Please describe your proposed solution.
The idea is to create an Oracle that leverages satellite imagery for quantitative agricultural analysis, serving as an input for RealFi protocols on the Cardano blockchain.
This Oracle would process and interpret satellite data, running algorithms for crop identification, yield estimation, and other relevant parameters. The analyzed data would then be securely and reliably made available to the Cardano blockchain in the form of a paid oracle.
Current and future RealFi protocols, like prediction markets or lending platforms, could use this oracle to power their smart contracts.
What we’re building
The scope for this proposal is to build a working prototype to serve as proof of concept. This PoC will be limited to any of the available Cardano testnets.
The core of our project is a data provider component in charge of executing the quantitative analysis of the fields that have been flagged for study. This component will be responsible for the following functions:
- Provides a web frontend and an API that allows users to specify the shape and location of the fields (demo).
- Stores the geo-coordinates of each field in a geo-aware database; along with the definition of the analysis to be performed.
- Performs background cron-jobs fetching new multispectral imagery from most common satellite sources (such as NASA’s Landsat program or ESA's Sentinel-2 program)
- Generates raster images representing NDVI and other similar values from the multispectral images.
- Aggregates the raster data into discrete buckets according to the requirements defined by the final data consumer.
- Submits the discrete values as reference input to the Cardano blockchain where it can be consumed by other protocols.
The following video shows the mock prototype that we've built fo the frontend component:
https://youtu.be/4Z3MA_pXYIc2nd Phase (out of scope for this proposal)
On a 2nd iteration of our solution, we’re going to explore how to expand our PoC into a fully functional MVP. Some changes will be required to the software, such as the capability to decentralize data providers among independent entities; either by creating our own consensus mechanism or by reaching out to existing decentralized oracles in the Cardano ecosystem to integrate our data feed.
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
Introduce a novel use-case: Our solution offers new use cases within the Cardano ecosystem, enabling farmers, financial institutions, insurers, and consumers to leverage accurate agricultural data for decision-making, financial services and insurance. This expands the ecosystem's value proposition and attracts a diverse range of users.
Increased adoption / chain activity: By addressing key challenges in the agriculture industry and providing innovative solutions, our project has the potential to attract a significant number of users to the Cardano ecosystem. This increased adoption contributes to the ecosystem's growth and sustainability.
How do you intend to measure the success of your project?
- Testnet adoption: we’ll measure the amount of fields registered for analysis and the number of transactions consuming reference inputs on-chain.
- Oracle performance: we’ll measure performance of the oracle in terms of data retrieval, processing, and transmission to the blockchain.
- Data accuracy and completeness: we’ll assess the accuracy and completeness of the farm data recorded on the blockchain by comparing it to analog analysis performed manually using standard techniques.
- Community growth: we’ll measure community engagement through our social media channels (such as Discord, Twitter and LinkedIn).
- Feedback from data consumers: We will gather qualitative feedback from projects or applications consuming the farm data. This will help us assess the satisfaction levels, reliability, and usefulness of the provided data.
Please describe your plans to share the outputs and results of your project?
- Engage with the community through webinars, workshops, and industry conferences.
- Provide detailed documentation and open access resources for developers and researchers.
- Seek research collaborations with academic institutions and industry leaders.
- Share findings, data sets, and insights to inspire new projects and drive advancements.