When we think state-of-the-art technology, blockchain or cryptocurrencies come to mind as a completely digital environment for transactions on the internet, the metaverse, and computers and mobile phones. But, reality is broad and transactions made with digital assets have also impacted other aspects of life that are important and that move the economy and societies.
In this context we can talk about Agricultural cryptocurrencies that tokenize agricultural and/or livestock assets or anchor their value to the price of livestock or products such as soybeansThat is, blockchain technology has contributed to the harvesting, breeding, and exploitation of animal species for meat and various other products.
Agriculture has traditionally been an activity linked to ancestral customs. However, this true idea is not at odds with technological innovation. In fact, cryptocurrencies and their underlying blockchain technology They demonstrate that it is possible to combine both worlds effectively, and there are real experiences that still seem strange to us, but are concrete and have created a powerful synergy with surprising results.
The beginning of cryptocurrency adoption for agricultural solutions
Although we can say that the use of cryptocurrencies in agriculture is still in its infancy, a germinal phaseEverything indicates that the paths ahead will be promising. Indeed, interesting progress is already being observed in various nations and production sectors.
Various platforms and assets are emerging, designed and thought exclusively for facilitate transactions and payments in the agricultural sector using cryptocurrencies and digital assets specially created for agriculture and livestock.
Increasingly farmers and ranchers They use digital wallets for their transactions. From there, they receive and make payments directly from both their suppliers and their buyers. With these simple measures, they have already eliminated the need for intermediaries and the tariffs and associated costs of an entire chain which is cut off for direct transactions.
This allows them two things: firstly, to have greater clarity and control over their income and expenses, in addition to avoiding problems such as delays in orders or payment fraudSecondly, it lowers costs for the end consumer.
Crypto farming and materialized experiences
It is a fact that agricultural and livestock producers can access transactions in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and DogeCoin (DOGE)They do it like any other player in a sector of the economy: to buy and sell.
However, Blockchain technology has served as the foundation and pillars for building a series of alternative paths. built by and for agricultural producers themselves, based on their specific needs. These are some of the initiatives that have already been implemented.
PREPARE YOUR WALLETAgrotoken: the cryptocurrency of cereals
Agrotoken is a Argentine startup that was created in April 2020 By Eduardo Novillo Astrada and Ariel Scaliter. This innovative company combines the dynamic and volatile world of cryptocurrencies and blockchain technology with the agricultural sector, one of the country's main sources of wealth.
This initiative uses the Ethereum blockchain to convert tons of grain into cryptocurrencies or tokens in a digital form that can be used as an investment or exchanged for inputs, raw materials, and services for the agricultural sector.
The project is currently focusing on three agricultural products. These are cereals, soybeans with your ERC-20 tokens SOYA, corn with CORA and wheat with WHEAThese Agrotokens have a value equivalent to the price of one ton of each corresponding product. Hence, they are considered stablecoins backed by tangible assets. This translates into liquidity and trading and financing options.
The project already has strategic alliances and promising connections with traditional economic sectors. Agreements have been established with renowned financial institutions such as the Santander Group, which already offers loans backed by these grains.
Additionally, Agrotoken has partnered with Visa. The goal is to launch a card that can be used to make purchases and payments using these tokenized grains or cereals and without intermediaries. When implemented, this solution will be fast, secure, and reliable. It will also include a refund system in digital assets every time the linked application is used.
The price backing of the three Agrotoken tokens is demonstrated by a unique mechanism. It is the concept of Proof of Grain or PoGR which certifies the existence of cereals by ecosystem members through a database. This provides transparency to all operations.
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BitCow: the cattlemen's token
BitCow is a token that acts as a innovative digital currency, which is focused on the agricultural sector. Unlike many blockchain tokens, this one is backed by the value of cattle as a tangible asset.
2.500 units have been issued And plans are being finalized to expand from the Argentine market to the US market. The operation is very simple. All those wishing to invest must purchase these assets through their digital wallet.
Once the transaction is completed, they are assigned a pregnant cow that is added to a collective capital made up of the animals of other investors. The first stage of the project operated with a 5.000-cow breeding farm, of which they have already distributed more than 3.000. The interesting thing about this is that small and medium-sized investors have received the greatest interest and benefit, and they have been involved in the purchase.
The price of each BitCow is linked to the average value of two pregnant cows in the auction market. This is because the company that created the asset, Openbit, designed a system so that part of the cost goes to the acquisition of the animal, another to a risk fund, and the rest to operating and logistics expenses such as care, veterinary services, production, stable leasing, and feeding, among others. Cows are a real asset and are raised effectively, allowing for their reproduction and, with it, the growth of the initial investment made by token holders.
With the motto of livestock for all, the company only requires buyers to register in the Openbit platform and have a bank account to make transactions with BitCow.
Avocadocoin: a crypto asset for a collaborative agricultural model
AvocadoCoin (AVDO) is the leading token of the company GreenCrypto Corporation OÜ which has launched the GreenGold Project. This project is a milestone that marks a turning point in the Mexican agricultural industry because it merges advanced blockchain technology with sustainability and the circular economy.
Its main objective is transforming field production to generate benefits, both economic for farmers and environmental. All this is done by converting into Cryptolat, a Mexican exchange platform. This initiative seeks to revolutionize access to digital assets not only in Latin America but throughout the world, and for farmers globally.
What is desired with AvocadoCoin is to address challenges such as doubling food production, reducing waste in the processes of sowing, care and harvesting of agricultural products and environmental protection. It is also aligned with the United Nations' 17 Sustainable Development Goals (SDGs). This crypto asset or token It is supported by a collaborative agricultural model This project is developed in partnership with agricultural organizations in Mexico and various other countries, all through the implementation of advanced technologies known as Agro 4.0 and 5.0.
