Dubai, United Arab Emirates–(Newsfile Corp. – July 5, 2022) – Plugin (PLI) and Samunnati teamed together to provide crop insurance radar coverage to small farmers. The collaboration is planned to provide the agricultural industry with a wide range of contemporary, technologically-focused services.
Plugin & Samunnati
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Farming and the supply chain, in particular, are affected by the lack of accurate weather projections for success in the numerous daily choices they must make. New technologies enabled by blockchain may help alter the outcome, liberating agricultural income, creating employment, and bringing prosperity to the countryside.
Plugin-Samunnati Partnership: Weather Intelligence and Crop Insurance
As part of its Weather Forecast Node (WFN) initiative, Plugin and Samunnati’s collaboration aims to harness the synergies in weather intelligence. The duo will implement the Plugin WFN project throughout the smallholder farmer landscape. The XDC ecosystem’s data lake, which will house Plugin’s weather intelligence, will benefit from the inclusion of aggregated weather data.
Since registered weather stations and hyperlocal sensors are scattered worldwide, Plugin’s WFN uses the data. Plugin’s data lake receives data from these nodes near-real-time and processes it. It is also possible to considerably expand the data lakes by deploying additional hyperlocal sensors worldwide.
It’s also possible to search for weather data by nation, state, or city to get the most precise information possible from PLI’s weather data collection.
PLI performs regular inspections of the licensed weather station to ensure that the recorded weather data is accurate. Plugin WFN pays its data suppliers for delivering up-to-date and valuable weather data.
Crop insurance companies may check whether certain weather conditions were encountered and caused specific difficulties using the near real-time data. Crop insurers may handle payments for farmers impacted by the data, ensuring that farming operations will not be disrupted. Crop insurance, aided by WFN, may also encompass agricultural logistics, commodities market hedging, aviation, and government policy formation.
Additionally, the collaboration looks into the availability of crop insurance for smallholder farmers and how to deal with these issues in the event of unforeseeable and weather-related disasters.
Furthermore, Plugin and Samunnati have signed a Memorandum of Understanding (MoU) that will see Samunnati join Plugin’s decentralized oracle network as a Master Node Operator. When business enablement conversations are completed, community members will be given instructions in the coming weeks.
A decentralised Oracle platform called Plugin (PLI) offers affordable solutions for any smart contract that utilises the XinFin XDC Network Eco System. The plugin allows the smart contract to interface with the real-time environment and ensures the data it gets from the data feed provider is reliable.
Name: Kapil Khurana
Samunnati is a supplier of Agri value chain solutions that promote expansion throughout the value chain of the agricultural ecosphere. Samunnati drives the value chain to higher altitudes and better yield by empowering farmers and enlarging Agri Enterprises.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Funds Spectrum journalist was involved in the writing and production of this article.