Farmsent, a farmer-centric blockchain platform, has announced a partnership with Peaq, a blockchain focused on data privacy and security. The collaboration aims to decentralize the agricultural supply chain and create a global Web3 marketplace that connects farmers directly with consumer-facing businesses. Farmsent plans to leverage Peaq’s decentralized physical infrastructure network (DePIN) to track product quality and provenance, eliminate middlemen, and reduce costs for all stakeholders while ensuring transparency. The use case of DePINs in agriculture is particularly exciting as it provides farmers with secure digital identities and real-time data about their crops, enabling them to make data-driven decisions for optimizing crop health and yields. For consumers, the system allows access to information about the food they purchase, empowering them to make informed choices.
The global food trade currently faces issues such as farmers receiving a disproportionately low share of the value captured in the market. Farmsent plans to address this by bypassing traditional intermediaries and enabling direct transactions between farmers and consumers. The platform is already being used to track coffee, avocados, and palm sugar between Indonesia, Colombia, the UAE, and the United States. Farmsent has onboarded over 160,000 farmers and is working on securing three additional licenses. Peaq was chosen as the blockchain platform due to its ability to cost-effectively store data and scale for large volumes, which will be crucial as Farmsent expands its reach.
Data privacy and security are paramount when handling the transaction and data of farmers and business owners worldwide. Farmsent’s DePIN network gathers information from three sources: manual entry by authorized personnel, IoT sensors placed throughout the supply chain, and data from third-party partners like logistics companies. To ensure data security, Farmsent leverages Peaq’s Decentralized Identifiers (DIDs), which act as unique identifiers on the blockchain linked to data without revealing the actual data itself. This allows for data verification and controlled access while protecting sensitive information.
The founders of Peaq believe that the use case within the agriculture industry is not only exciting but also crucial in pushing back global food insecurity. By creating a secure and transparent supply chain, the partnership between Farmsent and Peaq aims to deliver cheaper and higher-quality produce to people worldwide.
I don’t trust the security of blockchain platforms. Can they actually protect sensitive farmer data?
This is just another way for big corporations to exploit farmers and control the supply chain. I’m not impressed.
Data privacy and security are of utmost importance, especially when it comes to farmers’ information. Peaq’s Decentralized Identifiers provide the perfect solution by ensuring controlled access while protecting sensitive data.
I love that Farmsent is already making a difference by tracking coffee, avocados, and palm sugar. 🌍☕🥑 It’s exciting to see the platform expand its reach and onboard more farmers. Let’s support these initiatives and the hardworking farmers who feed us. 🌾👨🌾
How can we trust this platform to provide accurate data about product quality and provenance? I have my doubts. 🤔
Data privacy and security are major concerns, and I don’t think this platform has what it takes to address them effectively.
Kudos to the founders of Peaq for recognizing the importance of secure supply chains in fighting global food insecurity. This partnership has the potential to deliver affordable, high-quality produce to people worldwide.
I don’t believe that the DePIN network will truly protect farmers’ data. Privacy is a major concern with these blockchain platforms.
This is such an amazing partnership! It’s great to see blockchain technology being utilized to benefit farmers and consumers. The decentralized agricultural supply chain will revolutionize the industry and ensure transparency for everyone involved.
I’m skeptical about farmers being able to make data-driven decisions based on this platform. It sounds too complicated for them to handle.
Transparency in the food we consume is crucial, and this partnership allows us to access valuable information about the food we purchase. It empowers us to make informed choices and supports sustainable, ethical farming practices.
This partnership seems more focused on making profits rather than actually improving the quality and affordability of produce. Not impressed. 🤷♀️
There are already so many middlemen in the agricultural supply chain. How will this platform eliminate all of them? Sounds unrealistic to me.
There are already too many tech solutions in the agricultural industry. This is just unnecessary noise.
This partnership is just a way for these companies to profit off the struggles of farmers. I’m not buying it.