The United Kingdom-based charity organization Oxfam International announced the success of its blockchain-based delivery system of microinsurance to paddy field farmers in Sri Lanka.
In a Nov. 4 press release, Etherisc announced that Oxfam’s blockchain-based insurance system had made pay-outs to Sri Lankan farmers who continue to risk losing their crops due to extreme weather events. Blockchain reduces costs and increases pay-outs Oxfam in Sri Lanka, together with its partners Etherisc and Aon plc, will now continue to seek solutions to some of the challenges that will present themselves as the new cropping season starts in the month of November. In the past, issues such as lack of affordable and reliable insurance products, a lack of understanding about how insurance would help a farmer survive, and when and how a claim would be paid, have always acted as major barriers that prevented farmers from utilizing insurance. However, the use of blockchain technology can transform and simplify the insurance claims process, which results in reduced administration costs and a higher percentage of premiums being used for fully trusted pay-outs. Chief inclusive officer at Etherisc Michiel Berende said: “We are proud to have real-world, on-the-ground success from a blockchain solution for microinsurance [...] We are delighted with the first phase results and we are excited to drive on and help more farmers.” Oxfam continues to use stablecoins to distribute aid In June, Oxfam partnered with Australian tech startup Sempo and blockchain company ConsenSys to test stablecoin Dai’s (DAI) suitability for aid in regions suffering from natural disasters. With the support of the Australian government, a philanthropic initiative was launched and dubbed UnBlocked Cash. Oxfam and Sempo reportedly chose the world’s most natural disaster-prone country, Vanuatu, to test the system. In September, Oxfam initiated the pilot program’s second phase to further distribute disaster relief. Joshua Hallwright, Oxfam Australia’s humanitarian lead, told Cointelegraph in June that it was “highly likely that Oxfam will use stablecoins or other distributed ledger technologies to provide cash aid in disaster responses in the future, either in Vanuatu or elsewhere.” Source - https://cointelegraph.com
ScaleAgData Stakeholder Engagement Event
22.10.2024The ScaleAgData project is pleased to invite you to our second stakeholder event. Building on the discussions and connections formed during our first webinar, this event will focus on fostering collaboration among stakeholders, providing updates on our project’s progress, and outlining future opportunities for engagement.
Moldova - May frosts caused heavy damage to fruit orchards
10.05.2026The first frosty nights of May have significantly worsened estimates of damage to Moldova's fruit sector from spring frosts. According to initial assessments by fruit market operators, between a quarter and a third of the country's total orchard area was seriously affected.
More than 2,100 hectares of crops damaged by rain in Bangladesh
Heavy rainfall over the past week and runoff from upstream areas have damaged crops on more than 2,109 hectares in the Sylhet region of Bangladesh, affecting 22,406 farmers, according to the Department of Agricultural Extension (DAE).
USA - USDA reversal on crop insurance change welcomed by farm groups
The U.S. Department of Agriculture is reversing course on a change to a federal crop insurance policy to allow farmers to buy more protection if weather or field conditions prevent them from planting a crop.
Nepal - Chitwan National Park Distributes Over NPR 12.9 Million in Wildlife Damage Relief
Relief amounting to NPR 12,998,307 has been distributed as compensation for damage caused by wild animals in settlements around Chitwan National Park.
Kenya's Meat Export Revenue Surges to KES 18.8 Billion Amid Veterinary Reforms
Driven by strict veterinary reforms, Kenya's meat exports hit a record KES 18.8 billion in 2024, securing a massive positive trade balance.
Philippines - WV backyard livestock raisers urged to register for financial protection vs losses
Backyard livestock raisers in Western Visayas are being urged to register for the Philippine Crop Insurance Corporation’s (PCIC) free Livestock Mortality Insurance program, which provides government-subsidized financial protection against losses caused by disease and other unforeseen incidents.
France - A hailstorm ravaged Ardèche vineyards and towns
Winegrowers estimated crop losses of 30% to 80% after tennis ball-sized hail damaged homes, cars and power lines.
Severe weather on July 14 damages a total of about 400 hectares in Germany
On July 14, severe storms swept through the Nuremberg region and the Upper Palatinate in Germany. About 3,000 firefighters were deployed, and several people were injured.
Canada - Manitoba farm ordered to pay $660K after crop insurance lawsuit
MASC says it overpaid farm hundreds of thousands based on misrepresented production data in crop insurance claims, farm says it is working with the agency for a settlement, rather than appeal.
