Categories: Uncategorized

Nutchain: The world’s first blockchain peanut company

After having waded into contract law and being the basis of cryptocurrency, blockchain is now about to invade your local supermarket. Courtesy of Nutchain, India’s newest blockchain-based peanut company, the technology will now be used for the wholesale manufacture and export of peanuts.

A relatively new entrant into the space, the launch of Nutchain this year coincided with the 50th APRES meeting (American Peanut Research and Education Society) in Williamsburg Virginia though details of the startup were not discussed at the annual gathering.

Some however are sceptical about the idea, arguing that abstract ledgers could never be used to form organic produce. “A blockchain for peanuts is a fairytale idea,” blockchain expert Prof. Lans Beguiler said, adding that he would be a tough nut to crack in convincing him of the utility of Nutchain.

“The foundation of blockchain is trust. Peanuts being the most trustworthy of the legumes, we thought it would make for a natural marriage.” CEO and founder Mani Pillai said of the new venture. When asked to explain more, Pillai noted that peanuts were always on hand when a cricket game was on or at any evening tea, “We wanted that sense of recognised comfort to be reflected in our modern lives.”

Employees at Nutchain raved about the working conditions at the company’s Chennai-based offices as it allowed the development team to work long hours on the project despite all of them harbouring peanut allergies. The team did grumble however that, relative to their counterparts, they were still being paid peanuts.

In moving past employee gripes, Nutchain now hopes to bring the core ideas of decentralisation and anonymity to peanuts, with aims to move beyond the initial gimmick of being the world’s only blockchain-based peanut company.

In a nutshell, the technology is here. But it appears as if only Nutchain has chosen to make it happen.

This non-starter was brought to you by Will Ryan of Publicize.

Non-starters is our space to dedicate to terrible startup ideas. If you have an idea for a terrible startup (or work at one), please send your thoughts to editor@thetechpanda.com. Please keep in mind that any resemblances between Nutchain and an existing startup are purely coincidental. It’s satire, yaar!

Arjun Harindranath

Arjun studied law and philosophy before travelling to Europe in 2008 to be a full-time writer and journalist. He's eager to catalogue the thousands of startup stories India has to offer as well as bringing his insight into recent developments within the tech space.

Recent Posts

DeepSource’s new autonomous AI agents promise to scan, fix code security vulnerabilities

As artificial intelligence (AI) continues to progress exponentially, the future of industries like software engineering…

20 hours ago

Retail’s Return Rate Crisis: The Urgent Need for Proactive Solutions

The average return rate in eCommerce is estimated at 17.6% for 2024. Nearly 1 in 5 products…

2 days ago

AI Launches: Cybersecurity, AI Agents, product specs, business operating system, automobile, consumer & MSME lending, cloud, data streaming

The Tech Panda takes a look at recent launches in the superfast field of Artificial…

3 days ago

As India’s tech sector on track to surpass $300 billion, CEO of Ness shares insights into AI’s important role 

The tech sector in India has been going from strength to strength in recent years.…

3 days ago

Unknown & uncontrolled machine identities within organizations leading to emergence of new identity security challenges

Experts are saying that organizations are inadvertently creating a new identity-centric attack surface through growing…

3 days ago

Outbound & inbound: India attracts businesses from US & Singapore while expanding to UAE, Europe & Philippines

The Tech Panda takes a look at how India has been attracting foreign businesses from…

4 days ago