Farmobile LLC, an Independent Farm Data Company, has announced that the Farmobile DataStore exchange is now open for business, connecting data buyers and farmers nationwide.
The release represents the Farmobile team’s commitment to help farmers derive a revenue stream from their farm data by connecting them to buyers through an accessible, interactive process.
It is the first and largest private digital exchange for machine and agronomic data. As of today, the Farmobile DataStore has amassed more than one million acres of Electronic Field Record data (EFRs) in geographically dense regions.
Built on a programmatic platform that leverages blockchain technology, the Farmobile DataStore exchange contains interoperable point-by-point and aggregate farm data that can be used to drive business, marketing and R&D operations. Approved data buyers are able to easily query and make offers for farm data based on their specific needs.
Farmobile and Data the Infinite Commodity
Jason Tatge, CEO of Farmobile said Farmobile is based on the belief that data is one of the most valuable things a farmer harvests – it’s the infinite commodity. That will never change. This milestone proves that the market believes it too.
— Farmobile (@FarmobileLLC) July 18, 2018
Jason said the data buyers are calling them like crazy. From reinsurance companies to technology giants to chemical and seed companies, buyers are hungry for a consistent stream of high-quality, layered, ground-truthed farm data. Farmobile prides itself as the only brand that can provide it.
Since launching its data collection device (PUC) in 2014, Farmobile has collected more point-by-point farm data from more sources than anyone else in the industry. Stored in a standardized geo-tagged format called an Electronic Field Record, or EFR, the Farmobile DataStore may include detailed agronomic data for planting, harvesting, foraging, spraying, and spreading; field data (boundaries, variety, and crop type); and location data.
The Farmobile DataStore leverages elements of blockchain technology fueled by Intel Sawtooth and Amazon Web Services to increase transparency and traceability for both the farmer and data buyer.
Farmobile is also committed to helping farmers capitalize on the value of this market demand. Participating farmers collect raw agronomic and machine data across their entire operation using the Farmobile PUC (passive uplink connection), a small device that plugs into most farm machines. At the end of planting and harvest season, farmers have the option to certify their data and make it available for licensing in the exchange. Their data then becomes a new, recurring revenue source with the option to license data multiple times.
Additionally, the company is unveiling the Farmobile DataServices group, a collection of Farmobile-approved agronomy professionals who will help farmers open up a new revenue stream by making it easy to certify their data.
Once certified, farmers receive offers for their data and can accept or reject them. This gives the farmers a choice over who receives their data.