Please describe your proposed solution
The solution will include the ability for the entire ecosystem and agricultural value chain to tap into creating value on top of the agricultural field boundaries through minting the NFTs. The solution would include the development of a customised web-application which will include all the fundamental data-layers on field boundaries developed in Fund 11 project (i.e. Project ID: 1100103 and 1100294) and include them in a visual application which includes a map (with satellite imagery data) for the first 1,000 agricultural fields in Kenya and Tanzania which have been minted and the NFT (first example of NFT here: <https://pool.pm/asset1zsqw5epzclynwcyev9phfgwc8agn880709ue0n>), as well as an additional 20,000 field boundaries across Spain, Kenya, Tanzania, India, Germany and Norway which includes a full overview of the (40+ years of productivity/yield data history for that one particular field, as well as how much % has been planted in hectares in the last 7 years back to 2016) which will then be available in a pop-up on the particular field linked with a customised minting link to each asset, an example screenshot of a CSV file has been attached (here) to highlight how this will work.
The solution to develop will include a custom web-application with integrated Satellite imagery data (Sentinel-2 at 1 meter per pixel resolution, with 12 spectral bands), including map, search function, field boundaries detected along with productivity history (yield data, historical for a 40 year period), including development of custom url links to enable the scaling of use-cases, specifically targeting:
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Microfinancing - enabling financial lenders and banks in the local region of the agricultural fields and farms, which would:
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Reduce underwriting cost and time: the ability to have all the production historical data for one farm or field, would enable underwriters in banks to save cost and time, not needing to collect data directly from farmers (which is often paper-based on unreliable, i.e. no way of validating the data provided by farmers by third party stakeholders) and to automatically gather all the information needed to process an application.
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Improving lending terms for the farmers: when the bank has access to historical production data, and can confirm and validate by a decentralised and neutral source (i.e. Cardano blockchain) this would mean the banker and underwriter of the loan would be able to reduce their risk and also premiums on farmers who do not have any digital footprint, through accessing the Cardano chain and NFT for that particular field and farm where they can easily validate and check that (a) the agricultural fields have been planted in the last 6 years, meaning the farmer is actively farming the piece of land they’re requesting financing for (b) the agricultural field has produced below or above the average in the region, as we will deliver field benchmarking index, which will enable the banker to validate the performance of the fields historically and then issue financing (for crop input supply, i.e. seeds, fertiliser and crop protection) to the farmer.
The screenshot below shows an example of the field benchmarking index and how it assesses the productivity (equal to yield) over a ~40 year period, enabling farmer to assess how they can improve their performance but also for the value-chain and suppliers like banks, insurance companies and seed, fertiliser and crop protection vendors to evaluate clients.