Agriculture contributes more than we can imagine to the world at large. Blockchain can help in
- Enhancing agricultural supply chains by linking agricultural shipping and monitoring processes using a shared , decentralized blockchain ledger adds value to agricultural products because everything ranging from machinery,seeds,crops,soil can be traced by the receiver to determine it's quality and give it greater value.
- Modernizing Farm Management Software_Due to the predicted and projected growth rate in demand for agricultural products and the challenges associated with it . Innovation in farm management software represents a key area to enhance yield. With the application of blockchain technology, farmers can integrate sensors,drones and artificial intelligence into their agricultural operations, this data store kept in the blockchain distinguishes one from competitors,also it reduces the cost of transaction of agricultural suppliers and even inventory costs because it provides more effective real time monitoring of machinery and crops.
- Incentivizing Sustainable Practices-Common practices that are unsustainable should be eliminated,a good example is pesticide.A distressing volume of chemicals such as pesticides end up being discharged into water bodies that are used for drinking, cooking etc. Block chain enabled platforms that incentivize sustainable practices should be created to create direct incentives especially in poorer nation's.They should even offer more if farmers can prove that their produce was grown in an organic and sustainable manner.
- AgriTech Fusion with Internet of Things-The annual crop loss due to inevitable naturalconditions tells us to turn to technology to improve yield and reduce wastage. Internet of Things linked technologies e.g sensors give farmers greater insight into conditions that are conducive to high yield and risk reduction plus the blockchain is already serving as a decentralized storage for real time data on crop quality.
- Fair Pricing-Weather conditions, inelastic demand and supply and the market all impact the income of most farmers and their quality of life.A price increase results in a decrease in farming households living in poverty and vice versa. Therefore , the wealth of information that could be provided to farmers via a blockchain platform would help decrease the chances of famine. With a blockchain linked mobile store of data about transaction trends,demands of the global market, price of commodities and others, farmers will be able to negotiate fairer prices especially in nations where internet access is a privilege and not readily available.