5 Possible Cases of Using Blockchain In Agriculture
Farm management software provides the farmer with a holistic view of all farm activities and inputs through a single platform, which enables efficient planning, the capacity to track activities in real-time and thus take the right decisions.
Leaps and innovation in farm management software are to solve water shortages and stagnation in methods to expand crop yields enhancement. Such blockchain-centered FMS software also promises to slice the cost of transactions between agricultural suppliers, as well as inventory costs by providing more effective real-time monitoring of machinery and crops.
The average efficiency index for small farmers is 85%, and 91% for large-scale farmers. The several factors that dictate these figures are weather and pest. For example, 2012, a year of uncommonly extreme weather conditions, exemplified the costs that can arise when adverse conditions hit, as that year a record-breaking $17.3 billion in crop losses occurred in the United States alone.
Against the challenges such as extreme weather conditions, rising climate change, and environmental impact resulting from intensive farming practices — a persistent, unavoidable threat affect agriculture. Therefore, IoT combined Blockchain is applied.
IoT-linked technologies, such as sensors, have fundamentally improved the way that agricultural operations are run. These sensors will gather data automatically in real-time, provide quick and easy access to growers who need the information to perform various farm operations. It creates conditions for growers to monitor soil quality, irrigation, and pests in a precise and highly efficient manner to automate and digitize just about everything that has to do with record-keeping and quality control.
The blockchain is already serving as a decentralized storage locker for real-time data on crop quality, which can be utilized by farmers as well as their supply chain partners to increase the quality of products and clarify provenance systems.
Although farm small or large, logistics is always a big challenge in the agricultural supply chain, especially dealing with high amounts of perishable products in uncertain conditions with lots of money on the line. Also, often the supply can be uncertain (it’s not like a factory producing widgets).
Therefore, Implementing blockchain into logistics can go a long way in simplifying deliveries, help farmers be free from the long chains of intermediaries. And of course, they’ll get to rest easy knowing that the product will reach the end consumer in good shape.
Moreover, smart contracts work by triggering payments automatically as soon as a specific, previously — specified condition has been fulfilled by the buyer. This process will eliminate unnecessary delays and ensure farmers get paid for their product on time. Even better, the solution can be configured to spread out payments to farmers throughout the year as opposed to paying them seasonally.
Unsustainable agriculture practices heavily influence on human health and the environment. For example, the global market for pesticides is worth more than $35 billion per year, and a distressing volume of those chemicals end up discharged into bodies of water that are used for drinking, cooking, and/or bathing.
In the world, there is a large number of rivers, groundwaters, and even soils that polluted. The most common chemical found to contaminate groundwater is nitrate, a primary component in crop fertilizers. In addition, an estimated 4 billion tons of soil are lost or destroyed as the result of raising crops each year. It’s a fact that we can not faith denial of the lasting damage agriculture-derived pollution is doing to the land and to the many native populations who ingest the remnants of unsustainable practices in the form of chemicals.
Therefore, blockchain-enabled platforms appear that help to build and encourage more sustainable practices. It creates more direct incentives such as powered the reward sustainable practices, encouraging farmers to establish the provenance of their methods in order to attain a financial reward. Also, startups are willing to pay far above premium to farmers who can prove that they have grown their produce in an organic, sustainable manner. This is a powerful incentive to change the practices that can protect our environment and planet.
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Published at Sat, 31 Aug 2019 01:20:16 +0000
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