Web3 will be a sustainer of better agriculture

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The more the knowledge, the more the confidence. That's why when others are doubting the potential of technology like the advancement through blockchain, some on the other hand are pushing forward, embracing and gaining opportunities bundled up with rewards. I did write an article pertaining to web3 and life's essentials in should web3 tackle the basics?. Nevertheless, this article will center on the relationship with web3 and the agricultural sector as this is very important for the sustenance of humanity.

Before we move forward, what are the current challenges faced by farmers especially in the underdeveloped countries of the world? With many mouths to feed and less input, the problem of food scarcity must be addressed. Even in developed or advanced countries as the case may be, proper financing, transparent record and excessive taxation still remain barriers that add up.

We mostly pay deaf ears to proper data management, yet in it absence, sectors including agriculture
become very vulnerable. Can web3 data immutability help in proper agricultural documentation? Of course. So how does proper data management help the agricultural sector? Inadequate data management deters investors confidence. What are your farming records, what are your soil type and what improvement upon your farm will sustain better yield? Web3 will help eliminate data forgery by bypassing intermediaries and speaking directly with farmers.

The second part is fundraising, how difficult it is for small and medium scale farmers to raise capital in a crowded and unreliable intermediary channel. This has brought about under production in local agricultural area. The idea of web3 solution will be the creation of reward token for farmers for redemption purpose. Decentralized finance will boost agricultural practices in rural areas. Access to funds without intermediaries or delays will be a hedge to Africa activities limiting postponed processing.

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In several times have lands been left unploughed and uncultivated due to promise and failed factions that fill the centralized system. How sure are we that a lot of agric-support activities reach due beneficiaries. The continuous rise of fertilizer price means huge capital needs to be channeled and on time especially when dealing with seasoned farming. Web3 steps in with un-barriered loyalty programs through fair fund driven technology.

Direct market and smart contracts are good for Farmers

Have we also had a look at limited and restricted agricultural market. This is in short one of the reasons farmers are shrinking into shells. There is a need for peer-to-peer marketplace which could help farmers realize the true price of agricultural products. With the presence of high profit margins for farmers, there is a motivational approach that will steer up the agricultural industry. High food supply for the people and high profit is a win-win.

Adding to that, smart contracts will ensure transaction delays are annulled. debt is also another challenge that must be curbed to ensure productivity. A pay as you go service through smart contract incorporation to web3 ensures capital is always available for production and re-production of goods. Setting agreements and an unshuffled price can help promote fairness between farmers, suppliers and buyers.

Web3 incorporation of Internet of Things (IoT) will be another needed advancement. How can this be achieved? Machine sensored equipment coupled with blockchain tech management, helps to monitor weather, soil, crop yield, possible pest control practices and knowing the market demand of goods to avoid both over and under production.

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Current challenges

We may be seeing some web3 delays in the agricultural sectors currently. It will take some time for web3 tech to completely dominate the agricultural sector. We ALL know the challenge of poor electricity, Internet connection and even devices in the rural areas. Without these three main factors, it becomes difficult and near impossible to incorporate web3-agric resolution. With the government not ready to put a hand in this, how many individuals will be ready to spend on buying smartphones, IoT devices and a secured network?

Secondly, we have to look at the education level of farmers, are they ready to understand the tech? There are many undereducated farmers who will even need time to study and understand computer basics, move up the ladder and even understand a more broader tech like web3. Without this, access to online markets and fundraising platforms still remains unreachable. I must say, resources need to be pushed to first educate farmers if this is to be a full fruition soon.

I will always say, the problem of web3 slow adoption is not web3, but people stuck in an old system, limited knowledge, no readiness to learn new things and a negative view of what technology has to offer. The list of what web3 can offer to agriculture and increase our food basket is really enormous. One area that really needs this is Africa which is an over 35% agric-dependent continent.

To conclude, let me add, the future of agriculture will depend on how tech is able to push in a better, efficient and affordable agricultural practices to ease global scarcity. Web3 is poised to achieve this. If given the proper attend and adoption, we may see our entire economy revamped to life. Food is a necessity, I must say, if this can't be improved upon then advancement in technology is to our doom.

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