NAB helps farmers report ongoing Agri Green Loans using blockchain – NAB News

Australian farmers will better understand and report on the impact of their sustainability practices, thanks to a partnership between NAB and agri-tech start-up Georahusing blockchain technology.

Using technology, like Queensland farmers Leather Company NAB’s Agri Green Loan reporting agreements can be supported, with Geora integrating the company’s existing data into the blockchain. This provides a comprehensive and transparent record of the environmental impact and steps taken by the Rubber Company to reduce emissions.

On the other hand, it provides an additional level of transparency in the Agri Green Loan book of NAB and creates a reliable record that the Rubber Company can share with interested partners in the cattle supply chain.

For the Tannery Company, the data provided relates to the drying of their properties and the amount of red meat produced in the term of the loan.

NAB Chief Innovation Officer Howard Silby It is said that this plan will show how blockchain technology can help in many applications in the financial industry, including climate change.

“We believe that the elements of the future of finance will be blockchain and that technology can also help in the way we track and test our financial products related to ESG,” the said Mr Silby.

“We know that farmers are being asked by many different stakeholders to report on their sustainability efforts. Digitization and building trust through a transparent and continuous reporting system will facilitate this process and save duplication of efforts by farmers and all their supplies.

“Pau Pau Company is a good example of how the agricultural sector can use technological solutions, especially blockchain, to show affect the value of their investments.

“We are working to expand Agri Green Loan’s product offering and we are continuing to explore how technology can help make agriculture more affordable. prices we can pass on to customers who are investing in driving positive ‘green’ results.”

Owner of Melinee Leather Company, and her husband Rob, said this technology will create data to help show the impact of the Park’s ongoing activities in reducing the cleaning.

“We put a lot of hard work into improving our herds and capabilities. “Working with NAB and Geora to track this digitally means we can really prove the impact of these Green projects,” Ms Leather said.

Rob and Melinee Leather from Leather Cattle Company – Banana, Queensland

“The ability to store information using blockchain will also be useful to consumers of our cattle to show evidence of the quality of our products.”

Geora CEO and Co-founder Bridie Ohlsson said he was happy to see this collaboration between traditional banking and startups. Founded in 2019, Geora uses blockchain to provide information solutions to farmers around the world.

“The process of building sustainable agriculture involves shifting reliance from the physical world to secure digital environments,” said Ms Ohlsson.

“NAB is a key part of the industry’s most trusted network of Australian agricultural producers, and that’s one of the reasons we’re so excited to be working together.”

Creation of a stablecoin

For NAB, the press release provides a clear, searchable document that can be combined on many loans based on the green credentials of its green loan products.

Certified green grants also provide an opportunity for NAB to act as an intermediary between investors in term deposits or bonds. prospects increasing their funds to be used for green purposes and borrowers needing funds to move towards green business models.

NAB recently created a stablecoin to help digitize this connection and create more transparency for all parties.

“With our stablecoin functionality, which can be described as a guaranteed deposit, with our use of blockchain to verify our green assets, a green deposit offer is definitely at NAB’s Digital Assets product development pipeline,” said Mr Silby.

“This is a new era of transparency that is essential if we are to direct money to scale in the transition to a green economy.”

Customers looking for more information about NAB’s Agri Green Loan can find information at our websiteincluding how you can connect with one of our agricultural-banking experts.

Leave a Comment