The Cardano Foundation says 100,000 farms in India are now registered on the Cardano blockchain. The project aims to put agricultural data on-chain so banks, insurers and agribusinesses can verify it without collecting it again.
The Cardano Foundation said in an X post that 100,000 farms in India are now registered on the blockchain. According to the Foundation, "100,000 farmlands in India are now registered on the Cardano blockchain," as its post reads.
The count marks significant progress since June, when the Foundation said about 15,000 Indian farms were registered through the initiative. According to the Foundation, the project aims to get all agricultural data on-chain, giving a transparent and verifiable way to track farm data that other services can reuse.
The data gap the project targets
The project was developed with Syngenta Foundation India and a number of blockchain tech partners. It targets the lack of agricultural data, which the Foundation says leaves over 100 million small farmers in India outside formal economies.
Without credible information on land boundaries, crop history and agricultural practices, farmers often cannot obtain financial services and insurance.
How 5am.earth verifies farms
The 5am.earth initiative uses satellite imagery, decentralized identifiers and blockchain technology. It gives each farm a digital identity tied to verified land boundaries from satellite data, and it includes historical data on agricultural practices, including biomass and crop history from up to 12 years.
The project then anchors the verified data on the Cardano blockchain. Institutions that use the service can verify the agricultural data independently, without collecting it again and again.
The infrastructure aims to give farmers access to financial services while lowering verification costs for banks, insurance companies and agribusinesses.
Room to scale
In its case study, the Foundation explained that the infrastructure could handle up to 1 million farms without requiring additional operating costs. The project also involves Cardano ecosystem players including AIQUANT, Anastasia Labs and Andamio.
Source: U.Today
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