“It's clear that agriculture, done right, is the best means the world has today to simultaneously tackle food security, poverty, and environmental degradation.” - Irene Rosenfeld
Agriculture as an industry is a curious case. On one hand, it is one of the most essential industries for a country, serving as the backbone of many economies. On the other hand, it has not seen much disruption and innovation worldwide and is still a very rudimentary stage in countries like India.
This industry needs a fresh input of ideas and innovators, backed by emerging technologies that can trigger the process of modernizing the age-old systems and processes that we still use today while at the same time opening up new avenues for investment and innovation to foster growth in the larger global economy.
The agriculture industry works off of antiquated supply chain systems till this date, because of which not only results in inadequate supply to the end consumer but also unplanned productions resulting in excess crops. By incorporating blockchain and AI-powered solutions, we can not only modernize and digitize this supply chain but also take one step further in bringing agriculture into the 21st century.
Even though the internet has enabled farmers to access a treasure trove of information that enables them to make better decisions and improve their crops, they do not possess the required tools that would enable them to make this call. By leveraging the power of Artificial Intelligence, we can put in the hands of farmers analytical tools that they can then use to draw conclusions by analyzing the crop ecosystem and determining any issues that exist.
Whether it be land or crops, maintaining records of ownership and transfers is a cumbersome process that is heavily laden with time-wasting redundancies and often ends up collapsing under the weight of the paperwork. By Digitizing assets and maintaining the records on the blockchain, we can ensure security and transparency while reducing the time and effort cost involved.