaining tax benefits. Thanks to the new blockchain solution developed by the BanQu startup, barley and malt farmers will be able to track their supply chains, report income to local banks, and open bank accounts and receive loans.

“Farmers who have never worked with banks,documentation and tax reports will be entered into the blockchain-based system. Now they can prove that they supply raw materials to the international company AB InBev without unnecessary workflow, ”said Carlos Brito, CEO of AB InBev at the World Economic Forum in Davos.

He added that receiving funds from banks,local farmers can purchase improved agricultural equipment, which will increase the efficiency of harvesting and bring them additional income. In addition, the system, which is already in use by thousands of farmers in Uganda and India, will eliminate corruption among intermediaries that supply raw materials to breweries.

Blockchain is becoming increasingly popular in the field ofAgriculture. For example, in September 2018, American farmers began to use technology to track the supply of dairy products, and in September last year, 12,000 coffee farmers from Honduras began using the blockchain.

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