Modernizing Farm Management Software (FMS)

Modernizing farm management software is another valuable application of blockchain technology in agriculture. Farm management software will soon become ubiquitous. Blockchain technology in the agri-food supply chain empowers stakeholders and consumers with reliable information. It also streamlines tracking and reduces the reliance on third-party network monitoring and control. Most farm management systems focus on specific tasks and employ proprietary specifications. Agriculture is becoming increasingly data-intensive, requiring farmers to collect and analyze vast amounts of information from various devices (sensors, machinery, meteorological sensors) to enhance efficiency and communication.

Blockchain can assist farmers in managing weather crises by leveraging IoT sensors to generate data or by farmers manually storing information. This data, along with the distribution of crops to processing companies, supply to wholesalers and retailers, and consumer traceability, forms a comprehensive supply chain. Smart farming enables sensors to gather vital crop-related data. This data, collected using IoT sensors or manually by farmers, is stored on a decentralized storage platform like IPFS, with addresses recorded on the blockchain.

IoT-enabled vehicles can transport crops, capturing temperature conditions throughout the process. Smart contracts validate bids, and companies store information from each processing step on the blockchain. Data from refineries helps wholesalers and retailers assess food quality. Blockchain ensures compliance at every stage of the food supply chain. This traceability empowers food companies to conduct recalls or investigations swiftly and efficiently.

As farmers adopt RFID tags, drones, and artificial intelligence, they'll require an operating environment capable of managing these technologies and ensuring system and data security. Blockchain is the ideal candidate for this role. Its open architecture provides unrestricted data access to all parties, while its security features safeguard information integrity. The new farm management systems will need this open yet secure environment to function effectively.

Farmers are increasingly adopting sensors, drones, and artificial intelligence devices. By incorporating blockchain into this technological mix, you create a reliable, cyber-resistant, and secure system. Blockchain-based farm management software (FMS) can reduce inventory and transaction costs between agricultural suppliers. Additionally, farmers can more effectively and efficiently monitor equipment status and crop growth in real time. The global FMS market is projected to reach $4.22 billion by 2025. With a 50% increase in agricultural product demand anticipated by 2050, coupled with water shortages and stagnant crop yield growth, innovations in farm management software are crucial for enhancing yields.