NEAR NEARCON | 2021, 9 Nov 2021

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From YouTube: NEARVERSE - Day 2 - Emiliano Gutierrez, Vertical Farming in the Blockchain world

Description

Name Company/Role: Emiliano G. / RAIZ / CEO

"Vertical farming can be integrated with Blockchain technology to give it a digital life and democratize the access to its positive impact. We’ll address topics such as rare crops NFTs (PlaNFTs), supply chain traceability (from seed to table) and ecosystem development".

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A

Welcome to the chamber here we can control community temperature and light to provide a perfect growing environment for our plants, hello and welcome.

B

Back to nircon and today's talk yields farming vertical farming in the blockchain world now just to get us into context. You gotta look at at the chamber and one of our test facilities, but long story short to put it in context. Growing vegetables in stacked layers, be it levels or racks, is what vertical farming is, which allows us to maximize the yield per square meter. It's also done in a controlled environment, which means we're able to control temperature humidity and, most importantly, grow all through the year with a lower carbon footprint.

B

Why is that? It is given that we're recycling, for instance, water? We can use um less space and also leave space for regenerative agriculture, as well as reducing the miles or kilometers from farm to table now diving into what blockchain is able to provide to to the rising ecosystem in vertical farming.

B

It's still in its early stages, but we can see a couple of them, starting with supply chain traceability again from seed to table smart contracts. Allow us to track the development of a plan plant from beginning to the end. That means all the way from the day. It's seated to the day it's transplanted to to the growing system and the day is harvested which allows a consumer to have transparency and traceability of where their food is coming from, and that is of interest, of course, both in the retail and in the restaurant area.

B

Another application of of blockchain in the vertical farming space is the evolution of ownership. What we mean by that is, for example, a farm share. Let's imagine you own a token that represents part of a farm part of a hydroponic system. So the way it would work and as mentioned, is still under development- is by owning a token which represents a part of a company or a farm.

B

You grow or or the asset and token holder grows, along with the plants that are being grown in the farm and along with the company itself, and what we're looking at the moment minting a new kind of nft in this example minting mint, which entails the minting of.

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A digital artwork.

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Representing a plant now we came up with this plan ft concept. It's uh planned, nft's, bridging the digital and the physical world. Now we do invite nft, architects, blockchain enthusiasts and anywhere in the developer ecosystem, to join us and to reach out and to envision this new way of bridging those two worlds, but to begin with, let's start with the basic specialty crop. For example, here you see a mix between red and green basil, it's a it's a fusion! So we have this rare crop.

B

Then we have an nft or a digital artwork representing this and not only one plant but, for example, one vessel, the pot in which the plant is grown, which, in its turn, would have sustainability, metrics impact metrics attached to it. What does that mean? That means, for example, which nft along the lifetime value of one system? Let's say, one system is able to produce 500 plants in its in its lifetime value. Just let's play this hypothetical game together.

B

So this 500 plants represent a saving in terms of water, a saving in terms of kilometers of transport in supply chain, a saving in terms eventually of carbon emissions.

B

So you have that link between the the sustainability metrics, the attributes, and they are safely recorded on the metaverse um and as attributes of the nft and each token holder or or investor, can hold that as a commitment to sustainability and, of course, traded as the value and as mentioned uh this would be a a future integration and a potential integration, as the value of the nft can rise, which, in new harvest within every new plant grown on that vessel, corresponding to the nft one could generate yield, or in this case increment.

B

Their impact now yields farming a new way to harvest we'll uh talk about it a bit more later on, but imagine owning an nft or subscribing to a to to a service in which, by owning the nft, you can yield plants right. So it's bridging again the digital nft world with a physical asset. In this case a positive impact acid hydroponically, grown plants.

B

Now distributed farms to to get into into context of how it would look like where would these plants be grown and what we're all about so we're building distributed plants, small strategically positioned energy, efficient uh farms, and what we plan to do is make them blockchain ready from the get-go meaning, for example, as we just saw, we have uh nfts corresponding to each and every part of these uh hydroponic parallels that are growing. We um on board our supplier as the barrels themselves and we're in conversations about them.

B

We onboard our clients, our partners and we facilitate the ecosystem, development and adoption. In this case of near, we have successfully created a dao and we're looking to expand our initiatives with within it and within the ecosystem. So we envision a future where vertical farming is um directly intertwined with the blockchain world, as will many other sectors be, of course, but we're trying to push that angle and encourage other vertical farms to do it as well.

B

Now about decentralization. We see not only our uh vertical farm at raish, but also other vertical farms are interested and we encourage dows to be formed both in vertical farming ecosystem. But, of course, in all the other parts of the supply chain, as mentioned hydroponic providers, growers, seats, etc to join the ecosystem and collaborate.

B

In this example, we have a farm network which is our vision, so distributed farm network, all of them providing data to a cloud brain that allows us to track how the plants are growing, what they need and which stage of of the growing process they are.

B

So it becomes interesting again how the blockchain can um chip in in each part of this process right and that's a challenge which is being addressed not only in this sector but in other how to properly appropriately link each physical part of the process with the digital assets that can be connected with them, both by creating digital pairs, digital twins and other daps and applications.

B

But it's something that's developing and something that will most likely in the midterm be fully integrated. Now,.

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In terms of users.

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As mentioned, we would have clients, clients who actually buy the plans or buy the nfts itself um for offsetting their impact and, of course, uh for the value of the nft itself and its appreciation towards times.

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We have investors as well, both in in the nft or in the future, for example, for the farm share, and we see a potential for different dap development, all the way from tracking, as mentioned from secret table, to minting digital assets from specialty crops or from new avant-garde systems, and to yield farming right, subscribing to a process in which you are yielding by holding or staking you are yielding actual plants, so yield farming in a quite literate manner.

B

Now we're not in this alone, of course, uh we're just stewarding vertical farming, towards a blockchain integration and towards a net zero and carbon neutral ecosystem and, uh of course, world in in in the bigger picture, but we're proud to be on boarded with with nir and, of course, it makes it makes absolutely sense uh with their south pole, integration or accreditation that we are on board with them and and working towards a cleaner future.

B

Now, in terms of of digital assets, as mentioned we're not alone, it's it's uh a growing, a growing ecosystem. We have, for example, carbon tokens by by vx, which is uh already working with traditional farmer, regenerative practices and safe practices for the environment.

B

In terms of current capture, we have uh cello or zillow um working with the rainforest products as well in terms of of carbon capture and carbon digitalization and, of course, a near one uh fellow speaker open forest protocol, they're working as well doing fantastic work in in carbon capture and asset digitalization, and we are very hopeful to see other vertical farming assets and applications coming along. um As mentioned, we are looking to onboard as many technical and practical people to further develop these vertical farming applications.

B

We couldn't be more excited to see what unveils in in the future and what we can do together for a more sustainable future and to change the way we connect with food with each other with the environment. Thank you very much.