Farmers face new challenges every day, from increasing global demands to meeting new strict emission requirements. Farmers also face recurring problems such as floods, droughts, pest problem, weed control and many others beyond their control. Despite the inevitable, these problems can be contained and damage can be reduced through the use of technology. However, many of these technologies are inaccessible for many struggling small farms. A few reasons that lead up to the inaccessibility are poor linkages with technology, traditional mindsets and required investments to replace equipment.
Low profit
Putting into perspective, twenty-five million small farmers produce 80% of the world’s coffee but on average, make less than US$2 a day — below the international poverty line. These farmers not only do not usually receive payment upfront, payments are delayed and they are paid based on quantity and not the quality of yield.
Poor linkages with technology
Agricultural technology has evolved into a knowledge-based art now, often requiring a level of expertise in order to be fully efficient and effective. However, there is a knowledge gap between the market of agricultural technology and farmers. More often than not, small farms are managed by older generations who are stuck with conventional ways and input of technology is meagre. Only a small number of affluent farmers can adapt to emerging technologies quickly and benefit from it.
High upfront fees
High upfront payments are another barrier farmers face when trying to adopt new technologies. Even without adopting new technologies, farmers already face an uphill battle to replace old equipment or maintain their farm. It is estimated an average of $300 to $400 is spent on equipment for every acre of land, not yet accounting for equipment depreciation, repair costs or replacements. In such circumstances, it is hard for them to adopt new equipment and technologies even if they benefit them in the long term, simply because they cannot afford it.
Improving a farmer’s life with ALT-TOP
The first step to improving these farmer’s lives is to introduce technologies that can improve their working processes and receive the payments in proportion to the work they have done. ALT-TOP will be able to solve multiple problems they face such as unfair rates toward small farmers, payment delays and inefficient supply chain systems.
ALT-TOP is a permissionless and transparent platform that allows end-consumers and stakeholders the ability to incentivise, penalise and download the lifecycle-supply chain of their food via an auditable food trail. While in the process, rewarding farmers with their rightful value in the chain. Some examples of what ALT-TOP will do are:
- Direct payments to the farmer via platform or payment network
- Immediate settlement payment in ALT-TOP tokens, with additional liquidity via round-the-clock crypto trading
- Removing traditional middlemen, thus reducing additional fees
- Incentivising the source or supplier based on token tipping by end-consumers
- Machines, IoT or stakeholder audits to make payments based on the quality of yield (e.g for durians, crop yield could be measured based on quality at source)
- Encouraging high-quality yield and less food fraud
In this context, ALT-TOP’s mission and vision is to provide a solution that will better equip these farmers, add value to their business and receiving their rightful share of the revenue.
Support agriculture, an essential part of sustenance in life, by being a part of ALT-TOP through our token sale. Participate through our website and like our Facebook page (ALT-TOP) to receive the latest updates or join our Telegram group (ALT-TOP) to check out what we’re all about!
