Fintech and crowdfunding as tools for financing the reproduction process in agricultural activities
https://doi.org/10.26425/1816-4277-2021-10-155-160
Abstract
Agriculture plays an important role in the food security and sustainability of people in any country. The sustainability of agriculture can be improved by allowing the introduction of innovative services, such as financial technology (FinTech) and the digital marketplace. A digital trading platform supported by financial technology can transform business processes in agriculture into more sustainable ones in terms of financing and distribution. FinTech offers farmers easy ways to obtain funding sources through crowdfunding and digital payment systems. A digital trading platform can act as a platform for FinTech to integrate an innovative financial solution into the broader agricultural ecosystem. The article proposes a digital marketplace model using FinTech and a crowdfunding and payment system to support agricultural sustainability. The crowdfunding digital marketplace model brings together all participants (farmers, landowners, investors and consumers) in a platform that can promote transparency, empowerment, resourcefulness and public participation in agriculture.
About the Author
M. A. Eskiev
Kadyrov Chechen State University
Russian Federation
Russian Federation
Senior lecturer,
Grosny
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Review
For citations:
Eskiev M.A. Fintech and crowdfunding as tools for financing the reproduction process in agricultural activities. Vestnik Universiteta. 2021;(10):155-160. (In Russ.) https://doi.org/10.26425/1816-4277-2021-10-155-160
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