"Bank the unbanked" has been a phrase I've been hearing since the day I first got involved in crypto circa 2016. While that's certainly a commendable mission statement, rarely do I see any projects actually taking steps toward that becoming a reality. It's this dilemma exactly that made SUKU really stand out to me the first time I came across them.
Describing themselves as "the link between open finance, traceability and transparency", SUKU leverages blockchain technology to provide tracking solutions to products throughout their supply chain journey, and offers businesses a convenient platform to share that products journey with their customers. With that in mind, SUKU DeFi aims to empower participants in the supply chain (ex. farmers) by providing SUKU tokens in return for the data regarding their product, as well as a lending protocol in which they can interact with and collateralize their SUKU tokens for a stablecoin like USDC.
This offers an incredible variety of benefits, as well as creates entirely new possibilities for their farmers, their families, and their financial outlook.
It's currently live on the Ethereum mainnet and can be accessed here: defi.suku.world
