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Sanchay Mittal

Fintech Solutions to Support the Agricultural Sector

The problem Sanchay Mittal solves

  1. Banking the Unbanked - The financially excluded smallholder farmers who doesn’t have bank accounts access to financial services will be able to receive payments in Eth/DAI or Fiat. Also, the reputation model will act as credit history, showing which the farmers and SMEs can raise the loan.

  2. WW3 - Whatsapp | Web3 Integration - Using their whatsapp enabled phone, farmers can interact with the online marketplace with ease. This solution especially takes into consideration the Women Farmers, who can not be a part of this value chain when it comes to post-harvesting period, due to social boundations and their daily responsibilities.

  3. Online MarketPlace (B2B & B2C) -
    This market has three components:
    a) Buyer-Seller ( At the market Price)
    b) Sell-Order (At farmer proposed price)
    c) Buy-Order ( At Investor proposed price)

Challenges we ran into

Yeah, sure!! It was a circus guys! We had started with the market research, and UML Diagrams, Business Rules. In the first hours of the hackathon. But down the road, we felt down into quite many labyrinths, during the past 24 hours.

Brief Description of the Challenges we faced:

  1. While Writing Contracts:

Our contract addresses many actors, and there is whole value-chain carried out by the smart contrtacts. And it was long process, we hit several logical errors while building. And once our build was completed, we moved to the second phase of our project i.e. Implementation of lending-borrowing (Using MakerDAO). Then it was a game on another level, as our requirements were different from the traditional Use Case of MakerDAO. We tried revamping the whole contract according to our logic but failed several times.

  1. Implementation of Algorand:

The data integration was the troublesome part here. We used algorand for carrying the whole supply chain on the Algorand.

  1. Whatsapp Bot

The use of twillio sand box was easy, but then we were having a hard time structuring the smart contracts which will register the information received by the Whatsapp Bot.
We would have preferred SMS ( i.e. Offline service) but it would have cost us, and we thought to wait for it until we receive the grant.

  1. Securing the Private Key

This was a very logical concern, that ate almost 4 hours of our hack time. We were tinkering around with different available options online. Then we finally implemented nucypher protocol. Which secured our private key.

Discussion