GreenGold, AVODELI to Boost Sustainable Avocado Production
GreenGold Project reported it will partner with AVODELI, an avocado growers association, to start planting avocados in Oaxaca. This partnership also marks the implementation of AvocadoCoin, a cryptocurrency backed up by the avocado industry.
According to Gonzalo Araújo, CEO, GreenCrypto Corporation and the GreenGold Project, GreenCrypto has been developing the venture with Avodeli for the past eight months. The project will begin with a single ha, with plans to expand to 40ha in the first year and then continue to grow in Mexico and globally. The development will take advantage of Agro 5.0 and blockchain technology to optimize avocado production, improve operational efficiency and reduce costs.
Blockchain technology could bring greater transparency to both the avocado growing process and the supply chain to reduce the use of fertilizers and pesticides, increase product quality and ensure the delivery of a healthy product to consumers.
Through the use of blockchain, AVODELI will be able to keep a complete record and monitor the use of fertilizers and water resources, among other key inputs, to trace the product and ensure efficiency. Moreover, the association plans to implement a subsoil drip irrigation system with waste reuse through induced drainage. “These measures will help reduce water consumption and increase the use of recycled water,” explained Osvaldo Vásques, CEO, AVODELI.
"We are excited to join forces with the AvocadoCoin and GreenGold project,” Vasques added, noting that the company’s innovative approach to agriculture aligns with AVODELI’s mission to promote sustainable and efficient farming practices. “We look forward to seeing the positive impact on our communities and the environment," he concluded.
AvocadoCoin is a cryptocurrency developed by the GreenGold Project and created by GreenCrypto Corporation OU, an organization that raises resources to invest in sustainable projects. It was launched on Dec. 15, 2021, with an initial offer of 600,000 AvocadoCoin units priced atUS$1,000 per unit.
"Cryptocurrency is not essential, it is merely the means to raise funds. The real goal behind AvocadoCoin is to reduce waste, protect natural resources such as water and produce more while caring for the environment," said Araújo.
He underlined that AvocadoCoin represents the first crypto-asset of its kind. Soon, the GreenGold Project will seek to support more sustainable product projects including berries, bananas and lemons, among others. “The idea is to raise capital without resorting to funds but looking to hundreds of thousands of crypto investors around the world,” Araújo pointed out.
Mexico leads the global avocado production. According to statistics from the USDA, Mexico produced about 2.3 million tons of avocado during the 2021-2022 period, exporting up to 50% of its production. However, the sector faces several problems including high costs, an elevated carbon footprint, excessive use of water, soil degradation and pollution.