Since agriculture is one of the chief occupations in Indonesia, reliable data and transactions are imperative for improving people’s quality of life. This resulted in the creation of HARA, a blockchain powered data exchange platform for accurate and efficient data. HARA links farmers, finance institutions, retailers, and data service providers, and give access to details like land ownership, grain price, soil quality, and more. HARA is thus helping build an efficient ecosystem.
Hara and the Data Game
HARA basically aims to improve the overall livelihood of farmers of Indonesia by offering them data-driven farming technics. Since its inception, the company has assisted farmers to obtain loans and development funds from financial institutions by using the data.
HARA’s Unique Model
HARA’s business model is a unique one that helps farmers to get access to loan, helps financial groups to understand their agricultural clients, as well as assists retailers to sell more goods and services to the farmers. Thus, it is beneficial to all groups connected.
Initially, HARA established a joint venture with a corporate farming operation that had some basic semblance of data like a record of land rights, a record of who farmed what etc. Then, the company decided to venture into a grass-roots level.
In order to do that, a digital identity of small farmers was established, hashed on a blockchain and based on the existing paper ID documents of the farmers. After that, field agents were sent who collected data like the types and yields of the farmer’s crops, the size of the land, the market prices of products etc.
In exchange for the data provided, farmers were given stamps. Once a certain number of stamps were reached, farmers could redeem these stamps for things like fertilizer and seeds. This, in turn, incentivized others to participate, helping in constantly building up a repository of valuable data.
This whole process also created another hidden benefit. Since the ownership of lands was established for farmers using their digital ID, banks and institutional micro-lenders started to offer loans to these smaller farmers, improving their lifestyle.
The Expanding HARA
With nearly 12,090 farmers from 214 villages already included in the HARA ecosystem, it seems primed to soar higher. And indeed seems a win-win situation for all players including data providers (farmers), data buyers (like fertilizer companies), and value-added service providers!