Whrrl is a B2B2C Blockchain PaaS startup working in the arena of Warehouse Receipt Finance that helps Farmers, Traders & Producer Companies in raising working capital to tide over lengthy crop cycles ranging from 6-12 Months. Whrrl collects data from warehouses with the help of IoT devices and puts that data on Blockchain creating an immutable record of Collateral and its attributes like Ownership, Quality and Location. This helps lenders in making uniformed decisions, cuts the role of intermediaries and reduces the risk of fraud.
How WHR Lending Works?
Warehouse Receipt (WHR) Lending is one of the most innovative and oldest lending product, been in vogue since Mesopotamian times. It’s a system of financing working capital to Farmers, Commodity Traders and Producer Companies against their commodity stock deposited in warehouses and pledged with the lenders.
Features of Whrrl’s WHR Lending Platform
The uniqueness of Whrrl’s products comes from combining benefits of IoT with Blockchain and Smart Contracts. Some of the unique features are:
- Blockchain Powered
- Real Time Monitoring
- Smart Contract Enabled
Benefits of Whrrl’s Blockchain Powered WHR Lending Platform
- Increase in Farmer’s Income by 25-300%
- Fraud Reduction
- Exchange Tradable Tokenized & Warehouse Receipts
- Operational Efficiency through IoT & Smart Contracts
- Credit Score for Farmers
- Monetization of Assets by Farmers / Producer Companies
*Above profile is covered by: SwiftNLift Business Magazine