TL | DR:
- The Philippines, with its lengthy agriculture history, relies heavily on the industry for its economy; however, it encounters various obstacles such as limited market access and capital, alongside high production expenses and climate change.
- Davao DeFi Community and together with LandX hosted an event to investigate how blockchain technology can benefit farming. The event aimed to boost transparency and safety of transactions, while also enhancing how farmers access capital. The gathering involved speeches on DeFi, blockchain fundamentals, and the LandX protocol.
- Blockchain technology in agriculture was the topic of discussion at an event that united local farmers, communities, and experts. This 8-hour forum provided a platform for individuals to express their opinions, ask questions, and come up with recommendations. Surprisingly, the City Mayor of Davao was one of the supporters of this initiative.
This groundbreaking event brought together an eclectic group of participants, including farmers, rice cooperative members, local blockchain enthusiasts, and community members. During the forum, participants engaged in open discussions, sharing their opinions, thoughts, and suggestions, collectively seeking solutions to the pressing issues in the agricultural sector.
Agriculture is still the lifeblood of the Philippine economy, deeply rooted in its history and essential for its progress. However, this critical sector faces an array of challenges, including climate change, land conversion of these farmlands to commercial areas, high production costs from land preparation to post-harvest, pests and diseases management, and limited access to capital. The emergence of financial technology, especially in blockchain, offers a promising solution to these challenges.
On December 13, 2022, an event of immense significance took place in the Philippines. LandX, in collaboration with local partners such as Davao DeFi Community, NFT Davao, and Blockchain Network Philippines, sponsored the “Philippine Farmers Forum: Innovating Farmlands Through Blockchain.” This event revolved around the struggles of rice farmers, who confront issues like low incomes, rising costs, and limited market access. It explored how blockchain technology could be the key to addressing these challenges by providing transparency and secure transactions while enhancing farmers’ access to capital.
The event was graced by prominent figures who played pivotal roles in shedding light on the potential of blockchain technology in revolutionizing Philippine agriculture. Rod Albores of Davao DeFi Community and Nikki Shannen Ortega, CMO of Blockchain Network Philippines, hosted and opened the event, setting the stage for a day of insightful discussions.
Mr. Richard Año III, the founder of an organization dedicated to assisting farmers, presented a session on the current state of the Philippine rice industry and the efforts to provide support to struggling farmers. This underscored the critical need for support and innovation in the sector.
Blockchain technology, a key focus of the event, was elucidated by Ferdie James Nervida, the founder of the Blockchain Practitioners Association of the Philippines. He explained the fundamentals of blockchain, cryptocurrency, and NFTs (Non-Fungible Tokens), providing the audience with a foundation for understanding the transformative potential of this technology in agriculture.
Arthur Agullana, co-founder of Davao DeFi Community, drew comparisons between Traditional Finance and Decentralized Finance (DeFi), demonstrating how DeFi can empower farmers by providing them with more accessible and equitable financial solutions.
One of the highlights of the event was the presentation by Ruben Lacumba, LandX’s Lead Moderator. He shared insights into the LandX protocol and discussed how it could revolutionize agriculture using blockchain technology. Lacumba outlined the three core participants in the LandX ecosystem: farmers, validators, and investors. Through a video patch, the co-founder of LandX expressed his gratitude for the opportunity to introduce this technology to small farmers and help them navigate the challenges they face.
Mr. Oftociano Manalo, the national president of Pambansang Mannalon, Mag-uuma, Magbabaul, Magsasaka ng Pilipinas (P4MP), delivered a compelling message about the vital role of farmers in the Philippine economy and food security. He emphasized the importance of supporting initiatives like blockchain technology to enhance the prospects of the agricultural sector.
Furthermore, the support of the City Mayor of Davao added a layer of significance to the event, signaling that blockchain technology in agriculture had the backing of local government authorities.
In conclusion, the “Philippine Farmers Forum: Innovating Farmlands Through Blockchain” was a momentous occasion that brought together stakeholders from various sectors to address the pressing issues confronting Philippine agriculture. The event showcased the potential of blockchain technology in providing transparency, security, and access to capital for farmers. With the support of organizations like LandX, and passionate individuals, the future of Philippine agriculture is poised for transformation and resilience in the face of challenges. The event was a testament to the power of collaboration and innovation in revitalizing one of the country’s oldest and most vital industries. As we move forward, it is essential to continue exploring and implementing technologies like blockchain to ensure the prosperity and sustainability of Philippine agriculture for generations to come.
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