The United States Environmental Protection Agency (EPA) estimates that 10% of CO2 is emitted by the Agri sector. On one hand, Agri companies have sustainable products and services to offer to the growers. On the other hand, without proper economic incentives, farmers are reluctant to adopt sustainable practices. Centralized platform business models have so far not succeeded in creating economic value for the farmers, even while the demand for a voluntary carbon market is increasing. What technologies and business models can enable financially incentivizing farmers for implementing climate-smart practices? What are the ways the buyer has proof of authenticity? In what ways the participants including investors can derive economic value?
ArgoChain is an NFT application Based on the Ethereum Blockchain written in Solidity Smart Contract, and using the power of React Frontend, and ether.js to interact with the Smart Contract present in the Ethereum Blockchain, a user can register as a Framer in the application, with all relevant information, Upload & Mint (In IPFs), buy and Sell NFT, in the ArgoChain NFT marketplace. The Industries then can buy those NFTs from market place granting them carbon credits and also investing money in farmers so that they can adopt more sustainable farming practices.
It provides a way for farmers to sell carbon credits in the form of NFT to industrial buyers who needs to buy carbon credits in order to achieve sustainability goals, thus giving farmers money to invest in more sustainable farming practices, and a win-win situation for all, the Air Quality verification is done using IoT devices, thus acting as a verification mechanism to ensure, that money is invested by farmers to adopt more sustainable farming methods.
- Farmer Registration.
- Mint NFT for Cabon Credits using Verification from IoT Data to prove sustainable farming practice is adopted.
- IoT Device data is Directly streamed to NFT for verification using Device ID and Azure IoT Hub.
- User Dashboard to view all the NFT Minted, sold, and Purchased.
- Customer/ Industries can buy NFT carbon credits to meet their ESG Goals, and remain Carbon neutral companies.
- Money in form of Cryptocurrency is directly transferred to farmers without commission and middlemen, so they can invest the money in adopting more sustainable farming methods.
For video demostration refer to the YouTube link here.
git clone https://github.com/IntelegixLabs/AgroChain
cd AgroChain/Rapyd.All
dotnet clean
dotnet build Agrochain.All.sln
cd Rapyd.API
dotnet watch run --Rapyd.API
cd AgroChain/agrochain
c:\windows\system32\cmd.exe /k "C:\Users\raj71\Downloads\node-v16.20.0-win-x86\nodevars.bat"
npm install
npx hardhat node
- Copy private key of the addresses and import to Metamask
- Connect your metamask to hardhat blockchain, network 127.0.0.1:8545.
- If you have not added hardhat to the list of networks on your metamask, open up a browser, click the fox icon, then click the top center dropdown button that lists all the available networks then click add networks. A form should pop up. For the "Network Name" field enter "Hardhat". For the "New RPC URL" field enter "http://127.0.0.1:8545". For the chain ID enter "31337". Then click save.
npx hardhat run src/backend/scripts/deploy.js --network localhost
npx hardhat run src/backend/scripts/deploy.js --network goerli
npx hardhat test
npm run start
