Use of financial technologies to increase transparency of agricultural market

The study aimed to analyse the role of financial technologies in increasing transparency in the agricultural market and determine the potential to address key issues in the sector. The study examined the effectiveness of financial technologies such as blockchain, digital platforms, peer-to-peer (P2P) lending, InsurTech and RegTech in increasing the transparency of the agricultural market and optimising agricultural processes. The study determined that the introduction of financial technologies significantly improves the transparency of the agricultural market, reducing opportunities for corruption and price manipulation. The use of blockchain technologies in agricultural transactions ensures data integrity and transparency in the supply chain, which can be used to trace the origin of products, reducing the risk of fraud. Digital platforms for agricultural trading enable farmers to interact directly with buyers, which ensures fair market prices and eliminates the role of intermediaries, reducing costs. The analysis showed that FinTech solutions, such as P2P lending, enable farmers to obtain financing on more favourable terms, which makes it easier for small and medium-sized agribusinesses to access credit. Innovative risk insurance solutions, such as InsurTech, using satellite data to assess climate threats, can be used to respond quickly to natural disasters and minimise losses. The study also confirmed that the use of big data and artificial intelligence technologies enables accurate forecasting of yields and demand for agricultural products, making the agricultural sector more predictable and sustainable. Thus, FinTech technologies help to optimise financial flows and reduce risks in the agricultural sector