In the Know: Bi-Weekly Agritech Round-Up (May 25, 2018)

The world of agritech is changing every day. Check out our bi-weekly round-up to stay in-the-know on the evolving world that is agriculture technology.

Six Digital Transformation Trends in Agriculture

In order to meet the needs of a growing population, resource output must continue to grow. How are farmers keeping up with the demands in the industry? By utilizing these six new technologies as sustainable and scalable resources in agriculture.

Read more here, via Forbes. 


Manufacturing and Blockchain: Prime Time is Yet to Come

Blockchain technology is transforming the way that manufacturers conduct business and record transactions – not only currency transactions, but also with data transactions. Widespread adoption of this technology could have widespread benefits for the global economy and industry standards.

Read more here, via Coindesk.


How has Technology Sown the Seeds for Advancements in Agriculture

By educating famers on technological advancements, helping them build a marketplace online and removing the middleman in their sales, entrepreneurs are offering technological solutions to farmers to keep up with growth in the agriculture industry.

Read more here, via Entrepreneur


With Blockchain Insurers Opt for ‘Coopetition’

Coopetition is the chosen path for many industries embracing blockchain technology. Insurance companies, technologists and thought leaders are beginning to see the benefits of a shared services approach to conducting business.

Read more here, via Forbes.


Agriculture Conference Shines Light on Bluff City

More than 200 farmers, scientists and agriculture entrepreneurs attended the Davos on the Delta conference in Memphis.

Read more here, via WMC Action News 5.


Blockchain is Coming for Agriculture, and You Might Not Even Notice

Many farmers utilize a variety of technology and software to keep up with the growing demand for their crops. Industry leaders are discovering how blockchain technology delivers real value to growers.

Read more here, via Successful Farming.

In the Know: Bi-Weekly Agritech Round-Up (May 11, 2018)

The world of agritech is changing every day. Check out our bi-weekly round-up to stay in-the-know on the evolving world that is agriculture technology.

4 Everyday Industries Blockchain Technology is Changing 

Blockchain is challenging the way that organizations think and how they implement new projects. As this technology has the potential to rapidly progress throughout every industry, here are four already seeing the major benefits with blockchain.

Read more here, via Entrepreneur.


Using Science and Technology to Connect with Consumers

Talking about agriculture and the role of technology on the farm can actually help farmers build stronger relationships with consumers, bridging the gap between the acceptance of innovation that is a part of consumers’ everyday lives.

Read more here, via Farm Bureau.


Rapid Growth of Blockchain Brings Opportunity, Change to Agriculture

The agriculture industry can benefit from blockchain technology, seeing lower transaction costs, optimized logistics and increased traceability.

Read more here, via the Fence Post.


Why Precision Agriculture Will Change How Food Is Produced

Roughly 795 million people are left hungry each year, with around one-third of food lost during production. Precision agriculture plans to tackle this problem head-on, with technology like drones, radio frequency and autonomous tractors to play a major role in the agriculture transformation.

Read more here, via Forbes.


Can You Believe This? Agriculture and Energy are Now High-Tech Frontiers

High-tech is transforming the agriculture industry, leading to vast increases in productivity. As our food population only continues to grow, food harvests are also increasing faster than before.

Read more here, via Forbes.

In the Know: Bi-Weekly Agritech Round-Up (April 27, 2018)

The world of agritech is changing every day. Check out our bi-weekly round-up to stay in-the-know on the evolving world that is agriculture technology.

How Blockchain Technology Can Secure Contactless Payments

As the global payment industry continues to grow, blockchain technology could help to counter the issues that come with contactless payments, like having your financial information stolen, as it ensures that all payments are processed through a three-layer encryption protocol.

Read more here, via Nasdaq.


Heartland Tech Weekly: Robotics and Agriculture Tech are Promising Sectors for Young Tech Hubs

Silicon Valley is most known for gaming and digital media, but now sectors like manufacturing, robotics and agtech (e.g., the Farmer’s Business Network) are starting to see an increase. 

Read more here, via VentureBeat.


The Smart Farm Initiative: The Future of Precision Agriculture

In the near future, technologies like highly-advanced drones and tractors will be running farms, helping to increase productivity and transform farm work.

Read more here, via The California Aggie.


The Rise of Agritech: How Green Technology Can Enable More Earth-Friendly Agriculture

Technology advancements have helped to increase productivity, as well as food quality. In this upcoming webinar, viewers will learn about what solutions will help to reduce environmental burdens through green technologies and more.

Read more here, via Science Mag.

Cotton Industry Coopetition

One aspect of The Seam’s initiative to bring blockchain technology to the commodities market that has surprised many people is the collaborative involvement of businesses that compete with one another. Participants in the cotton blockchain initiative include the biggest players in the market: Calcot, Cargill, ECOM Agroindustrial Corporation Ltd., EWR, Inc., Louis Dreyfus Company, Olam International and others.

In the case of blockchain for commodities, this cooperation is easy to explain: The only way these markets can make the transition to a decentralized environment – and make it a true transformation of the industry – is to do it together. Everyone stands to benefit, even though they compete with each other.

There’s a word for cooperation among competitors: coopetition. The principles of coopetition in business arise directly from game theory, which is a scientific approach to making rational, strategic decisions within competitive situations.

In business, there is often a clear benefit to competitors when they form a strategic alliance to accomplish a goal that will be advantageous to all parties. For instance, creating a new market or new industry standards will benefit everyone who is positioned to sell to or within that market.

A recent example is cloud computing, which needed to overcome security concerns in order to build the market it has today and that continues to grow. The major players in the sector worked together to improve technology to the point at which it gained wide acceptance and the competitors could go back to competing.

Similarly, companies in the telecom industry leverage each other to gain access to new markets or to expand services, while software and hardware developers work with their competition to establish systems or standards that all can then build upon.

Forbes has noted that blockchain technology itself has bred vigorous coopetition in a variety of directions. Amazon, Microsoft, IBM, Intel and Cisco are working together on enterprise blockchain technologies, while others are pursuing interoperability among blockchains and cross-organizational transaction and smart contract functionality.

The lesson of coopetition and game theory is that winning in business is not a zero-sum game. The winner can’t take all – and often wouldn’t want to – so there is no reason to compete as if your competitors are mortal enemies. If you doubt the wisdom of that, consider that the United States Postal Service uses FedEx and UPS to carry some of its shipments, and that those two private carriers also use USPS to deliver some of their shipments. You could say that coopetition puts a strategic business spin on an old adage: If you can’t beat ‘em, maybe you should join ‘em, at least some of the time.

Building Critical Mass through Blockchain Technology

The Greater Memphis IT Council held its second quarter thought leadership luncheon today, and our Chairman and CEO Mark Pryor served as a member of the panel. The event was moderated by Ben Amaba, Chief Technology Officer for Blockchain at IBM, and other panelists included Dale Chrystie, VP, Strategic Planning at FedEx Freight; Jim King, CEO & Founder at CoreRights; and Joel Tracy, CIO at IMC Companies.

Check out a few of the takeaways below.

Mark Pryor: Agriculture is a big deal. If you eat and wear clothes, you are affected by it. While it might be a complex industry, it impacts all of us. The industry as a whole is asking for traceability and transparency. There are not a lot of standards in the industry, and that causes slowness. We’re trying to create efficiencies – in addition to traceability and transparency – and blockchain will help us do that.

It’s like the telephone game. The end message is never how it started, and that can be funny. In business, though, it’s not so funny.

Jim King: The focus is centered around the supply chain, and trust is something we’re all working toward.

Mark Pryor: We’re working to provide provable information for business owners to make sound decisions, so they have trust in the transactions they’re making. It’s network-centric trust.

Dale Chrystie: The concept of trust has seemingly been a leap of faith. From this point forward, that trust is verified. There is data. That leads us to smart contracts. It’s no longer a leap of faith. It is objective trust.

Joel Tracy: There should be a public standard. We don’t want a bunch of “private” standards that don’t cross over. There might be slightly different standards for a few private organizations – for example, the Department of Defense – and those will need a high level security.

Mark Pryor: There is similarity between what happened in the early days of the internet. People went to the open, public, decentralized network. There is still a place for both the internet and intranets, but the focus is on connection and collaboration.

Dale Chrystie: There are tremendous benefits with blockchain technology. There is a ton of waste in our processes. We hope the single version of truth will help. It’s all in how we connect things.

Jim King: In order to create awareness and encourage continued education, we need to start with the business and economic model in which businesses operate. Then, we need to determine how this will apply to our business.

How can we create critical mass?

Joel Tracy: New technology is being developed every day, and adoption is happening rapidly. Blockchain will be adopted faster than the internet.

Mark Pryor: Education is so important. We’re all here today to learn more about blockchain; everyone is interested in how this works. Education is critical to generating critical mass. And if we want to ensure broad adoption, that will require everyone working together toward one mission – a concept known as coopetition.

Memphis IT council

In the Know: This Week’s Agritech Round-Up (April 13, 2018)

The world of agritech is changing every day. Check out our weekly round-up to stay in-the-know on the evolving world that is agriculture technology.

Bank of America Envisions Blockchain As Internal Ledger

According to a patent application released this week, Bank of America is looking to adapt blockchain, allowing for the bank to securely record and authenticate personal and business data.

Read more here, via CoinDesk.


Brandon Batten uses Drone to Zero in On Crop Problems and Answers

Tobacco farmer and drone operator Brandon Batten uses drones to develop fertility plans and conduct stand counts for his small grain crops. He’s not the only one in the industry moving in this direction, as farmers begin to adapt drones to calibrate management decisions.

Read more here, via Southeast Farm Press.


Precision Farming: Leaders in the Field

Farmers are going to have to adapt to a wide range of technologies if they want to boost productivity. As several are already using drones and digital GPS markers to monitor crops, farmers are seeing an increase in yields.

Read more here, via the Engineer.


Technology Helping East Africa Unlock Agriculture Potential

In Ethiopia, technology is being used to improve the agriculture sector, by aerial images from satellites, soil sensors and weather forecasts helping to ease the management of crop growth.

Read more here, via East African Business Week.

In the Know: This Week’s Agritech Round-Up (April 6, 2018)

The world of agritech is changing every day. Check out our weekly round-up to stay in-the-know on the evolving world that is agriculture technology.

What is Blockchain and What Can Businesses Benefit from It?

Before blockchain, there wasn’t a way to validate, secure and transfer digital ownership in a way that was trustless. Now businesses that are transaction-based or have decentralization that benefits the end user of the customer, are beginning to adapt this technology.

Read more here, via Forbes.


Arizona Blockchain Bill Signed into State Law

In Arizona, a new bill has passed allowing for corporations to hold and share a distributed ledger, opening the door for emerging technologies throughout the state.

Read more here, via CoinTelegraph.


Technology-driven Transformation in the Farming Sector

Our world faces the challenge of providing enough food for the global population, and as those within the food supply chain begin to embrace new technology, there will be a larger need and opportunity for technology suppliers and innovators.

Read more here, via Information Age.


The Future of Social Impact Is…Blockchain

Among the many things that blockchain can do, it can also improve the social impact sector, by helping homeowners conserve electricity with a smart refrigerator, or generate cash payments to families in Nigeria that will improve graduation rates.

Read more here, via Forbes.