‘Agriculture Blockchain’ is basically a real time, immutable and most secured shared ledger between partners. Users and Partners can upload the updates about their products or services along with its physical movement using distributed App (DApp). So it becomes the single point of all shared information. The sensitive information can be handled on a private channel to hide it from public network.
Who can join the network?
A bulk buyer or seller of agriculture products
A Marketplace or intermediary who does buying-selling of agriculture products
A Service providers to agriculture industry / farm / farmers
Why join the network?
I. Data security - It is immutable and non-hackable by outsiders. Your user’s data is yours. Other partners in the network can only see the data you share with them.
II. Build your own digital (smart) contracts - It will eliminate human checkpoints / errors / fraud and manual payments associated with contracts. Smart contract can also handle the complexity of the terms of the contract. It is enforceable in the court of law.
III. Build your own Distributed App (DApp) - The portal facing UI (user interface) for your users, based on your own data on blockchain and supported by data analytics.
IV. Compliance ecosystem - Network has it is own ecosystem of auditors and arbitrators specialised in agriculture industry, required for any trade deals to avoid or resolve the dispute.
V. Flexibility in sharing information - The sensitive information can be handled on a private channel, without disclosing any competitive details.
VI. Transparent Business - Cost of running network and profit on all transactions on the network will be split among all partners.
What are the requirements to join the network?
Have basic IT capability with basic linux knowledge, we will train you / your team on blockchain.
Network fee (to share a cost of running network. More partners, better the security and cheaper the network cost) - It will be calculated at the time of joining.
Computing power - Very negligible. Less than 5% of the average CPU processor of a Dual Core i5 6th generation with 8GB RAM.
Light Nodes can run on Raspberry Pi Zero
Why businesses are slow in adopting?
Despite its advantages, people are taking time to adopt the technology. Also, companies are resistant to extensive change, but we can cover some of the challenges such as -
a. Know How - Blockchain programming is complex and challenging, but we will help you set up to ensure it’s set up correctly, and we will manage for you.
b. Law - Blockchain can be international, which means it succumbs to a variety of global laws. This can be a challenge for global companies to manage. However, our legal department is staying updated to make sure that we are compliant in the country we operate.
c. Scaling - Blockchain relies on a network effect. The more people that use it, the more value it has. In order for it to truly succeed, all partners of the supply chain should use the platform consistently. Currently, not all businesses use blockchain. However, with our marketing and partnerships efforts, we expect that it will grow in popularity as large organizations continue to adopt this tech into their systems.
If you are a bakery, and procure specific wheat flour. You would see wheat farmers uploading their side of important information such as farm inputs, product type and size, harvest time, and lastly the time and status (moisture level / humidity) when it leaves the farm. The logistics company, flour mill, distributor will have their data recorded in a similar fashion till it reaches to the deliver point. Making whole wheat supply chain transparent.
This system can also alarm everyone if some of the shipment were damaged already, and at what stage it was damaged, so everyone in supply chain now know how many products are there, when they will arrive, and the condition they will be in at delivery. It also ensures that quality standards are met, giving the seller-buyer more control of the production and supply of the product from A to Z. This way, the entire supply chain operations can be streamlined to maximise output.
This digitization of logging all important information about ‘wheat flour’ leads to less administrative work and more consistent data tracking. You don’t have to try to connect with your supply chain partners to get the information you need; you sign on to the agriculture blockchain to instantly download that information. Everything about the product is in one spot, making communication and operations highly streamlined.
Using Analytics it can help create forecasts and predictions based on previous data, and it can allow users to pinpoint lags in the supply chain. Moreover, customers can also have access to certain data on the agriculture blockchain. Such as- wheat farmer, chemical inputs, how hygienically it was stored or transported etc. This will help to build deeper client relationships and loyalty.
Lastly, agriculture network will have its own tokens (agri.coin), which can be used between network partners to pay each others, instead of using fiat currency and banking system for every transaction. Since we will not be doing ‘proof of work’ (PoW), the cost will be significant low than any banking channel to transact. The purchase and cashing out will be done through banking channel only. The trading of coin will not be allowed at this point.
If you wish to make the difference in the lives of farmers and revolutionise the change in agriculture industry, then we would like to partner with you!
We invite developers to apply for 'Agriculture Supply Chain powered by Blockchain' to address some of the use cases. Details will be provided upon registration.