The $6 trillion USD bail-out package of March 2020 as well as the Covid-19 lock downs themselves presented our community with the risk of hyperinflation and continued global, national and regional supply chain disruptions. Specific to food (that we found to be the most important supply chain during the economic collapse!), the positive outcome from the lock downs was the ascendance of local food producers in our community. What was tragically revealed by Covid-19 was the urgent importance of developing sustainable, local food supply chains that connected farmers directly with local consumers and other stakeholders with physical as well as digital infrastructure. There were reports of people visiting our farms unannounced, for lack of a direct digital connection, to buy food because store shelves emptied out. There were wide gaps in our local food supply chains largely because of the past preference for larger more well developed, just-in-time supply chains based on the globalization at-all-costs business model.
The Covid-19 lockdowns unleashed our creative potential to create local supply chains to meet the increased demand for more locally produced food in our diets. Beginning, local farmers continued to emerge but even more rapidly and large scale cash crop farmers, negatively impacted by the forgotten but ongoing trade war, gradually transitioned to food production to serve markets closer to home. The build out of our community food supply chain physical infrastructure was fully integrated with the digital technologies on which our future was built. We aggressively deployed agriculture blockchain solutions throughout every stage of the supply chain.
The benefits of efficiency, auditability, transparency, traceability and security allowed us to evolve into the more equitable food system that we have today
for community farms and farmers based on their valued role in our food system, their potential for carbon capture to mitigate climate change as well as our food security.
Our brainstorming and ideation about creating emergency food supply chains in response to Covid-19 was driven entirely online. It was only natural this behavior pattern morphed into more uptake of digital solutions for farmers and food hubs given local demand for food resiliency and need for online marketplaces.
The doorway through which these web 2.0 internet solutions migrated to web 3.0 blockchain and precision solutions was the inclusion of electronic gift certificates
alongside the usual credit card and PayPal options. As our local, food supply chains continued to mature there was demand for transitioning the gift certificates into a fully developed electronic local currency. Since crypto eliminates the problem of double spend, because transactions are irreversible and impossible to tamper with, our community came together and quickly understood the wisdom of designing utility token solutions for our electronic local currencies. Our community also understood the wisdom of ensuring are local currencies were interoperable with each other.
We understood the urgency of the inevitable hyperinflationary shocks of funny money and immediately sought to protect ourselves.
We barely survived the first rolling wave of modest hyperinflation by the middle of 2021 because only 25% of our food system had transitioned to the new utility tokens and other blockchain rails by that time. With renewed sense of resolve we transitioned 100% of our food systems by 2026 whilst weathering increasingly volatile hyperinflationary waves. The mystery about if $6 trillion USD of central bank intervention is okay, wouldn’t $350 trillion USD be better was resolved by 2028? That was when the cumulative excesses of funny money monetary policy finally exploded into a fatal blow for community food systems that were unprepared in 2028. For us our local currency(ies) shielded us from the rapid decline of the USD and our blockchain-enabled local food supply chains continued to thrive because they served the needs of the community.
Our community came closer around the importance of trusting and relying on those in closer proximity for our food.
As more of our trade moved online farmers saw increased sales and profitability. This success led to their demand for closed loop digital local currency(ies) that exclusively served the transactional needs of our supply chains. Modeled after the The Baltimore Note (BNote), and other paper based local currencies worldwide, the digital local currency channels matured and enabled the emergence of other digital channels for agriculture extension, supply chain management and precision (internet of things) agriculture. We fully embraced the power and potential of 5G to provide farmers with better decision making tools. But with a twist. Unlike the centralized 5G deployment approach of the Big Four (Verizon, T-Mobile, Sprint and Comcast)that has limited potential for scale in rural areas because of the requisite for nodes located every 100 meters, ours is based on decentralized ledger technology by way of privately owned nodes with ranges of up to 10 miles.
This allowed our farmers to collect data from many thousands of extremely inexpensive sensors about soil moisture, chemical composition and other agronomic data for minuscule data transmission costs.
Because the minuscule costs are digital they were incremented appropriately and paid for with our crypto-backed local currency. Our food community also embraced the use of sensor data from multispectral imaging to give our farmers advance knowledge about the health and stress levels of their crop. Non-visible red, green, near-edge red and infrared electromagnetic waves generate data when light reflects off every crop field image pixel. Drone mounted multispectral imaging platforms mapped all of our farms within five years because an industry of drone agriculture service providers rapidly emerged to help farmers with better decision making tools.
These and our other blockchain enabled supply chain management and agriculture extension digital channels, as well as our digital payments, marketing and precision agriculture channels found the fertile soil of an enabling environment at the policy level. Our community sponsored hack-a-thons for developers to convene and create applications for digital agriculture solutions. Our business incubator expanded its cohort of business startups to include digital agriculture business models. To ensure a continued source of human capital for the build out of our new agriculture future we integrated awareness of and education about the features and benefits of digital agriculture throughout our education system, civil society and private sector as well as our local food supply chains. Our embrace of this crypto, blockchain and precision agriculture 2020–2030 vision made our community resilient in terms of our food and mitigated any risk of using the USD for our transactional activity.
Author note: This vision does not prognosticate any specific timeline for hyper inflationary waves. Rather in the face of inevitable hyperinflation (due to funny money printing) and supply chain disruptions web 3.0 technologies promote a resilient food system by leveraging viable, field tested blockchain, crypto and precision technologies that currently exist and are adding value today across most other sectors of the economy.
A 10 Year Vision for Community Crypto, Blockchain and Precision Food Systems after Covid-19 was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.