Athey Nallatha, a Kerala-based startup that manufactures fusion pickles, began accepting crypto payments on August 29.
It is one of the first Indian startups to accept cryptocurrency.
Local Food for Global Audience
Athey Nallatha is a brand owned by Emitime Private Limited which took birth last year during the pandemic. The start-up aims at providing authentic food products and services to both domestic and global clientele.
They envision creating value for the segment of society whose job is the most underrated and underappreciated, the Mothers. That’s why, it employs several homemakers, who prepare the pickles.
Blockchain initiatives of the startup
Athey Nallatha is chasing transparency and efficiency; that’s why it embraced blockchain solutions.
The team has cited the August 16 news that the Union Minister of Finance Smt. Nirmala Sitharaman is waiting for the ‘Cabinet approval’ for the crypto bill as its motivation to dive into the world of digital assets.
It aims to use blockchain technology not only for accepting payments but also in supply chain management “including procurement, manufacturing, logistics, sales, cross border payments and more.”
The company wishes to enhance its efficiency by 60% in all the processes in the future through blockchain technology.
They take payments in their Coinbase wallet, and the digital currencies accepted are Ethereum, Bitcoin, Dogecoin, Litecoin, Bitcoin Cash, DAI, USDC.
“Cryptocurrency is very much transparent in its nature which portrays its future as a very prosperous mode of contract, taking away the intermediary between any 2 transactions”Aneesa (the recipe specialist of Athey Nallatha)
Since they are engaged in international trade, accepting payments through cryptocurrencies makes the payments system fast, efficient, and transparent.
In the first year of existence, battling the pandemic was a baptism of fire. But the tricky situation gave the spirit to experiment more with technology. The interaction of the company with blockchain will ease its global supply chain management and bring prosperity and transparency to the whole system.
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