Agrinode-Modernizing Farm Management Software (FMS)
Another use case of blockchain technology in agriculture is the modernization of farm management software. The farm management software will become mainstream soon in reality. The use of blockchain technology in the agri-food supply chain allows stakeholders and consumers access to reliable information. Blockchain technology also increases the ability to track goods and reduce the need for a third party to monitor the network and control information.Most of the Farm Management Systems focus on specific tasks and use their own specifications to implement the functionality provided. Agriculture is rapidly becoming a very data intensive industry where farmers need to collect and evaluate a huge amount of information from a diverse number of devices (e.g., sensors, farming machinery, meteorological sensors, etc.) in order to become more efficient in production and communicating appropriate information.
Blockchain can help farmers in controlling weather crisis — IoT sensors generating data or Farmers storing data, Distribution of grown crops to the food processing companies, Supply of Processed Food to Wholesalers and Retailers, Consumers can back trace the supply chain. Smart farming allows sensors to generate crucial information related to the crops sown in the fields. The data captured either by using IoT sensors or manually by farmers is saved in the distributed storage platform, i.e IPFS with addresses stored in the blockchain.
The crops can be transported to the refineries via IoT-enabled vehicles, capturing temperature conditions under which they are kept and delivered. After the bid is validated through smart contracts, the crops undergo processing and companies store information captured at every step of the process on the blockchain. The information gathered from refineries can help wholesalers or retailers to confirm if the delivered food is of good quality or not. Storing data on the blockchain can also ensure if the compliance has been met at every step of the food supply chain. The blockchain supply chain offers traceability by helping food companies conduct food recalls or investigations quickly and seamlessly.
As farmers integrate RFID tags into their business (collect environmental and location data), drones, and artificial intelligence, they will begin to realize that they need an operating environment that will effectively manage all of this and ensure the security of the system and the data collected. The only contender for such an operating environment is the blockchain. Only this database architecture can provide openness and at the same time security of information storage. Openness is needed because the new FMS will have to provide unobstructed access to data for all parties, and security because you need to be sure that the information is genuine and protected from falsification.
Farmers are increasingly turning to sensors, drones, and artificial intelligence devices. If you add blockchain to this set of technologies, you get a reliable, cyber-resistant, and secure system. FMS based on blockchain will also help reduce inventory costs and transaction costs between agricultural suppliers. At the same time, farmers will be able to monitor the state of their equipment and the process of growing crops more effectively and in real time. The global farm management software (FMS) market is expected to expand to $4.22 billion by 2025. An anticipated 50% growth in demand for agricultural products by 2050, coupled with water shortages and stagnation in methods to expand crop yields means that leaps and innovation in farm management software represents a key area of yield enhancement.
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