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Stellar Wants to Transform the Agric Sector Using Real-live Farming Models

Stellar Wants to Transform the Agric Sector Using Real-live Farming Models

Blockchain technology is gradually taking top priority in several industries, including agriculture. There are now hundreds of startups setting up a proof of concept project. Task, a mobile-first software services provider, recently launched software that uses blockchain to remit payments across borders.

Although it was a trial project, it shows that the Stellar blockchain has the capability of driving sustainability in real-life farming models.

Stellar is an open-source decentralized technology that is utilized to connect banks, payment systems, and people. The platform was designed to facilitate secure, low-cost, and fast cross-border transactions.

Driving sustainability in the Agric sector

It was founded by Joyce Kim and former Ripple co-founder Jed McCaleb in 2014, and supported by the non-profit Stellar Development Foundation.

On the other hand, Task enables users to create initiatives on the platform and set credits like stablecoins on the project’s wallet. After the initiative, the program manager will now establish the activities that will track.


The tracking includes requiring certain documents or images to show that a particular task has been complete. After the remote ream finishes the assigned task and submits the proof of concept, the t\Task portal immediately credits their wallets.

To carry out the trial project, a U.K.-based program manager who has farming communities in Thailand was invited by Task. The trial project was developed on the Stellar blockchain, which allows remittance of the funds at a significantly improved speed of fewer than 5 seconds and very low fees of $0.00002.

While speaking about the choice of the company on Stellar, Task founder and chief executive officer Steve Walker stated that one of the reasons for choosing the Stellar technology was the platform’s focus on low-cost cross-border payments. Generally, Stellar is set up to make fiat money more accessible and useful.

Transformation of the Agric sector using Stellar

And with Task payments done via stablecoins, it can suppress the volatile nature of crypto coins. As it stands, the Task platform offers support for BRLT stablecoins, Circle Internet Financial’s USDC token, as well as AnchorUSD’s USDX token.

During the trial project, Task enabled the administrator to set up an initiative to incentivize Biochar production. The company offered support for local dialects, which enable less-tech savvy farmers to have smooth interaction with the platform.

After producing the Biochar, the farmer can easily upload the document and images as evidence on the Task platform. After the platform has received the evidence, payment is released by the administrator. The system is a simple one that intends to carry all farmers along.


Famous Reuters Headline Immortalized By Oldest Bitcoin Mining Pool

Famous Reuters Headline Immortalized By Oldest Bitcoin Mining Pool

Slush Pool stands as the oldest crypto mining pool the world has to offer. The pool had opted it appropriate to put in the now-famous headline of Reuters regarding the spectacular 2020 bull run for Bitcoin within a block, doing so on the 2nd of December, 2020.

Making History

Bitcoin block number 659678 proudly displays the headline, “Dollar plummets on U.S. stimulus hopes; Bitcoin hits all-time peak.” From now on, this historic title will forever be in the Bitcoin network, and will probably be looked back on as a moment in the crypto industry’s history.

Slush Pool announced the event on Twitter, stating that the miners of the pool all wanted to immortalize the bullish Bitcoin headline coming from such a mainstream media platform. The Bitcoin blockchain will now have that title live on forever within itself.

Historic Correlation Between USD Drop And BTC Rise

The article itself was published by Reuters to highlight the US Dollar starting to weaken just as Bitcoin managed to grace into its all-time high briefly on the 1st of December. Gertrude Chavez-Dreyfuss, the columnist of the piece, made note that the USD’s tanking value ran in tandem with talks within US Congress to issue out a new COVID-19 relief bill.

Through the act of coding it into the Bitcoin blockchain, Slush Pool gave honors to the Genesis Block of Bitcoin, which held a headline published by the Times back in 2009. This title read “Chancellor on brink of second bailout for banks.” and was put there as a reminder of the weaknesses of the current financial system.

On some crypto exchanges throughout the world, Bitcoin had managed to hit a new all-time high, albeit briefly, and surpassed the fabled $19,892 mark, if only for a little bit.

Some Things Never Change

Mainstream media has taken a keen focus and interest within the crypto space ever since its renewed rally, with Bitcoin, the first-ever cryptocurrency, naturally taking a lot of the spotlight. Peter Schiff, one of the biggest crypto naysayers out there and full-blooded gold bug, had opposed all of this coverage the news agencies have over crypto.

The man went as far as to tweet on the 1st of December that the excessive coverage of Bitcoin by CNBC is a “new low” for the ethics of financial journalism.

Regardless of how much certain individuals will attempt to deny it, the crypto space is entering a new stage, with the massive institutional interest this time around making it clear that this time will be different from 2017’s bull run, it’s just not entirely clear how different it will be.