Blockchain technology has shown that it can transform data-driven markets, such as finance. However, the technology is industry-agnostic and can be applied across the board in ways specific to each industry. For example, it can be used in agriculture, the oldest industry in the world, and one that’s part of the primary sector of almost every economy globally.
Agricultural technology (AgTech) is growing rapidly to streamline and automate multiple processes. Thanks to a range of innovative technologies, including blockchain, artificial intelligence (AI), and satellite and drone imagery, farmers can scale their businesses, reduce costs and expand their reach.
In recent years, farmers and other industry players have adopted AgTech for a variety of use cases, including farm management, remote sensing, precision agriculture hardware and automation, among others. North America and Europe are leading the way in AgTech adoption, while Asia remains an untapped market. According to a McKinsey survey published in 2023, more than 60% of polled farmers in Europe and North America are currently — or are planning on — integrating innovative technologies, with Asia lagging by a wide margin at only 9%.
Regions using or planning to use at least one technology within two years. Source: McKinsey
This AgTech firm offers a complete tech stack for farmers and stakeholders
AgTech has evolved rapidly, giving today’s farmers access to many offerings. Dimitra, a leading AgTech firm, offers a comprehensive tech stack that utilizes the latest technological innovations in agriculture, including blockchain, AI, drone imagery, Internet of Things (IoT) sensors and genomics, among others. Dimitra’s tech stack makes it easy to adopt AgTech on any farm, helping farmers scale their businesses, cut costs and improve the quality of their products. Mike Meurin, the company’s chief digital currency officer, said:
“The true power of Dimitra lies in our entire tech stack. By combining all of the elements of our tech stack and analyzing immense amounts of agricultural data in real time, we can provide farmers with real, actionable insights to improve their crop outputs and, by extension, their lives.”
Source: Dimitra
Dimitra’s flagship product is Connected Farmer, a web and mobile application supporting more than 18 languages and multiple module components to address a wide range of needs. The app has data collection functionality and can be customized with additional modules for sensor management, satellite analysis, genetic analysis, farm management and a marketplace, among others. It can help farmers monitor their finances and insurance operations, as well as track crop inputs, fertilizer and regulatory requirements, seed inputs and crop yields.
Farmers can also utilize field-level sensors and integrated satellite imagery, and Dimitra then takes this data for AI-based analytics. Dimitra also incorporates satellite technology and drones for anomaly detection, providing farmers with real-time insights into crop health and potential issues. In addition, the integration of mobile image analysis allows farmers to capture and classify anomalies directly from their smartphones, enabling real-time monitoring and quick action.
Source: Dimitra
Furthermore, Dimitra’s AI algorithms utilize historical weather and satellite data for yield estimation and forecasting, empowering farmers to make informed decisions based on predictive analytics.
Lastly, the all-in-one platform Livestock Guru empowers livestock farmers to increase the profitability of their businesses for generations to come. The platform provides farmers with various management features, including the EPD Calculator and genetics correlations, as well as animal weight measurement using images, offering comprehensive support for livestock farmers to optimize breeding programs and feed management.
Source: Dimitra
Making life easier for farmers
Dimitra has integrated blockchain technology into its tech stack to improve the lives of farmers around the world. AgTech and blockchain have traditionally been underutilized in developing countries due to a high cost of adoption, but Dimitra’s business model and multifunctional applications address the increasing demand for innovative technologies while offering solutions at an affordable price. The company’s applications are now being used in 17 countries on different continents, including South America, Africa, and Asia.
Recently, Dimitra partnered with the decentralized data monetization platform Ocean Protocol to enable its users to sell anonymized agricultural datasets through Ocean’s marketplace. This will incentivize farmers to collect and sell data, enabling market participants to access up-to-date data prices, trends and updates from seed companies, fertilizer companies, and commodity traders.
By integrating blockchain, AI and other technologies into its tech stack, Dimitra aims to empower farmers around the world. Supporting 100,000 users worldwide and running projects in over 40 crops, Dimitra demonstrates its commitment to making a significant impact in the agricultural sector.
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Written by Anatol Hooper on 2023-06-23 13:30:00.
