Micro, small & medium enterprises (MSMEs) are a critical component of the economic fabric in developing economies. Collectively these businesses represent the single largest factor determining the future growth and prosperity of the world’s emerging economies.
This sector currently suffers from restricted access to business resources, market information, sales opportunities and financial services. And, notably, from a stark under-participation by women owners. Ethitrade was established to power inclusive economic growth on a global scale.
Consumers are increasingly demanding more information and seeking assurances that the goods they purchase are safe and ethically produced. Many emerging economy micro, small and medium enterprises (MSMEs) struggle to provide this level of information in a provably authentic way.
Partnering with The Asia Foundation and DFAT, Ethitrade have developed a blockchain-based provenance platform. The platform was initially piloted with dragon fruit supply chain participants in Vietnam. Farmers, traders and exporters used a simple mobile interface to enter transactions and upload certifications, with data then stamped to the blockchain. Consumers in Australia could scan a QR code to view the journey of that piece of fruit through the supply chain.
By digitally tracking goods from farm to plate, the Ethitrade platform provides consumers full access to relevant information and delivers supply chain participants greater insight into their business performance. Through such projects, Ethitrade is working to digitally uplift emerging economy MSMEs with a focus on identity, provenance and access to markets.
Ethitrade is proud to be partnering in the delivery of an Australian aid initiative implemented by The Asia Foundation, Vietnam on behalf of the Australian Government. Ethitrade are also supported by an Innovation Connect grant from the ACT Government.