Plaas is the name of the token and the technology that is used by the Agricultural business Plaasio which was founded in 2017 in Gaborone Botswana in partnership under satoshi-centre group. The name PLAAS was picked to differentiate between Plaasio the company and Plaas the token. The name Plaas is an Afrikaans word that means a Farm.
In order to achieve its mandate, PLAAS is seeking to leverage blockchain technology by providing all the players in the African agricultural sector with a platform where they can store and share information about crops and animals securely. The platform works by using blockchain technology to store sensitive agricultural data like the breed and ancestry of animals to help buyers identify the traits of the animals that they are buying. This gives an insight into whether the animal is able to produce high yields based on the past ancestry and the conditions of the new farm. Additionally, the platform also provides information on plants and animals to keep track of the food security in the country remotely. This is done by leveraging RFID information and combining it with blockchain technology to ensure all the animals in the platform can be tracked, and their genetic information is available to users. The platform will also provide an online marketplace for buyers and sellers on the market who can use the native PLAAS coin to remit payments. Cooperatives can also use the platform to track the contributions of the farmers and disburse payment through the platform to avoid fraud and mismanagement of resources. The main purpose is the growth of the platform.