The problem AgroBits solves

It is a well known problem, how small scale farmers suffer for credits, and thus lack of credits result in lack of production and downfall of their economic conditions.

We created a website where people can buy and sell stocks. We have stocks of various crops. Currently seven different stocks i.e., wheat, paddy, soyabean, rajma, sugarcane, bajra and maize are available.

An year is divided in two seasons, one form January to June and other from July to December. Fresh stocks are available at the beginning of every season. Stocks quantity is fixed but the price varies with time and other factors affecting that particular crop production. Time tends to increase the price of the stocks and other factors may increase or decrease the price.

The money thus collected by the stocks are given as credit to the farmers at reasonavble rates for agricultural use.

At the end of season, farmers are to repay back their loans and users' stocks are reduced to zero and they are paid the price of the current value of their stocks. ( during the season, customer can sell their stocks at the current price).

Thus new season begins and the cycles continues again.

we have used Tezos to provide security to all the transactions. Since blockchains are highly secure so our system gives a very high level of security to the customers.

As the number of people investing in stocks are substantially high, it can be assumed that the financial stability will be present in he system.

It will be totally new for the Indian agriculture to get investments this huge in size and it can substantially increase the production and thus solve the issue of POVERTY, HUNGER and ECONOMIC GROWTH.

Challenges we ran into

We faced some problem writing Tezos script, but we were able to overcome that using the guides.