GrainChain plans Expansion with the Symbiont’s based Blockchain Platform

GrainChain, an agricultural transaction platform with the IoT and Blockchain-powered solutions, has recently revealed its plan to expand across the globe.

The company has also revealed to scale its operations by moving to Assembly platform, the Symbiont's enterprise blockchain platform. The Assembly platform offers privacy features and scalability that the GrainChain's platform needs to meet the growing demand of its current and future markets. Previously GrainChain was leveraging Hyperledger Fabric.

Executive Opinion

Luis Macias, Chief Executive and Founder of GrainChain said, "Our mission has always been to help support farmers around the world. By pulling the agriculture supply chain onto blockchain technology, we're helping every participant in that ecosystem -- from farmers to bankers to grain elevators -- get fairer value, faster payment, and a bigger participant pool. We cannot be constrained by technology -- which is why we moved to the Symbiont network. Symbiont is the blockchain engine that will help power our global vision."

Jonathan Johnson, President of Medici Ventures and CEO of Overstock, said, "These are two powerful, purpose-driven companies coming together to bring important technology to the global agricultural community. We have ownership in both GrainChain and Symbiont because we believe in their underlying value propositions and advanced technology and the potential impact they will have on the verticals and countries in which they do business."

GrainChain's expansion

GrainChain offers a platform that keeps tracks of various commodities on a distributed ledger platform-based software solution.
The platform also aims to prevent fraud and corruption via certification and accountability, and it streamlines the process for all the participants in the market.

The company has also observed by moving to the Symbiont network that it has seen a substantial improvement in platform privacy and performance features. Thus allowed GrainChain to drastically increase the number of farmers, buyers, and grain elevators that are being serviced.

The plan for expansion comes just a few weeks after GrainChain raised an $8.2 million funding from Medici Ventures.