LOCALAGRO PLATFORM DESCRIPTION

LocalAgro is an ecosystem for producers and consumers of food products created based on many years of experience of professionals in the agro industry. The platform will become a simple and convenient mechanism for conducting transactions for the sale of food products ranging from small volumes, including deliveries to the final consumer, to bulk parties in the local market to meet the needs of entire regions.

 

At its core, our platform is a kind of Uber for the agro-industrial market with all facilities for direct relations between suppliers and consumers of food products and services based on mobile services with decentralized components.

 

Our mission is to build direct relationships between agro-producers and consumers, using the latest technology.

 

The LocalAgro platform is based on blockchain technologies designed to transform the oldest businesses into smart and digital business models.

 

Industry Problems

Despite the possibility of direct trading, market participants face a number of challenges:

• Lack of information about market participants and lack of modern mobile platforms for searching and offering goods and services;
• The need for thorough knowledge and understanding of domestic legislation and trade rules;
• The need to engage highly qualified specialists, lawyers, and economists;
• The presence of intermediaries with high interest rates which often preclude direct contacts between food producers and consumers;
• Lack of production capacity;
• Bureaucracy that presents an obstacle to selling goods, which leads to inevitable losses due to the short shelf life of food products;
• A significant imbalance in food supply towards more developed countries;
• Lack of a developed banking structure in 60% of countries producing agricultural products;
• Lack of local mobile payment systems
• Lack of contract trading opportunities for small and medium producers and consumers in remote regions;
• Lack of established links between producers and local consumers.

 

Solutions

The LocalAgro platform created to solve the listed problems, help food producers independently find buyers on the local market, and avoid unfavorable conditions for cooperation with numerous intermediaries, traders, and brokers.

 

LocalAgro is an international platform with B2B and B2C elements for trading agricultural products, and for offering services within the agricultural industry. Members of the LocalAgro community will be able to make transactions among themselves, make exchanges, share related information, and track the dynamics of food prices in different parts of the world.

 

The platform's internal cryptographic currency - LAC (local agriculture coin) - based on blockchain technology. The LAC will become a means of settlement between members of the LocalAgro community.

 

The LAC will become the main means of payment between market participants and be an opportunity to provide guarantees for transaction participants when making deliveries thanks to the escrow system.

 

The initial cost of the LAC will be equal to one tenth of a US dollar, 1 LAC = 0.1USD.

 

During the ICO, the LAC will be sold and distributed within the LocalAgro platform. LAC can be purchased for US dollars, BTC, ETH, and a number of other currencies. After the initial coin offer, LAC will be used within the platform as well as in external exchanges.

 

As the project develops based on the preliminary agreements reached with one of the European banks, the LocalAgro platform will significantly expand the capabilities of its payment system and plans to issue two types of plastic debit cards for members of the community.

 

Using these cards community members will be able to use cash withdrawal services in fiat currencies, payment services, and LAC transfers between card and account holders at the partner bank.

 

We plan to use LAC in our other exciting projects.

 

Our team thoroughly thought out all the business processes in financing, logistics, storage, insurance, quality control, and quantity of products. Many of these processes will work on blockchain technology for the effectiveness and speed of the advancement of the platform.

 

Having tested all the similar sites, we concluded that they provide services only of a local nature, hence are not designed for real trading and obtaining results, but are primarily informational.

 

We offer a comprehensive solution in the field of local food trade and provide necessary services for industry participants.

LocalAgro will allow small and medium producers, traders, and consumers up to end customers from anywhere in the world to conduct mutually beneficial transactions. At the same time, we guarantee the security of payments using the internal cryptographic currency LAC and smart contracts, as well as guarantee the safety and delivery of goods at their destinations thanks to reliable services based on the LocalAgro platform.

Any producer or consumer can sell or buy products on local markets anytime anywhere using a smartphone and not worrying about logistical problems, cargo safety, and financial losses.​

 

Main Objectives of LocalAgro

LocalAgro is a platform that combines and takes into account the needs of farmers, small and large food producers, traders, investors, sales networks, large and small shops and catering enterprises, all the way to the end consumer.

 

We provide each participant with the opportunities and tools that make up a fully-fledged chain of streamlined processes to ensure the operational activities of the agricultural industry.

 

The main objective of this platform is to connect the producer and the consumer, avoiding the long chain of middlemen.

 

Here is what LocalAgro offers:

• Ensuring direct relationships between participants in the agricultural market

• The ability to conduct quick transactions using internal decentralized currency

• Guarantees for transactions within the platform

• Quality control of transactions and eliminating contradictions between participants

• Promoting information on goods and services within the agricultural industry

• Ensuring lower costs for intermediary services in local transactions

• Full transparency and purity of transactions between market participants

• Opportunities for charity events and events with the participation of international foundations and private individuals.

 

 

The key features of the LocalAgro platform are:

• vSimpler transactions with the help of a smart contract and the use of digital security elements and guarantees of their execution

• vEfficiency and economic benefit for all participants in trade transactions

• vSecurity and transparency of transactions based on blockchain technology.

 

Producers get an opportunity to sell their products as profitably as possible anywhere anytime. Buyers can directly buy goods and receive the necessary services in the required quantity and quality. The platform becomes the guarantor of the transaction between the two parties using smart contract technology. The platform provides all the necessary logistical services, product quality control, and financial support of the transaction, giving producers and consumers more opportunities in the field of foreign economic activity.

 

How the Platform Works

Once registered on LocalAgro.com user becomes a member of the LocalAgro community with full access to the platform listing. He will be able to search listings, post new products, give feedback, and make transactions.

LAC coins will be used directly through the payment-processing platform. Along with other payment methods, both sellers and buyers will complete a smart contract.

 

LocalAgro will work with logistical partners to guarantee the transaction and organize the delivery of goods.

 

Smart-contract funding amounts, including LAC coins, will be put on hold until buyers receive the goods. Once received and confirmed, the smart contract will be closed and funding released to sellers. LAC coins can be used for future transactions or withdrawn via provided payment processing service or external exchange service.

 

LocalAgro built on strong security to be sure that it will provide a safe environment for transactions between suppliers and consumers.

LocalAgro will be audited and comply with local laws and regulations.

LocalAgro is cloud based and will be built across the major EMEA, APAC, and AMER markets to provide secure, accessible environment for all agro producers, consumers, logistical and distribution partners.

We have created a working prototype (MVP) of the LocalAgro platform (LocalAgro.com) for our means and started testing the listing platform and community structure elements.

 

Example of Transaction

User John, who grows garlic near Alexandria (Egypt), created an account on the LocalAgro platform and selected the category "SELLER". John uses our mobile application on his Android phone or iPhone. By creating an account John passed the initial two-stage verification (email address + phone number).

He places a proposal in the platform listing, indicates his location (which the system will automatically determine by GPS), contact details (phone number, Skype, WhatsApp, etc.), adds a brief description of his product, price, minimal amount, and a few photos with images of his garlic in the package and without it.

Once John's listing appears on the platform, the system will attach it to the global map and make it searchable. The system will post the listing on all the leading social networks - Facebook, Telegram, Twitter, etc.

Bob from Cairo (Egypt), who has a small vegetable shop in the local grocery market, registered on the system as a "BUYER" who is interested in small wholesale deliveries of garlic. He discovers John's listing on Facebook (or by searching the listings). He follows the link to the listing of the LocalAgro platform and instantly gets the opportunity to discuss all the terms and conditions of delivery with John on our platform messenger or through another channel of communication (Telegram, WhatsApp, Facebook, or mobile communication).

If John and Bob agree on the terms and conditions, they will sign a smart contract by filling out a simple form provided by the system, which indicates all the data necessary for delivery and payment to the LAC. The signed smart contract will be offered to platform accredited logistic and insurance partners to fulfill the contract.

Bob, the buyer, pays in full. The paid amount is placed on hold to fulfill obligations to the food producer, insurance, Transportation Company, and distributor.

Once the food has been delivered and all contract conditions have been confirmed as met, the smart contract is closed as completed and payment is made to John and other participants in this transaction.