AgriDex executes first on-chain farmland deal on Solana network
AgriDex, a Solana blockchain-based real asset (RWA) tokenization platform, has completed the first on-chain agricultural land transaction, marking a significant step forward in the application of blockchain technology in the global agricultural sector.
Transaction details:
- Transaction value: USD 165,000
- Land location:
- Payment method: Instant and free payment via AgriDex’s digital payment system
- Buyer: Undisclosed
- Seller: Sustainable Agriculture Development in Mauritius
The transaction demonstrates blockchain’s ability to simplify and speed up cross-border transactions, reducing costs and processing times compared to traditional methods such as bank transfers, which typically take days and incur high fees.
AgriDex has already completed multiple transactions involving other agricultural commodities such as olive oil, wine, coffee, and livestock. The platform aims to reduce friction in the $2.7 trillion agriculture industry, including delayed payments, high fees, and complex banking processes. By cutting out intermediaries and providing faster access to capital, AgriDex demonstrates the potential of blockchain to improve cross-border agricultural business.
In the near future, AgriDex expects to process an additional $2.6 million in agricultural land transactions and save its partners over $40 million per year in transaction-related costs, which can be reinvested in operations and growth.
The application of blockchain in agricultural transactions not only increases efficiency but also enhances transparency and traceability in the supply chain, opening up new opportunities for the global agricultural industry.
