Visa Targets $125bn Brazilian Agri Industry
In an interview, Catherine Gu, Visa’s head of CBDCs and protocols, revealed that the firm developed a platform to help Brazilian farmers in negotiating contracts better. However, she adds this is just the “tip of the iceberg” meaning a small part of a much bigger problem for CBDCs.
Through its programmable platform, Visa seeks to provide farmers better access to a global pool of investors for financing to improve price discovery for their goods. Specifically, it facilitates farmers to auction off a tokenized contract on a permissioned version of the Ethereum blockchain.
Gu clarified that most CBDC pilots are being done in a permissioned way highlighting that Visa wanted to demonstrate how a set of private actors could come together to set up a node.
(With inputs from Shikha Singh)
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