Blockchain To Shield Australian Farmers Against Bad Climate
Australian farmers are all accustomed to dry and erratic weather conditions influencing day-to-day business. Reports over the last 20 years illustrate that these conditions will only worsen — with an enhanced climate expected to have decreased annual profits by 22%.
The recent bushfire season has had a destructive influence on the agricultural industry. NASA mapping data expected that 8.6 million sheep and 2.3 million cattle across New South Wales and Victoria were hit, and about 500,000 total livestock perished.
While severe temperature falls and intermittent rainfall gives a vision that the worst is over, this is far from the truth. Dozens of bushfires still damage the drought-stricken landscape, and temperatures remain to rise. Resources are becoming less available, leaving many farmers — who were already battling dry climates and persistently weak profits — on edge.
Blockchain helps develop agricultural efficiencies in times of crisis
Blockchain — an open-source and secure database that gives traceability of records — opens up new and exciting possibilities for improved agricultural productivity. Customers are eager to know the items they are purchasing are safe, clean, and sustainably produced. Visibility along the supply chain gives advantageous information that is not otherwise obtainable.
This year, we saw constant barriers impacting farmers who could not get the emergency assistance they wanted. Government teams like Agriculture Victoria battled to reply to urgent livestock loss requests, which are deemed biosecurity hazards. And farmers, who frantically needed additional food, water, fencing, hay, and other farm facilities, faced logistical nightmares when these essentials couldn’t be achieved.
The industry has the opportunity to modify the way it does business. There is no obligation to accept the way “things have always been” as being sufficient to meet new global and domestic challenges. New logistics methods based on emerging technologies can enhance the flow of goods and information.
To make an impact, we need an industry revolution. Blockchain is a breakthrough way to share information and store data.
Adopting transparent technology solutions in the agricultural industry opens new opportunities for industry co-operation and boosted profits. By digitizing the supply chain process, we can securely store and share data, strengthening the link between farm and product.
We’ve already seen the influence blockchain technology has had on other businesses, like the hotel and taxi industries. Those who were reluctant to adapt to the changes were adversely affected. The time for change is now upon the logistics and farming sectors.
What embracing agritech innovations mean for farmers
Firstly, blockchain technology involves farmers who can trace the entire supply chain: from farm to the stockyard, abattoir, feedlot, and exporter, giving more comprehensive control over livestock data. Livestock can be traced from birth through life, and even their feed can be traced in real-time. This enables farmers to determine the cost of feed per paddock or animal, which helps in controlling food inventory and developing costing modules to improve budget management.
Secondly, by associating on a single open-source application, farmers can better accommodate environmental changes by generating new and improved business models. Farmers can form partnerships with allies and feed essential data to crucial organizations. When more farmers are utilizing the secure database, farmers can highlight passages or inefficiencies and accurately determine where issues along the supply chain are slowing productivity down.
Thirdly, in times of crisis, a traceable platform describes where the most significant requirement is and can be the best solution in assuring we make the most significant influence as we relieve and recover, even when the bushfire season is over.
We learned this year that conventional communication and data-storing systems are not adequate. Embracing transparent technological solutions in the agricultural industry is crucial, particularly considering that climatic conditions nation-wide are anticipated to worsen.
Farmers cannot afford to fall behind in the climate crisis
Farming is becoming more unpredictable, and bushfire seasons are becoming more apparent and are lasting longer. As an escalating climate becomes a more urgent issue, there will be greater pressure on workflow and data-sharing solutions.
Blockchain technology is the answer Australia has seen for. As farmers look to reconstruct their land and livelihood, we suggest utilizing agricultural innovations that will develop the profitability, productivity, and environmental sustainability of their farming businesses.
We need to be conscious of the potential in embracing digital technologies like blockchain over a range of industries. The climate isn’t getting any cooler — like farmers. We cannot afford to fall behind.