Environmental goods and services don’t leave the farm
Farmers normally produce food and fibre that leaves the farm for market. You grow a tonne of wheat, you sell a tonne or wheat, you ship a tonne of wheat and you get paid for a tonne of wheat.
Environmental Goods and Services are different. In these markets, the trees and soil carbon, koalas and vegetation has to stay on the farm. This distinction isn’t just academic.
Buyers in Environmental Goods and Services are not receiving actual goods and services like food and fibre. They are in fact buying and receiving data that represents things like carbon levels, biodiversity, species types etc
Data representing carbon or biodiversity. Not an actual tree or koala or grassland.
Naturally, then buyers want to be sure of the accuracy, credibility and fidelity of the data. As such they have standard processes around pretty much everything. These processes are rigorous and come up to ISO quality standard. Everything in environmental markets comes down to data.
So what is the problem?
Farmer data has always been used against farmers.
- There was a time when farmers put their data together for banks – and then commodity traders at the banks would trade against those farmers.
- There was a time when farmers put their data together for improving practices – and then a change of government demanded to acquire that data in order to prosecute farmers.
- AgTech startups all have the same playbook. Buy customers –> harvest data –> wait –> get acquired. What will happen to farmers when AgTech sells on farmer data?
Farmers are rightfully dubious about sharing their data.
At the same time the requirements for Environmental Markets are that farmers do a lot of “MVR”, which stands for Measurement, Verification and Reporting. No “MVR”, no sales of environmental goods and services.
The “Digital Twin” solution to Farmer Data.
Before we discuss the Digital Twin, we need to talk about Governance. Regen Digital is majority-owned and controlled by farmers via the Regen Farmers Mutual. The Regen Farmers Mutual is democratically controlled by farmer-members and is a company limited by guarantee. It exists only as long as it continues to serve its members. It has no requirement for a return on capital (as it has none, it is a company limited by guarantee) and seeks to maximise benefit to farmers. Having the majority ownership of Regen Digital controlled by Regen Farmers Mutual matters because…Farmers ALWAYS, forever and until the end of days will control their data mutually and have equal stake in the governance of the business that holds their data and gives them access to environmental markets and associated payments.
Creating a Digital Twin
The Digital Twin is created when a farmer buys an Environmental Farm Assessment from Regen Digital. The initial digital twin reflects the data of the actual farm and the accuracy of that reflection can improve over time.
The farmer can then give permission any person, any business, any API, any software, any device to the “digital twin” without the ability of that business, API or other person being able to extract the underlying data.
The “digital twin” enables the farmer to 1) control their data, 2) share their data as they see fit and 3) use their Digital Twin in new ways.
What Can A Digital Twin Do?
A Digital Twin can be used to model different scenarios and become an invaluable planning tool.
A Digital Twin can be a dashboard where you control data and access to various farm tools, devices and web services.
A Digital Twin can be populated like you would a website for consumers and supply chains so they can see the data story you share with them in detail.
A Digital Twin can allow your buyers, supply chains and business partners to understand the exact provenance of food, fibre and environmental goods coming from a farm.
A Digital Twin can enter into blockchain agreements.
A Digital Twin can become an NFT and do all sorts of new digital things
Does Your Farm Need A Digital Twin?
Regen Digital and the Digital Twin is the way farmers can stop having their farm data used against them. Instead they can be in control of their data and profit from the good work they do for the environment (which is reflected in the digital twin).
The safest and best way for a farmer to engage with Environmental Markets is by getting a Digital Twin of their farm. This means creating one via an Environmental Farm Assessment, which means joining the waitlist.
Always consider the general CSF risk warning and offer document before investing