Image source: OceanProtocol.com
Agritech startup Dimitra is giving small farmers a way to monetize the data they generated on things such as soil conditions and crop yields to generate more income and help others to become more productive.
It’s doing so via a partnership with the decentralized data exchange provider Ocean Protocol, which will use its unique web3 capabilities to enable farmers to share their data through its privacy-preserving marketplace.
One thing about Dimitra’s small farmer community is that it generates a lot of information on farming and agriculture that can be useful to others. Its platform, available via the web and mobile app, provides farmers with tools to track things such as crop inputs, fertilizer usage, seed inputs and crop yield. Other capabilities include sensors used to monitor the conditions in their fields, plus integrated satellite imaging, artificial intelligence-powered analytics and more.
Dimitra also provides tools for livestock farmers, allowing them to track everything about their animals from their date of birth, the vaccinations they receive, what foods they eat, any illnesses, their sale, the abattoir they go to and more besides. Each animal can be tracked via a sensor. The idea is to help farmers maximize the weight of their livestock, minimize risk and get the best possible prices.
Dimitra, which also provides decentralized finance for small farmers, believes the data its users generate is invaluable to other farmers, and that many will be willing to pay for it. Users will be able to publish, curate and sell data on the Ocean market, generating another revenue stream, while others will benefit from greater insights than they’d ever be able to generate by themselves.
“Farmers and cooperatives in the Dimitra ecosystem produce a great deal of valuable data regarding soil conditions, crop conditions, animal health, seed performance and the extended food chain,” Demitra Chief Executive Jon Trask said. “This partnership provides Dimitra ecosystem farmers with a secondary source of revenue through the monetization of their data, and reinforces the value of agricultural digitization to increase crop yields, reduce costs and mitigate risks to their farms.”
Besides helping small farmers accrue extra revenue and boost their crop yields, the partnership with Ocean will help Dimitra achieve its wider ambitions of driving agritech innovation. The company aims to grow its ecosystem to 100 million smallholder farmers by 2025. Initiatives such as this one will enable it to provide more value to platform users as it strives to reach those goals.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.