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Digital marketplace and FinTech to Support Agriculture Sustainability

Collection:
Agricultural Communications Documentation Center (ACDC)
Contributor:
Anshari, Muhammad (main author), Almunawar, Mohammad Nabil (author), Masri, Masairol (author), Hamdan, Mahani (author)
Format:
Conference paper
Publication Date:
2019-01
URL:
https://doi.org/10.1016/j.egypro.2018.11.134
Published:
Elsevier
Location:
Agricultural Communications Documentation Center, Funk Library, University of Illinois
Subject Term:
agribusiness, communication methods, consumers, finance, information dissemination, markets (selling), sustainability, technology, digital, social media, e-agriculture, online communication
Notes:
5 pages., 2018 5th International Conference on Power and Energy Systems Engineering, CPESE 2018, 19–21 September 2018, Nagoya, Japan, via online journal., Agriculture plays an important in providing food security and sustainability for the people in any country. However, lack of funding and limited distribution channels to reach customers are frequent problems faced by farmers to meet the level of sustainability. Agriculture’s sustainability can be strengthened by allowing an innovation of services such as Financial Technology (FinTech), and digital marketplace. Digital marketplace with Fintech enabled might transform agriculture’s business process into more sustainable in term of funding and distribution. FinTech offers farmers convenient ways of getting sources of funding through crowdfunding and digital payment system. Thus, digital marketplace can act as a platform for FinTech to integrate the innovative financial solution into broader agriculture’s ecosystem. The study proposes a modelling digital marketplace with FinTech enabled especially crowdfunding and payment system in order to support agriculture’s sustainability. The model connects all actors (farmers, landowners, investors, and consumers) into a platform that can promote transparency, empowerment, resourcefulness, and public engagement in agriculture.