Harnessing Pavocoin’s Technology to Benefit Turkey’s Agricultural Sector and Economy
While the majority of us simply consider nuts to be an extremely good source of protein, and tasty at that, they can play a key role in the economies of some countries. However, the agricultural expertise used to grow such crops tends to be rudimentary, resulting in mismanagement and other inefficiencies. Pavocoin AG, the provider of an IoT blockchain solution for the AgTech ecosystem, is working to remedy this situation. The company’s Internet of Things software platform, which has already been deployed at three farms in California, is being rolled out in other countries. Turkey’s economy (in particular its agricultural sector, which provides employment for 20% of the working population and generates more than 6% of GDP) could definitely benefit from Pavocoin’s innovative technology.
Turkey accounts for an estimated 75% of global production of hazelnuts, with small growers in Eastern Turkey along the Black Sea coast responsible for the bulk of production. Approximately 4 million people are dependent on the hazelnut industry in the country, and they were hard hit in 2014 by unseasonal weather - hail storms and frost devastated the crop. In addition to the adverse impact on livelihood, such extreme conditions are detrimental to one of the country’s major exports. According to the Black Sea Exporters Union, hazelnut exports generated over USD 2.8 billion in 2015.
By combining traditional farming practices with Pavocoin’s use of the blockchain, artificial intelligence, machine learning and application programming interfaces, hazelnut growers, both big and small, could reap significant benefits for both themselves and Turkey’s economy in general, tapping into global demand for healthy high-protein products.
Pavocoin’s data scientists have developed a method that can be used to predict the total hazelnut yield, modeling the responses of individual trees to local environmental conditions. Most importantly, the crop estimations, based on analysis of historical yield values over a 10-year period, factor in the impact of current weather conditions. As a result, Pavocoin’s predictive models help to mitigate the risks caused by potential inclement weather.
Pavocoin Co-Founder and Vice-Chairman Allan Young observes: “The predictive modeling by our data scientists also show how farmers can achieve significant increases in crop yields by implementing our state-of-the-art technology in crop growing, processing and distribution. We offer them an opportunity to combine traditional farming methods with our IoT gateway to monitor and optimize production practices in real time.”
Pavocoin’s technology can be used to record and analyze activities from planting to spray records and shipping. Mr. Young explains: “The Pavo software system regularly collects data on the soil near the crops. This information is then relayed through the gateway to data storage. It is subsequently provided to users through intuitive and user-friendly interfaces. The farmer can then track the information and optimize the growing cycle by making sure that crop measurements remain within optimal ranges.”
Pavocoin is constantly enhancing its technologies and soon plans to introduce luminosity and water quality cultivation parameters, as well as environmental control features that will enable growers to use the value-added data to manage the whole cultivation process from anywhere.
Mr. Young adds: “We are doing all we can to enable our clients to achieve higher yields and at the same increase automation and cut costs. Thanks to the blockchain, we will help farmers using our marketplace to optimize sales, distribution and supply planning.”
Pavocoin’s marketplace is the central hub for the company’s token economy, powered by IoT and blockchain. Participants use the company’s utility token (PavoCoin) to buy and sell crops, data and ancillary supplies on the platform, the built-in smart contracts of which guarantee secure transactions, payments, and cashless transactions. The company recently concluded the first public presale stage of its ICO. The second stage has started, with potential token buyers eligible for a 33% bonus until August 6, when the main sale that runs until September 15, 2018, will begin.
To find out more about Pavocoin, visit website at https://pavocoin.com/
