UNICEF To Invest In An Indian Blockchain Startup Trying To Solve Food Wastage
The United Nations International Children Emergency Fund (UNICEF) has been on the look out for global solutions using blockchain technology for sometime now and recently picked 6 companies from emerging economies to help them achieve their goal.
StaTwig, a Hyderabad based blockchain startup has been picked out of 6 companies from emerging economies. It's an amazing moment for the company as it hopes to solve some global challenges due to food wastage using blockchain tech.
According to a report in THI, the company was founded in 2016 by Sid Chakravarthy and it will utilise it's blockchain cloud platform which blockchain and IoT technologies to monitor and track products in the extended supply chain.
With a turnover of Rs 1.5 crore, StaTwig started off with their project against food waste in the late 2016, in 2017 a project collaborating with the University of California and government of AP to track fish from Antarvedi and other coastal cities to international markets of Dubai and Singapore "That's where we used our Blockchain technology for the first time," said Sid Chakravarthy, founder and CEO.
The solution will help UNICEF's needs as it will help reduce food and vaccines going wasted in storage and transportation. About 30% of the food gets wasted during transportation and 50%-60% of the vaccines are said to lose their efficiency by the time they get to those who need them.
StaTwig's platform will extract data from multiple sources including sensors and existing data stores, analyses it using machine learning techniques, and provides actionable insights.
It will allow customers to track these products which are in the extended supply chain. This process will be continuous. It will also record product health info in a tamper-proof data registry continuously. The permission to information will be be on-demand but prevent third party interference with the data or contracts.
"Problem with vaccines is that there is a lot of wastage, they get spoiled when they get exposed to high temperatures and they are a lot of expired vaccines in other supply chains. There is a high risk of children being infected if children get vaccinated with one of these products. We try decreasing this, to provide efficient and healthy vaccines and healthy food at the right time at the right place," Chakravarthy added.
StaTwig have participated in programs in different regions of the world such as the Air maker program in Singapore, book camp in Hartford, Connecticut and ETC laps in Saint Francis.
Out of 100 applicants from over 50 countries, StaTwig was selected. It's truly amazing that an Indian company will find someone as UNICEF investing in it to help take their technology across the world.
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Yeah! I am the first commentor of this Post.
I love their initiative and motto behind this Startup and I am glad that an Indian Startup got attention of the UNICEF. The Guys are really awesome and I hope the Government will also understand the Need of Blockchain technology for our Country sooner or later...
Thank You & I really appreciate it :-)
That’s an great news for India blockchain community
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That sounds like an exciting project looming!
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