Nandan Nilekani pitches 'Finternet' to tokenize farm assets in Mumbai
Business
Infosys co-founder Nandan Nilekani just pitched his Finternet idea at the Global Fintech Festival in Mumbai.
The plan? Turn real-world stuff like cows, crops, and warehouse receipts into digital tokens.
This tech could help farmers move assets easily and get quicker access to money.
Nilekani says tokens enable farm credit
Imagine a cow as a digital token (complete with its ID, owner, and health info) that farmers can share with lenders as the basis for accessing credit.
Crop storage receipts can also be tokenized so farmers have more options to borrow from different lenders.
Nilekani says using open networks and AI will make these tools scalable, giving small businesses better ways to manage their assets digitally.