crypto for the development of local farmers...can.....?

[Koro-Sensei]

Until now, several cryptocurrencies related to the agricultural sector, seem to be less effective for farmers and also there is no progress. because of several projects such as those in my own country, including Hara Token (HART) and Agricoin (AGC & AGCMN).
  who try to use the agribusiness sector as an asset for crypto offerings, there is no development and tends to be left behind even though 30% of the world's population is a farmer and the other 10% is related to agriculture. Can cryptocurrencies still be applied to future economic developments in the agricultural sector because it seems difficult?

I don't think so unless cryptocurrency is used just to fund the development of these agricultural lands other than that I don't see any uses of it. However, a blockchain certificate can be used to determine the authenticity of that product and its origin. Blockchain can be used to food supply chain and to boost its consumers trust.

[Findingnemo]

Money can help the farmers so cryptocurrency can help the agriculture but never relate the growth of an agricultural related shit project with the effective use of cryptos in that field. No more shit coins and tokens, bitcoin can do the enough things needed so lets stop feeding the scammers in the name of new ideas.

[fiulpro]

Until now, several cryptocurrencies related to the agricultural sector, seem to be less effective for farmers and also there is no progress. because of several projects such as those in my own country, including Hara Token (HART) and Agricoin (AGC & AGCMN).
  who try to use the agribusiness sector as an asset for crypto offerings, there is no development and tends to be left behind even though 30% of the world's population is a farmer and the other 10% is related to agriculture. Can cryptocurrencies still be applied to future economic developments in the agricultural sector because it seems difficult?

Here is why I do think it's an amazing idea and why it would work for developing countries.

The farmers grow and sell in a bulk to the middle man which then sells to consumers. Now the cost is very very different. Let me tell you some stats. The cost of something x as sold by the farmer is generally = 1y but when you buy it from the middle man it's 20y.

Now the reason farmers are not able to do anything is because they do not make profits for them since sometimes fertilizers etc are provided by the middle man, now this cycle continues for ages and they are always on the border.

Now if a farmer can sell his vegetables for even 10y then he would be making 10 times the profit on every sale. This would only work if he has good knowledge of cryptocurrencies and how he can use them, which again highlights another probelm: the lack of education in the poor sector of the society.

Now the government might have to ;
1. Give free classes to teach them about cryptocurrencies and how they can be used to expand their business
2. Provide them easy loans to start it on their own for the time.
3. Have a good support system for them till they are able to understand how everything works.

This is hands down an amazing idea and this way even local farmers can have a say in the national and international markets.

[Cling18]

A certain coin needs further improvement and development so the agricultural sector would notice it. Most farmers don't have time for the internet but if the developers of coins would introduce it formally including the advantages of the coin, I'm sure that it would attract the agricultural sector to invest in it or to adopt it as an agricultural coin.

[teosanru]

Until now, several cryptocurrencies related to the agricultural sector, seem to be less effective for farmers and also there is no progress. because of several projects such as those in my own country, including Hara Token (HART) and Agricoin (AGC & AGCMN).
  who try to use the agribusiness sector as an asset for crypto offerings, there is no development and tends to be left behind even though 30% of the world's population is a farmer and the other 10% is related to agriculture. Can cryptocurrencies still be applied to future economic developments in the agricultural sector because it seems difficult?

The problem with any good based business is that there cannot be a very comprehensive blockchain solution for them exception for their supply chain. Their production and harvesting can in no way be connected to blockchain, only place where you want atleast some sort of reporting and ease is the supply chain where you want a place where sellers could meet buyers and eventually sell their harvests at a transparent price. What I also feel is that farmers or field workers don't have the expertise to access these sort of solutions especially in the countryside and in developing/ underdeveloped countries, so there might not be much use case of such a thing.

[ninis45]

who try to use the agribusiness sector as an asset for crypto offerings, there is no development and tends to be left behind even though 30% of the world's population is a farmer and the other 10% is related to agriculture. Can cryptocurrencies still be applied to future economic developments in the agricultural sector because it seems difficult?

Here is another one that I had close interest in back when ICOs were more "glamorous" called Bananacoin - https://www.investopedia.com/terms/b/bananacoin.asp

ANN Thread still exists here - https://bitcointalk.org/index.php?topic=2112748.0

The topic should be read by every new investors out here, shows the reality of what can actually happen to many lucrative sounding projects that could have been well developed, but failed to do to reasons unknown. Currently the site has not been updated for a year.

I think cryptocurrency can be used for a lot of positive development, but it is not a magic bullet to every problem - a bubble that had been created by ICOs a few years back and then everyone was creating a coin for everything possibly you could think of, leading to a large number of garbage projects. Crypto can be used to fund a farm and its architecture, furniture, electricity and expansion. It can be used as the mode of payment for online services that the farm can provide. But all these things need time to grow and they will not happen overnight. Maybe these failed projects can be the starting step of some new startup, I am optimistic of such.

maybe most agricultural projects are of less interest but as a farmer's son I know very well what agriculture needs at this time and cryptocurrency is very possible and it's just how to apply it: as you said agriculture today relies on banking for its business loans which is sometimes difficult to obtain. get it and marketing is still constrained by a system that does not benefit the farmers so that sometimes they are deceived by transaction payments. Isn't it not impossible that crypto will experience significant development and the government/banks will accept crypto

[TheUltraElite]

Pretty sure the investors went bananas...

Dont have any contacts of anyone who invested, but the general assumption from reading that article and looking at the site is that they did go bananas. I was hopeful of it at one time though I did not buy any.

maybe most agricultural projects are of less interest but as a farmer's son I know very well what agriculture needs at this time and cryptocurrency is very possible and it's just how to apply it: as you said agriculture today relies on banking for its business loans which is sometimes difficult to obtain.

I know the hardships that farmers in many countries specially the third world face when getting agricultural loans and so. However in order to think that they would use crypto to fund their project, they would need crypto in the first place too. Now farmers are not that rich that they can afford a couple of bitcoins - so where is the money going to come from?

Lending bitcoin to farmers is another option or using tokens to buy shares of the company is another option that might be interesting to many investors. Indeed this was what the Bananacoin project was trying to do, if I presume correctly.

Problem is that even if the project failed, there is lack of follow-up to what actually happened, we can only speculate on the forum but maybe one of their own can only tell us the reality - this lack of follow-up is also another reason why other projects cannot adjust their use of funds by learning from other project's mistakes.

get it and marketing is still constrained by a system that does not benefit the farmers so that sometimes they are deceived by transaction payments. Isn't it not impossible that crypto will experience significant development and the government/banks will accept crypto

There is no excuse for someone who deceives a farmer, but the farmers dont have any other alternative at the point either.

[Lubang Bawah]

If farmers in developed countries such as South Korea or the USA this is of course easy, but in my country it is very difficult because the farmers' lives are very poor, every harvest is only to pay fertilizer debts and rice field rental fees, maybe this is a tough job to be able to make farmers progress and can develop potential.

[noorman0]

-snip-
as you said agriculture today relies on banking for its business loans which is sometimes difficult to obtain. get it and marketing is still constrained by a system that does not benefit the farmers so that sometimes they are deceived by transaction payments. Isn't it not impossible that crypto will experience significant development and the government/banks will accept crypto

If so, no special treatment is needed. It does not distinguish it from other businesses which basically depend on banks and the general lending system.
When imagining how a defi loan works that requires an upfront guarantee and a comparable value, wouldn't a bank loan be better with a "lighter" guarantee and legal protection?

[Haunebu]

Cryptocurrencies are basically a form of money and the people who make claims to support farmers through various tokens etc are usually corrupt with ulterior motives and the farmers end up getting ignored.

The question isn't whether cryptocurrencies can help improve farmer lives around the world. Instead, the actual question is whether the people involved with such agriculture related tokens legitimately want to help the farmers.

[macson]

Until now, several cryptocurrencies related to the agricultural sector, seem to be less effective for farmers and also there is no progress. because of several projects such as those in my own country, including Hara Token (HART) and Agricoin (AGC & AGCMN).
  who try to use the agribusiness sector as an asset for crypto offerings, there is no development and tends to be left behind even though 30% of the world's population is a farmer and the other 10% is related to agriculture. Can cryptocurrencies still be applied to future economic developments in the agricultural sector because it seems difficult?

It's too soon to introduce cryptocurrencies to farmers because their interest in crypto is still very minimal.  Besides that, there is very little education for farmers about technology and that's one of the reasons too.  surely in the next 5 to 10 years, crypto projects on agriculture will be more popular and successful than now.

[CryptocurencyKing]

It's not a new development in the crypto field that projects turns out to be scam oriented or a failed project based on certain issues which isn't limited to the team behind. The team behind is the most important of these factors because, they decide to stay the course or idea about the whole agro based project or just chat away the generated funds.
So, the solution often rest with the project but then, you don't expect some free giveaway out of the project should you not have invested. There certainly would be protocols to benefiting from these developments and should the project be a legit one, your most likely to see them delivering there promises, following established terms and conditions.

[fullhdpixel]

Until now, several cryptocurrencies related to the agricultural sector, seem to be less effective for farmers and also there is no progress. because of several projects such as those in my own country, including Hara Token (HART) and Agricoin (AGC & AGCMN).
  who try to use the agribusiness sector as an asset for crypto offerings, there is no development and tends to be left behind even though 30% of the world's population is a farmer and the other 10% is related to agriculture. Can cryptocurrencies still be applied to future economic developments in the agricultural sector because it seems difficult?

Not just agriculture sector, any sector will get benefited out of cryptocurrency if devs are honest and hardworking. Like people already mentioned about those projects, I guess all of them might have turned scam already hence you cannot expect them to be helping agriculture to be flourishing.

Moreover, if you are having funds to develop anything then you can go for it; this way here cryptocurrency is used only for raising funds and not for any technological improvement. Cryptocurrencies or blockchain technology can be used to make efficient system to have better results but I am not sure here cryptocurrency or blockchain technology got anything to do with agriculture sector in technical wise.

[Ucy]

I'm actually more interested in development of self-sustaining farming system that's well built to attract talented/passionate farmers, buyers, sellers, researchers, workers, investors etc to depend on one another. You could attract them on fraud-proof platforms (with the right agric-friendly tools/infrastructures) that focus more on local farming and allow participants to monitor and regulate themselves based on set rules, and help ensure that most things are done properly.
I don't think investors should consider making lots of money at the expense of cheap healthy foods. There could be other ways to make money to avoid affecting the cost of good quality food too much

[24Kt]

It's not a new development in the crypto field that projects turns out to be scam oriented or a failed project based on certain issues which isn't limited to the team behind. The team behind is the most important of these factors because, they decide to stay the course or idea about the whole agro based project or just chat away the generated funds.
So, the solution often rest with the project but then, you don't expect some free giveaway out of the project should you not have invested. There certainly would be protocols to benefiting from these developments and should the project be a legit one, your most likely to see them delivering there promises, following established terms and conditions.

What I am seeing here as the biggest problem is that most of the teams that ventured into agri-related blockchain projects have no real experience in agricultural farming. So they are just using the front of the agri-idea to attract potential investors, and that will make them as a failure because they really don't know how to address the actual problem of agricultural industry. So if they can't raise enough funds along with some bottlenecks along their journey, they easily give up because they don't have strong affinity to the industry that they are promoting. The success of a crypto-related project when it comes to agriculture maybe lies the fact that it needs a company that is already existing long time in the agricultural industry so they will not starting from scratch and know what to do already.

[Hydrogen]

Can cryptocurrencies still be applied to future economic developments in the agricultural sector because it seems difficult?

Most crypto start ups target a path of least resistance.

Agriculture and farming have to represent an esoteric niche area as far as crypto start ups go. Me being me (guy accused of thinking crypto can solve every issue faced by society), I could come up with vague ideas where blockchain tokens might provide some value for the farming industry.

I think everyone knows fertilizers, pesticides and herbicides used by farmers are all derived from fossil fuels. Increases in the cost of oil and fossil fuels is leading to higher fertilizer, pesticide and herbicide costs. Which is increasing the cost of food products. Its a double whammy where increases in oil are also affecting food shipping costs.

One potential method of reducing farming production costs is reducing the cost of oil and fossil fuels. And one potential method of achieving a reduction in oil and fossil fuel costs is to expand the supply of oil and fossil fuels.

Here is an idea on how this might be accomplished.



Notice a small supply of plastic waste there? Where does plastic come from? Its essentially made from oil. All plastic waste and plastic pollution littering the world is oil. There are methods to take that plastic waste and recycle it back into a fossil fuel. Which could potentially expand the world's fossil fuel supply, decreasing shipping, fertilizer, herbicide and pesticide costs.

A crypto token could be built around funding and rewarding efforts to recycle plastic waste into oil. To benefit farmers and reduce food production costs.

https://www.youtube.com/watch?v=oRkVYgNL8n0
ReOil: Getting crude oil back out of plastic

There are other different methods crypto tokens might be used to potentially improve circumstances for farmers. Its not an issue which lies around a path of least resistance most often taken by start ups. But it is possible it could be done.

[Hamphser]

Cryptocurrencies are basically a form of money and the people who make claims to support farmers through various tokens etc are usually corrupt with ulterior motives and the farmers end up getting ignored.

The question isn't whether cryptocurrencies can help improve farmer lives around the world. Instead, the actual question is whether the people involved with such agriculture related tokens legitimately want to help the farmers.

Why wont really be just dealing with fiat? It isnt really that necessary for it to be in form of token which i could say a little bit of or not really necessary.

I dont really see any possible real use case or connection on how this would help out farmers because it could be simply done if there would be someone

will fund up when they are trying to asking for some improvement or add up.For now i dont see any relevance for this one.

[Darker45]

I don't know which country you're from but I'm also from a largely agricultural country. The agricultural problems here are multi-faceted, but I don't think agriculture-focused altcoins or even the blockchain technology itself are the apt solutions. On the contrary, they might only end up making the issues more complicated. These technologies might be applicable to the agricultural sector of advanced countries but not to poor agricultural countries like mine.

The needs of the poor farmers in my country are mostly the basics. They don't have the money so they need access to subsidies and microloans. They badly need advanced farm machineries as most farming and post-farming processes here are done manually, therefore, time-consuming and inefficient. These are just some of the demands of the farmers in my country. I don't know how a shitcoin could address those.

[skarais]

I don't know which country you're from but I'm also from a largely agricultural country. The agricultural problems here are multi-faceted, but I don't think agriculture-focused altcoins or even the blockchain technology itself are the apt solutions. On the contrary, they might only end up making the issues more complicated. These technologies might be applicable to the agricultural sector of advanced countries but not to poor agricultural countries like mine.

The needs of the poor farmers in my country are mostly the basics. They don't have the money so they need access to subsidies and microloans. They badly need advanced farm machineries as most farming and post-farming processes here are done manually, therefore, time-consuming and inefficient. These are just some of the demands of the farmers in my country. I don't know how a shitcoin could address those.

The OP seems to be from Indonesia considering that Hara is one of the project originating from Indonesia. I haven't seen much progress from the project since its launch although it's still active today. I don't think Hara will be of much help to the agricultural sector especially in Indonesia given that so far interest in the project appears to be very weak and its products are only traded on one of the local exchange with a volume of $7K in 24 hours.

The agricultural sector is one sector that has received a lot of attention from the government, where until now, quite a lot of government assistance has been channeled to this sector. I wouldn't say Hara will help farmers all over Indonesia because in principle a project like this has the main focus on raising fund for the construction of the project. Even today the website seem mediocre and not a safe site to visit.

Code:

http://www.hara.ag/

[Darker45]

~snip~

The OP seems to be from Indonesia considering that Hara is one of the project originating from Indonesia. I haven't seen much progress from the project since its launch although it's still active today. I don't think Hara will be of much help to the agricultural sector especially in Indonesia given that so far interest in the project appears to be very weak and its products are only traded on one of the local exchange with a volume of $7K in 24 hours.

The agricultural sector is one sector that has received a lot of attention from the government, where until now, quite a lot of government assistance has been channeled to this sector. I wouldn't say Hara will help farmers all over Indonesia because in principle a project like this has the main focus on raising fund for the construction of the project. Even today the website seem mediocre and not a safe site to visit.

That is why I often question the real motives behind so many cryptocurrency projects. The moment a crypto project is built, token created, assigned subjective value, admitted on exchanges, heavily promoted for price increase, encouraged for speculation, and so on, it becomes purely selfish money-making.

There are countless cryptocurrency projects that ended up functioning too far away from their original objectives. Mostly, their tokens serve no other purpose than for speculation. The tokens mentioned by the OP might be examples.