Farms IQ Use Cases for Accelerating Digitalization across the Agriculture Industry

• January 11, 2023
• Admin

In today’s world, businesses are at the forefront of digital transformation. With the emergence of effective technologies, the demand for effective solutions has also increased. As a result, the complication of the agriculture sector requests a technology that is distributed, transparent, and immutable in order to safeguard intellectual property ownership.

With inefficiencies and complexities influencing the movement of agricultural products throughout the globe, businesses can now leverage the power of Farms IQ to track product inventory, fight counterfeits, and cement customer loyalty. Thereby building robust systems that can help increase productivity while enhancing business value.

Use Cases of Farms IQ are as follows-

• Customer loyalty and rewards –

Customer trust and loyalty play an important role in the success of any business. Thus, businesses in today’s world look for solutions to provide an efficient and easy-to-use service for their customers. Farms IQ, incorporated with customer rewards and loyalty programs, helps integrate workflow and internal systems in order to better customer loyalty. Thereby boosting customer satisfaction and cementing customer loyalty.

• Eliminating counterfeits – 

The agricultural industry has been battling counterfeits for years. With the heavy flow of fake products entering the system, it is important to cleverly prevent look-alikes from stealing sales. Blockchain technology now provides manufacturers the ability to shine a light on fraud activities by delivering at-a-glance visibility, traceability, and recording of data from source to scale. With Farms IQ, If a legitimate item gets exchanged for fraud partially through the distribution process, it will be precisely located and understand when the event took place and where the fake items are coming from. 

• Traceability –

Agricultural supply chains are famous for their complexity. Farms IQ secures the agricultural supply chain with a real-time outpour of data, using an immutable ledger that is visible to all legal parties. Thereby, permitting the retailers to build more customer-centric supply chains that prioritize authentication and trust. Consequently, consumers can easily comprehend where the product came from, who manufactured it, and who acknowledged it before them. 

• Asset Digitization –

Farms IQ makes it easier to manage and exchange digital assets amongst different parties in a shared business network. The adoption of tokens and digital currencies is getting mainstream in today’s world. Farms IQ helps your agriculture sector in the journey of digitizing real-world assets in the capital markets by giving you a better understanding of how the speedy growth in demand for digital assets will evolve in the future.

Conclusion

With numerous beneficial applications that are already being implemented and explored, blockchain technology is making a mark for itself in the agriculture sector as we head into an era of digitalization. Farms IQ believes to transform businesses by accelerating efficiency across almost all the agriculture industries. With its next-gen blockchain-enabled solutions, Farms IQ helps companies to innovate and increase operational efficiency. Thus, helping the agricultural sector take the first step and build a decentralized future for your organization.