How are farmers using blockchain, AI and IoT? AMA with Dimitra
Blockchain has been integrated into various industries — agriculture is no exception. With AgTech, farmers have the ability to apply sensors, drones, GIS, farm-management software, robotics, machine learning and blockchain to their day-to-day work, giving them full control over their farms. Precision agriculture methods enable them to make better decisions and reduce costs. Yet not everyone embraces these tools. According to McKinsey, only 39% farmers use farm-management software and 18% take advantage of, or plan to use, precision agriculture with the lowest adoption rates in Asia. Barriers to mass adoption include high AgTech costs, lack of personalized, quality services and logistical issues. AgTech startups endeavor to fill the gap by making AgTech more approachable and attractive for investment. They came to investors’ attention in 2020 in the immediate aftermath of a pandemic that disrupted supply chains around the world, raising $6.2 billion. Though numbers have since dropped b...