Georgia has signed a US$100 million agreement with American technology firm Farmway Technologies to develop its almond industry through blockchain-based modernization. The partnership combines agricultural development with digital asset management and aims to strengthen Georgia’s role in global almond production.

The project will apply blockchain-driven tokenization to digitize farmland and agricultural assets, allowing international investors to take part in Georgia’s agricultural sector. The system is intended to improve transparency, traceability, and capital access across the almond supply chain while supporting environmentally responsible farming practices.

Farmway Technologies’ chief executive, Upmanyu Misra, said the collaboration demonstrates how tokenized agriculture could address global climate challenges. “By directing international capital into Georgian almond farms through blockchain-enabled mechanisms, the company intends to demonstrate how real agricultural outputs could produce measurable climate benefits while also strengthening rural communities and advancing sustainable agricultural practices,” he said.

Global almond demand continues to grow, driven by expanding plant-based and health-focused markets. Around 80% of the global almond supply currently comes from California, where production faces challenges linked to drought and wildfires. Georgia’s expansion into large-scale almond farming could diversify global supply chains and reduce dependence on climate-affected regions.

Almond production in Georgia reached around 2,756 tons in 2023. Analysts project a fivefold increase to approximately 15,432 tons by 2027, supported by declining almond imports, which fell by nearly half in 2024. The country’s agricultural strategy includes encouraging private-sector investment and export-oriented crop development.

While the blockchain model offers new opportunities for investment and data management, concerns remain about the environmental costs of cryptocurrency-related systems. High energy use and electronic waste associated with blockchain networks have led to questions over their long-term sustainability, even as the sector moves toward greater reliance on renewable energy sources.

The initiative is viewed as part of Georgia’s broader strategy to expand agricultural capacity through technology and investment. By integrating blockchain infrastructure with almond production, the country seeks to establish itself as a regional example of how digital finance can be applied to agricultural development.

If successful, the model could be replicated in other developing markets where access to capital and climate adaptation remain priorities. The long-term impact on production, trade, and sustainability will depend on how efficiently technology and resource management are aligned in the project’s implementation.

Source: CoinTrust