SaanFan Team, the Popular Vote winner of the Fintech Challenge 2016, brings innovative financial technology to Thai farmers

Janjira Taraphan, Sasin Executive MBA 2014, Lead Software Process Specialist at Reuters Software (Thailand), is a member of the SaanFan Team, which won the Popular Vote Prize of the Fintech Challenge 2016.  Fintech Challenge is a global venture competition where over 160 teams from around the globe come to compete. The competition is organized by the Stock Exchange of Thailand, the Securities and Exchange Commission, the Insurance Commission, the Bank of Thailand, and others.  SaanFan Team uses blockchain technology to help Thai farmers by getting the donations to them in a transparent manner.

 

 

Jenjira says that her team established the www. farmerhope.fund ,  whose objective is to help farmers, who make up 20% of Thai population, by using an innovative financial technology, the blockchain. By using this technology donors have available to them the details of their donations such as the amount, name of the recipient, how the donation was spent, and whether the farmer makes a profit. This financial solution simultaneously helps reduce farmers’ cost and debts.

After just two months,  www.farmerhope.fund  has received roughly 100,000 baht in donations. They have used this money to help10 farmers obtain jasmine rice seeds, fertilizers, and agricultural equiptment .  Other SaanFan team members includes Wittaya Krasaenaun and Umaporn srihoon, who are also at  Reuters Software (Thailand).