Majority of the people in India work hard as farmers. They wont get the amount for their land when it is destroyed due to natural calamities which is not their fault. Our goal is to make an insurance claim for the farmers on their lands and make this project go to a great extent. We need the support to this project. We think that Miami Hacks will help us.
Before the crop cycle starts, farmers pay an insurance payment, and anytime a loss occurs on their farm, they receive a payout from the insurance. Farmers are able to manage their financial exposure to weather extremes, i.e., financial losses brought on by weather extremes, because the insurer is taking on all of the insured risk in this way. Additionally, the insurer can further hedge the systemic element of the risk with a reinsurance business in case of weather hazards that systematically affect all the covered farms.
Solution to Problem Statement:-
The fundamental facts and knowledge about the natural resources that underpin all types of farming constitute the basis of the agri-food systems. It depicts the flow of data and information as well as the flow of products from input to output through several phases of value addition as well as the movement of money from output to input. Utilizing ICT, the internet of things (IoT), and a variety of contemporary data gathering and analysis tools, such as unmanned aerial vehicles (UAV), sensors, and machine learning, is a hallmark of cryptographic agriculture. Traditional methods manage data in a centralised manner and are vulnerable to cyberattacks, faulty data, data distortion, and misuse. It makes sure that all recorded data is unchangeable and that the facts and information are transparent to the participants and interested parties. Unlike previous systems, which rely on the "security of obscurity," blockchain technology produces security through decentralisation.
Use of verbwire in our project:-
Verbwire enables programmers like us to create code in any language and to upload smart contracts to a blockchain. With the support of the company's Platform (verbwire), users can create NFT infrastructure for tasks including data storage, data verification, user operations,deploying,minting.We used verbwire in this project to deploy smart contracts.
What it does:-
Our project demonstrates how different blockchain configurations (permissioned or permissionless), platforms (Ethereum or Hyperledger), and consensus mechanisms (Proof of Work/Proof of Stake and (Practical)Byzantine Fault Tolerance) may be suitable for data collection at various stages in crop agri-food systems.
How we built it:-
We have used react.js for our project and solidity to deploy smart contracts by connecting metamask wallet in which farmers can claim insurance.
Challenges we ran into:-
We were rectifying many errors while going through this project and were calculating every corner cases for our solidity code.
Accomplishments that we are proud of:-
We are happy to say that we have completed our project with more of contents in it. We want to develop the UI/UX of this app.
What we learned:-
We learned tons about web3,dao and defi
What's next for Cryptographic Farming:-
At India majority of the villages have farmers who are hardworkers. We would generate a revenue by claiming insurance from activists(who are ready to fund for destroyed lands) and maintain a statistical data for the same. We would also like to have a tie up with these reputed companies in Miami through these hackathons
Advantages of our solution:
Importantly, collecting reliable data from major farmers rather than smallholders for upload to the blockchain is better motivated. Large farmers are more likely to participate in and gain from blockchain-based cryptographic agriculture. Thus, this may contribute to or exacerbate the gap between large and small farmers. Peer-to-peer transactions can now be conducted transparently and without the involvement of a middleman in the agriculture industry or a bank (for bitcoins, for example). As a result of the technology's elimination of the requirement for a central authority, trust is now granted to cryptography and peer-to-peer architecture rather than an authority. As a result, it aids in rebuilding consumer and producer trust, which can lower the cost of transactions in the agri-food industry. Keywords:-ICT-Information and communication technology,security,proof of work,proof of stake,agri-food,decentralization Team members : Manish R , Mohamed Farhun M , Abishek R
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