HARATechnology
Published in

HARATechnology

How better data leads to better prices

In Bandung, HARA is engaged in a deployment partnership with IJHOP4, a subsidiary program of JICA. JICA had already engaged a number of farmers in the area, but required assistance in helping them apply for the Kredit Usaha Rakyat (KUR) microcredit through BTPN.

Getting the right price

While collecting the data of the locals, our deployment specialists found out that the farmers really struggle with getting a good price for their yield. The price for their goods fluctuates enormously, sometimes even a single hour could see the price drop from reasonable to outright bad.

The farmers expressed an interest in using HARA as a business management tool, to help them gauge the prices people are offering for their produce. Depending on the price, they could then make an informed decision to either sell to the off taker or directly to the market.

You can buy the produce, but the views are priceless

The multi-crop system

The alternative solution that the farmers use now to make up for this lack of data is a multi-crop system. In this system, the farmers plant different types of produce at the same time. That way they at least have something else to fall back on, if the price of one crop turns out to be terrible.

With there being an ever-present market for spicy food in Indonesia, chillies turn out to be one of the common secondary crops that farmers grow.

However, the farmers admitted that there is no real plan going into what crops they plant. Often they just randomly choose something. In this way, the multi-crop solution serves as a sort of home-grown insurance protecting the farmers from bad prices.

HARA could assist the farmers by providing transparent market information. Proving this transparency could help stabilize prices on the market and give the farmer better insight into what they’ll be earning. At the moment, they are simply at the mercy of the whims of the local off takers and have no way knowing they will get a fair price.

Chillies are very popular as a secondary crop

Difference in knowledge

During our visit, our deployment team also spoke with farmers that operate hydroponic farms in greenhouses. In hydroponic farms, plants are grown without the use of soil. Instead, the roots are exposed to an enriched mineral solution.

It turns out that there is a big difference in knowledge between the hydroponic farmers and the regular farmers. The hydroponic farmers know exactly what nutrients are needed to optimize the growth of their plants, and thus their profits. On the other hand, the regular farmers then to mostly just guess.

The data collected on the HARA data-exchange can be used to share knowledge and educate farmers to help improve their bottom lines. For example, by helping farmers to refine their farming practices, they can save money by not unnecessarily overusing farm input materials like fertilizer.

An enriched mineral solution feeds the plants growing in these tubes

A more profitable future

In the deployment partnership, HARA assisted with collecting the data of around 300 farmers to help them apply for the KUR microcredit.

While the hydroponic farmers are already inspiring the other farmers with their results, becoming a hydroponic farmer themselves does require a big investment. This is where microloans like the KUR could help out.

The HARA Token Pre-sale is now open! You can join the sale through the Liquid ICO Market or the Tokenomy Launchpad. For more details, click here.

Join our community on Telegram!

Legal Disclaimer. Contributions/Investment/trading in digital assets have a relatively high risk and may not match all types of investors. The value of digital asset is very highly volatile. This could mean potential huge profits, this also could mean potential huge losses. HARA Tokens are digital assets, so if you are interested in becoming a HARA contributor, you must convince yourself of all aspects of HARA: technology, business models, and other related factors. You should be aware of the risks of failure will still exist. HARA cannot guarantee or be held responsible for any gains or losses from the performance of HARA Token which will fully be determined by market forces

--

--

--

A blockchain project focusing on data exchange to empower billions.

Recommended from Medium

How to Get up-to $30,000 FREE WISE TOKENS, and up-to $3000 in Bonuses! No Sign up!

Top 4 Hottest NFT Games in 2022

[CAMPAIGN] — WonderHero Launches BSC-HECO Cross-Chain Deposit Campaign with $WND Rewards

Artube(ATT)[Quarterly Closing] Project 2022 1Q Closing

How VirtuSwap reimagines DEXes — part I

The “101” NFT journey of a cheap thriller.

CheapThrills101 is an identity, emotion and expression of freedom and liberty.

SWFT Lists Fabwelt and Form Partnership

Facebook’s Libra poses risks, but emerging markets will suffer the most.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
HARA

HARA

HARA is a global & open blockchain-based data exchange enabling everyone to make better data-driven decisions. https://hara.ag/

More from Medium

Google Analytics Customer Revenue Prediction

Google Analytics Customer Revenue Prediction

2021 Health Data Review — Part I: Top Trends in Health Data Demand

WILD.AI User Data Analysis

Top 5 challenges of data analytics

I AM YOUR MOTHER