Transforming the Agriculture Industry — through a data-driven way
By Team Acentrik
Blockchain as a technology has forayed into multiple sectors, apart from Finance and FinTech, it is growing rapidly in use cases for supply-chains and other industries in the world today. One core sector emerges as a strong use case — as seen in Agriculture industry.
Research has revealed that the precision agriculture market size is projected to reach $23 million by 2030, growing at a CAGR of 13.4% from 2020 to 2030 (Allied Research, 2021). For such an industry, there is a vast potential to embrace newer and state-of-the-art technologies to develop new innovative solutions. The benefits for this is phenomenal — increasing productivity, reduction of environmental impact, optimization of crops harvest, real-time crop monitoring — the list goes on.
This brings about a significant development and growth in AgriTech companies — and this presents an opportunity for agriculture data to be managed and utilized reliably to attain more far-reaching benefits in the industry.
How Acentrik fits in
Automaton — an AI company, specializing in deep-learning framework on a unified platform — is a provider for datasets in the agriculture industry. Common issues faced by companies in this industry are the lack of available data to train AgriTech companies’ AI/ML models and the lack of secure solutions to enable privacy and sovereignty in providers’ data, which were painstakingly collected on ground.
What they have set out to solve — lack of availability to agriculture data due to the stringent requirements of significant expertise to analyze crop management in the actual fields; and lack of accessibility of these datasets to other players in the industry.
This is when Acentrik steps in — with a radical technology like Blockchain, to open the doors of such datasets to other participants on the marketplace in a secure manner and enable data privacy for such rich and valuable data for Automaton.
Agriculture data assets — now available on the marketplace
Automaton has published agriculture datasets on Acentrik such as crops’ diseases — for the use case of agriculture disease detection and identification with such data. Possible industries that would benefit from this use case are AgriTech, Drone Industry, Irrigation Industry, Government — to further boost productivity of crops.
Through Acentrik, and the principles of Blockchain that the platform is built on, data sovereignty is ensured and verified. This is seen through the Acentrik Asset Management Tokens (ERC721) that Automaton holds, as a representation of their ownership and control in the various datasets. With the distributed architecture of Acentrik, data is still in the environment of Automaton, which ensures data privacy in the rich datasets collected manually by Automaton.
Acentrik as a global data marketplace serves to provide the right enterprise-grade tools to Automaton — at a feature level to retain and promise control over their datasets. Further, at a business level to further attain their goals of reaching to prospective customers such as AgriTech and roles like agronomists, through the cross-domain ecosystem of Acentrik.
In today’s data-driven environment, enterprises are increasingly recognizing the paramount importance of extracting valuable insights from raw data.
A strategic initiative by Mercedes-Benz, Acentrik is developed for the purpose of data sharing amongst enterprises across industries. This is why a company like Innovation
Solving issues for enterprises to connect and leverage the value of decentralized data through an ecosystem is a motto that Acentrik has.