FarmTech, a forward-thinking Web3 marketplace offering farmers advanced infrastructure through DePIN (Decentralized Physical Infrastructure Networks), has announced its partnership with the Peaq ecosystem. This collaboration signifies a shift towards decentralizing the food supply chain, moving the critical industry away from heavy centralization.

This integration has the potential to revolutionize the agricultural sector by empowering farmers historically left behind in the global supply chain. At Farmsent, farmers can leverage the platform to navigate regulations imposed by centralized entities, ensuring fair compensation for their labor and produce.

The impact of this partnership extends beyond immediate benefits for farmers, with far-reaching consequences. From its humble beginnings to serving over 160,000 farmers, the platform has facilitated numerous food shipments, leading agriculture into the Web3 sphere.

Through Peaq’s platform, the initiative urges the community to actively participate in evolving future agricultural practices and supply chain management. This era is upon us, and we are proud pioneers.

Farmsent’s initiative stems from evident gaps in the current food trade arrangement. For instance, coffee farmers receive only a fraction of the revenue from consumer purchases, with as little as 1% reaching their pockets from a $4 cup of coffee sale. This institutional inefficiency contributes to rising food insecurity worldwide, underscoring the urgent need for reform.

Farmsent’s solution is to establish a Web3 global marketplace directly connecting farmers with retail businesses, eliminating the need for intermediaries. Additionally, implementing DePIN sensors will contribute to tracking product quality and provenance, enhancing transparency and reducing costs throughout the supply chain.

Farmsent has already onboarded numerous farmers from Indonesia and Colombia and is expanding operations to new countries. The platform has facilitated tracing of coffee beans, avocados, and palm sugar shipments between Indonesia, Colombia, the UAE, and the USA.

Following engagement with Peaq, Farmsent will utilize Peaq IDs to manage identities in its ecosystem and equip farm and supply chain devices with these IDs to ensure safe data upload onto the Peaq blockchain. Smart contract deployment on Peaq will support Farmsent’s global food traceability system, introducing a token-based reward system to increase participation in DePIN.

This project illustrates how Web3 may eliminate obstacles undermining international food trade. By giving farmers the means to circumvent centralized authority and supporting food supply visibility, Farmsent champions the fight against global food insecurity, enabling access to high-quality, affordable produce worldwide.

Yog Shursti, co-founder and CEO of Farmsent, and Till Wendler, co-founder of Peaq, emphasize the role of DePIN in agriculture and its effectiveness in producing quality produce to overcome global food shortages at an affordable price. This collaboration drives significant changes in the agricultural landscape, promoting the growth of a fairer and greener food system.