Improved sustainability in agriculture will come thanks to blockchain technology | Interview with Dimitra
The agricultural industry went through a major metamorphosis during the industrial revolution, and it might be set for another groundbreaking evolutionary stage now. With the rise of blockchain technology, the farming and agricultural sectors are witnessing a lot of innovation and improvements.
According to the founders of AgTech company Dimitra, the opportunities for the agricultural sector to benefit from blockchain-based tech are endless. Find out more about the future of AgTech in the latest Cointelegraph Interview below.
Q: Is the adoption of blockchain technology becoming more widespread across the agricultural industry? What are the main challenges for small farmers and agricultural companies to incorporate this technology?
The adoption of blockchain technology is growing within the AgTech sector; the spread of mobile devices has made farming applications accessible to farmers globally. Earlier in developing nations, few farmers had laptops or computers. Mobile device penetration in rural areas lagged in developing countries.
Early applications were basic and didn’t work well offline, which is a necessity in agriculture. They also only offered a few features requiring farmers to buy several applications, which was a significant deterrent.
Initially, mobile-based systems were distributed in North America and Europe. Farmers in developing nations have struggled with expensive Agtech applications and their licensing costs.
Q: What is AgFi? What are the key aspects of this nascent space, and how can AgFi help farmers?
AgFi is digitizing the farming value chain from crop to end consumer and combining agronomic sciences, environmental sciences, blockchain, remote sensing, IoT sensing, and machine learning with AI algorithms.
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