New onchain domain extension enables over 20m food producers worldwide to establish a secure digital identity and accept crypto transactions, in a major leap forward for Farmsent's mission to ensure fair reward for the world's farmers.
SAN FRANCISCO, CA / ACCESSWIRE / August 13, 2024 / Unstoppable Domains, the world's largest onchain domain provider, is helping the world's farmers cut out the middleman and get a fair price for their produce, thanks to its new partnership with Farmsent, a farmer-centric blockchain that will help to facilitate food trade and food security around the world.
Farmsent is the blockchain for the global agriculture sector, harnessing the power of decentralization to build a global onchain marketplace that connects farmers directly with consumer-facing businesses. To support this revolution, Unstoppable has provided a new onchain top-level domain (TLD) ".farms," which will be a crucial component of Farmsent's mission to revolutionize global agriculture and food supply chains.
The new TLD enables any food producer of any size to create a unique digital identity tied to .farms, which they can use to transact directly with buyers anywhere in the world. Other key benefits include the ability to send and receive cryptocurrency payments across more than 275 supported tokens.
"The global agriculture system is deeply flawed, with small farmers disproportionately impacted by unfair pricing and market dominance by large corporations," said Yog Shrusti, CEO of Farmsent. "Farmsent is creating a decentralized marketplace that empowers farmers to sell directly to consumers, cutting out exploitative middlemen. Traditional crypto wallets present a barrier to entry for farmers, so we've introduced the .FARMS TLD to provide simple, accessible digital identities. This empowers smallholders to access capital, expand their farms, and overcome the limitations of centralized systems."
Farmsent has rapidly gained traction since its launch, successfully onboarding over 160,000 farmers from Indonesia and Colombia. Currently in beta, the platform is already facilitating the trade of coffee, avocado, and palm sugar between these countries, the UAE (where Farmsent is licensed), and Indonesia. With plans to expand into three additional major markets, including one of the world's most populous nations, Farmsent is poised to revolutionize global agriculture.
"Farmsent is a testament to the transformative power of the blockchain," said Sandy Carter, COO of Unstoppable Domains. "We're proud to provide Farmsent with a home on onchain, enabling them to give users a unique digital identity they can use to trade securely and on equal terms with major, multinational competitors."
In addition, as a new partner of Unstoppable Domains, Farmsent will join over 15 blockchain-based companies, including leading crypto finance house Blockchain.com, in strategizing and applying to the upcoming Internet Corporation for Assigned Names and Numbers (ICANN) general Top Level Domains (gTLD) application round in 2026.
For more information, please visit: unstoppabledomains.com
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About Unstoppable Domains
Launched in 2018, Unstoppable Domains is a Web3 domain name provider and digital identity platform working to onboard the world onto Web3. Unstoppable Domains offers Web3 domains minted on the blockchain that give people full ownership and control of their digital identity with no renewal fees. With Unstoppable Domains, people can replace lengthy alphanumeric crypto wallet addresses with a human-readable name and log into and transact with more than 720 apps, wallets, exchanges, and marketplaces. The company was named by Forbes as one of America's Best Startup Employers in 2022.
For more information, please visit: https://unstoppabledomains.com/
About Farmsent
Farmsent is a blockchain platform designed to connect farmers directly with buyers, with a focus on empowering small farmers and ensuring food security.
For more information, please visit: https://www.farmsent.io/
SOURCE: Unstoppable Domains
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