We are excited to share the details of our newly formed partnership with HARA. This doesn’t only mark a huge milestone for both BOI Research and HARA, but also illustrates the huge potential and need for reliable data from the food and agriculture sector.
HARA is blockchain-based decentralized agricultural data exchange. It aims to enable near-time data for smallholder farmers and agriculture stakeholders, which would help them to make better farming and economic decisions. HARA’s mission is to create a thriving agriculture economy with data as agriculture’s new commodity. Using blockchain with smart contracts, HARA’s transparent and traceable data exchange ensures every player is incentivized to provide reliable data. This allows every agriculture player to benefit, including smallholder farmers.
BOI Research will enrich the data derived from the HARA platform. Starting with data from the food and agriculture sector, BOI Research will analyse the raw and unstructured data from the HARA platform and turn it into valuable research reports. For instance, the research could show the potential of the market for agriculture input suppliers in a specific area. The reports will also be directly uploaded to the HARA data exchange and available for purchase by all data buyers.
BOI expects that the reports to help its clients to make the right decisions. The data would be useful not only for government, but also for other stakeholders, like NGO and companies in the private sector with interest in the agriculture sector. While now agriculture data is available, HARA and BOI aim to improve the quality of the data available, not only its accuracy, but also ability to be accessibility and affordability.
The research reports that BOI will create based on the HARA data will be a valuable asset to the data exchange ecosystem. BOI envisions three different types of research reports that they will contribute to the HARA data exchange. Apart from creating reports based on HARA data alone, BOI also plans to combine the HARA data with data from secondary sources, like the government and NGOs. Finally, a third type of report will combine the data from HARA with BOI’s own fieldwork.
BOI’s cooperation with HARA would allow the data to be very affordable. Not only is HARA expected to lower the cost to acquire the data that can be the basis of creative solutions that will help improve the lives of millions of smallholder farmers, it is also set to directly affect the smallholder farmers that participate in its data exchange ecosystem by rewarding them for all the data they enter.