The current process of using the CPR has significant shortcomings:
Producers are constrained to buy products from only one distributor due to the non-fractionability of the note, limiting their ability to choose the best product or supplier option.
Often, producers face costs higher than those mandated by law. While the regulation sets a rate of 1%, many end up paying as much as 4%.
There is also a loss of control over the CPRs issued by the producer.
With our solution, we overcome the core challenges of the sector as detailed below:
CPR Tokenization: Through the fractioning of the Note, we ensure that the producer allocates the received amount solely to agricultural inputs, while simultaneously providing more options for market agents.
Marketplace: We've developed a platform that offers producers a broad spectrum of products and services, expanding their choice possibilities and minimizing transaction costs.
Agent Integration: We promote interaction among the sector's main stakeholders, encompassing traders, financial institutions, and agricultural input suppliers
One of our biggest challenges was achieving interoperability among various blockchains, both public and private.
We chose a token exchange model based on the 'hashed time lock' contract.
The implementation of new protocols also emerged as a significant hurdle.
The lack of a protocol analogous to Infura to access Lachain exacerbated this challenge because we use our smartwallet, allowing users to create a wallet using a social email, to simplify adoption for those not familiar with web3.