Company News Release -- July 17, 2018 --
Farmobile LLC, The Independent Farm Data Company, today announced that the Farmobile DataStore exchange is now open for business, connecting data buyers and farmers nationwide. It is the first and largest private digital exchange for machine and agronomic data. As of today, the Farmobile DataStore has amassed more than one million acres of Electronic Field Record data (EFRs) in geographically dense regions.
The release represents the Farmobile® team’s commitment to help farmers derive a revenue stream from their farm data by connecting them to buyers through an accessible, interactive process. Built on a programmatic platform that leverages blockchain technology, the Farmobile DataStore exchange contains interoperable point-by-point and aggregate farm data that can be used to drive business, marketing and R&D operations. Approved data buyers are able to easily query and make offers for farm data based on their specific needs.
“We started Farmobile based on the belief that data is one of the most valuable things a farmer harvests – it’s the infinite commodity. That will never change. This milestone proves that the market believes it too,” said Jason Tatge, CEO of Farmobile. “We have data buyers calling us like crazy. From reinsurance companies to technology giants to chemical and seed companies, buyers are hungry for a consistent stream of high-quality, layered, ground-truthed farm data. We’re the only ones who can provide it.”
Since launching its data collection device (PUC) in 2014, Farmobile has collected more point-by-point farm data from more sources than anyone else in the industry. Stored in a standardized geo-tagged format called an Electronic Field Record, or EFR, the Farmobile DataStore may include detailed agronomic data for planting, harvesting, foraging, spraying, and spreading; field data (boundaries, variety, and crop type); and location data.
The Farmobile DataStore leverages elements of blockchain technology fueled by Intel® Sawtooth and Amazon Web Services® to increase transparency and traceability for both the farmer and data buyer.
Farmobile is also committed to helping farmers capitalize on the value of this market demand. Participating farmers collect raw agronomic and machine data across their entire operation using the Farmobile PUC (passive uplink connection), a small device that plugs into most farm machines. At the end of planting and harvest season, farmers have the option to certify their data and make it available for licensing in the exchange. Their data then becomes a new, recurring revenue source with the option to license data multiple times.
Additionally, the company is unveiling the Farmobile DataServices group, a data quality, data processing, and data management team that will give customers a new avenue for certifying Electronic Field Records (EFRs) and supports customer agronomists with data processing services to scale their local businesses.
“The challenge we found over the last year has less to do with collecting the data or creating a demand, but in creating a system that is properly incentivized and easy to use,” said Jason Tatge, CEO of Farmobile LLC. “We don’t think farmers have to become engineers or data scientists to extract value from their digital assets. That’s why we launched Farmobile DataServices to make the entire process frictionless and accessible.”
Once certified, farmers receive offers for their data and can accept or reject them. This gives the farmers a choice over who receives their data.
“Buyers love the model because now they have access to high quality data,” said Matt Kamphoefner, Vice President of Product of Farmobile LLC. “Farmers love it because they are receiving a direct ROI for quality collection of data. It’s a win-win.”
To learn more or to securely license certified field and agronomic data via the Farmobile DataStore, please visit: https://www.farmobile.com/data-store/.