In a bid to revolutionize the global food commodity trade and empower farmers, farmer-centric blockchain Farmsent has revealed a new partnership with the layer-1 DePIN-focused blockchain Peaq.
This collaboration, announced on April 9, marks a step forward in Farmsent’s goal of decentralizing the agricultural supply chain to enhance transparency in the global food trade and build a global Web3 marketplace that connects farmers directly with consumer-facing businesses worldwide.
By leveraging a decentralized physical infrastructure network (DePIN) of sensors to track product quality and provenance, Farmsent claims it can eliminate centralized middlemen and reduce costs for all stakeholders, all while ensuring transparency across the supply chain.
Cointelegraph heard from Yog Shusti, the co-founder and CEO of Farmsent, about the use case of DePINs in the agricultural sector.
Connecting commerce
Shusti called Farmsent’s DePIN use case “particularly exciting for agriculture” because the technology is leveraged in a way that benefits both farmers and consumers.
“It provides farmers with secure digital identities for better market access, but also empowers them with real-time data about their crops. This includes crucial details like soil moisture, pH content, and humidity.”
He said this information allows farmers to make “data-driven decisions” to optimize crop health and yields. Whereas for consumers, the DePIN system allows them to access information about the food they purchase.
“This could include details about the farm’s practices, the origin of the food, and how it was grown. It empowers consumers to make informed choices about the food they put on their tables.”
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