An Effective Yield Estimation System Based on Blockchain Technology

Abstract

Price fluctuation in agricultural products that adversely affects the actors of the market is a serious issue influenced by many factors. Uncertainty in yield estimation of the products can be counted as one of the major factors. It is a fact that an effective yield estimation method may help decision-making actors to develop effective and stable production and price policies. There are traditional and remote sensing methods aimed at calculating the correct yield estimate. However, these methods produce outputs only after the sowing season of the products. In this case, decision makers do not have enough instruments in hand to ensure price stability. Generally, the existing yield estimation systems are designed in a centralized setting. However, effective tracking may not be possible due to problems in the data flow. In this article, we will propose a blockchain-based solution that carries out yield estimation of agricultural products. Our solution brings all participants interested in agriculture together and produces an early yield estimation. Thus, the necessary precautions for the excessive imbalances that may arise in agricultural products will be planned in advance.