Microsoft files application suite based on blockchain and Artificial Intelligence (AI) in Brazil. These applications will help to improve productivity in agriculture. The technology is going by the name of FarmBeats. It will make use of blockchain, drones. IoT, AI, and big data for efficiency.
This application suite has already been used in the U.S., India, Kenya and New Zealand. It reduced the water consumption rate in the farms to 30%. The creator of FarmBeats, Scientist Ranveer Chandra says that the agricultural sector was lacking the benefits of big data, AI and blockchain.
He further states that this technology is for countries like Brazil and other developing countries. He added that the production should increase by 70% to meet the food requirements in the coming 30 years. Chandra discussed with the Brazilian government for funding the technology to make farming fertilizer and tools. The technology also claims to provide the statistics regarding temperature, moisture, and nutrients present in the soil.
Recently, Brazil has announced to make use of digital blockchain identity platforms in banks. It will integrate into the Brazilian payment System(SPB). Brazil has also set up a regulatory committee to regulate the use of cryptocurrencies in the nation.