As the population increases a growing problem in agriculture is opening financial markets to small and medium underserved farmers to meet a 70% increase in demand by 2050 [IFC]. Agryo aims to better connect these two groups by providing accurate information from farmers to lenders that’s easy to understand and easier to buy stake in.

Agryo believes it can create a competitive advantage and provide a better experience to all parties by increasing the trust of its underlying agricultural data. Agryo collects over 520 historical, real-time, and farmer-generated data points spanning the plot's environmental, agronomic, and financial history. This data is analyzed to provide lenders with a credit and risk score for each crop field. These scores inform lenders of the overall risk for crop yield and therefore the likelihood for a strong return on their investment.

Decentralized data

With a desire for greater trust between multiple parties, Agryo looked towards decentralized, public networks. Agryo selected Hedera Hashgraph with its strong governance model and high-throughput, low-cost transactions to manage their listings as a tokenized asset and provide an auditable log of each plot’s predicted and recorded outputs.

To facilitate loans and inform the buying process Agryo makes use of two Hedera network services: Smart Contract and Consensus Service. Loans are managed by the use of Solidity smart contracts; a farmer selects their plot of land that they’re requesting a loan for, this creates a contract with the details of the plot and its availability. Each plot of land requesting a loan then receives an algorithmically generated risk score. This score is logged via Hedera Consensus Service for accountability, ensuring it is not tampered with. Lenders are then able to pre-define the terms of contract generation, updating the smart contract to provide a verifiable record.

Agryo monitors each contracted crop daily. Every 20 days, an updated report on the crop's status is again logged to Hedera Consensus Service. This helps each participating party better account of how the crop, and therefore loan, has performed in comparison to the risk score's prediction.

Trusted algorithms

Going forward, by logging their predictive risk score to Hedera their customers can have increased trust in the terms they receive. Agryo believes that by providing data transparently to the parties involved they can increase the volume and deal size for farmers globally. Helping millions of families to thrive from their business, build opportunities across the globe over a more sustainable financial system and helping to feed the entire world.