Food Security enabled by Geora

Bridie Ohlsson shares how the free and open source software solution, Geora, provides agriculture supply chain participants with the lowest-cost digital infrastructure.

Transcript

spk_0:   0:05
when markets are crashing, agriculture is still working to fly. Chains of still functioning blows my mind that people don't see that in the best possible investment food will continue to donated. Hi, my name is Kirsten Joe It I'm a proof of location specialist and I'm your host for Lay of the Land Today is March 28 2020. And my guess is Bridey Olsen from Tura. Good morning, Brady. Morning. How are you? I'm very well. How are you today?

spk_1:   0:35
Yeah, really good. Happy to be connected with you in this time of pure Internet connections.

spk_0:   0:42
Yes, that's true. It's a really interesting time. And it's lovely to be able to make a connection and even a work connection during this time where it's difficult to get our heads around work. So today we're here to discuss Jorah and its link with proof of location. Can you tell us a little bit about what Jor is? And maybe you could do that in a way, for our listeners. That doesn't talk specifically about Blockchain. So you know that game where you explain something without using a critical word? Yeah,

spk_1:   1:15
Yeah. We can be very happy to play that game always. Okay, super. Um Okay. So really, really, simply, Jorah is a software solution. So we build out digital infrastructure to support agricultural supply chains. So it's very much in, like, the supply chain space we look. Att. Daughter transfers, payments, finance. Now they could build out software thio support those transactions.

spk_0:   1:43
Fantastic. And can you tell us a little bit about how juror came about?

spk_1:   1:49
Yeah, of course. Um so juror was initially a pilot work strain within the Australian startup. Angry Digital. I joined that digital about four years ago, was in 2016 on dhe. Blockchain of the time was a was a very new and exciting technology for technologists to be playing around with. I hadn't even quite hit the main stage on media headlines by that point. Um, so we were We were interested in what that technology could offer to agricultural supply chains, but more than that, we'd identified Ah, a couple of really big challenges that we were trying to address for agri supply chain. Participants on those generally revolved around farmers receiving payments, security buyers having access to real time finance, and then financiers having the data that they need in order to provide that finance really seamlessly. So is the problem space. And then we were kind of experimenting with what these new technologies might offer for that problem space. Really small team I in 2016. But we were really fortunate to come in early and runs him, um, some really exciting new world first pilots using this technology. So we worked with C B H Group in Australia and are we worked with Rabobank, Um, and Fletcher's in Special Export. I think free take up agricultural businesses globally. Really? Um, and and certainly in Australia and off the back of that pilot program, we actually developed the beginnings of a product that would later become Jorah on DDE that product. At some point we realized that it that it needed to separate from the rest of the Akra digital product suite Ondas a few reasons behind that. But the main one was making it into more of an infrastructure piece that multiple companies and applications could build on top of. And that's why we then founded out Jorah Azaz, a piece of technology that really is lowest cost digital infrastructure for agriculture.

spk_0:   4:01
It's a purely software play correct,

spk_1:   4:04
Totally software. So, you know, we're pretty fortunate that our business kind of kicks along at a time like this, Uh, in terms of providing the platform because everything's everything's purely online. We don't do anything in the hardware space.

spk_0:   4:17
Can you talk a little bit about the importance of a software solution for a decentralized supply chain in this cove in 19 era? And how Jura fits into that?

spk_1:   4:30
Yeah, so I think one of the, um, one of the things that we've seen It's quite interesting recently. Eyes that a lot of the industry's globally have have halted on dhe agriculture and supply chains are really continuing to bay under an enormous amount of pressure. This is something that's been increasing over the past few years. Supply chains are under pressure to be more sustainable, more efficient, more secure. Big global challenges around sustainability are intrinsically tied to our supply chains, and how they function on those pressures of just ramped up. We're in a time of crisis. What people don't have access to the general supplies that they that they depend on for the whole range of reasons. Um, on dhe on our supply chains are being asked to deliver, to deliver efficiently to deliver safely on does a really big cost involved in doing that? And I think that the interesting thing when we talk about these pressures on supply chains and these precious on on farm is really too made. Our sustainability targets to me how beyond sustainability targets for your abundant and healthy and safe food. It's not just sustainable that's more than sustainable. I think that's kind of one of the hot topics, really, the moment a nag. But when we look at the pressures that have been placed on on farmers on the production end of supply chains, there is an enormous cost that comes with meeting those goals. If way, I think the number that's thrown out, if we're to meet the sustainable development goals, we're going to need to find an extra $2.3 trillion annually to invest in our supply chains. It's a really big number on that. Money needs to make its way in the large part to the production end of our supply chains, and at the moment we do not have the digital systems to make that happen, so well, yeah, I guess What we're looking at in this time is rammed up pressure on those supply chains to be more secure, to keep functioning when the rest of the world is is largely kind of shutting down. Ah, and to and to continue providing us with safe food and doing it in a way that's that's helping out Planet, um, and and Darryl. Big pressures. So yet a lot of challenges being placed on on AG on. I probably didn't talk about these essential ized part of it. Um, but one of the things that the way see right now is that, uh, the importance of really rapidly building trust relationships is paramount. Um, generally, people spend a lot of time in ag forming relationships with trusted supplies, and I think the numbers like, you know, it's about 35 to 40% off. Participants in supply chains don't trust the counterparties on dhe. Partially, there's That's because of the distance between us often in supply chains, and also we don't have a way of building that trust very easily on particularly right now, when supply chains having to rapidly kind of redirect and shift and find new supplies, whether it's because one country is no longer importing from a certain area role. Whatever the regulations might, it might have come in. Um, we're looking at finding new ways to quickly build trust relationships. And a big part of that is the power that decentralize solutions can offer. Thio, having a network consensus that agrees in Datta on a data set and using that as a foundation for building trust because you can trust the information you have, is correct. And that's really what what you need to be up to trust in these

spk_0:   8:09
times. Yeah, that's right. Very important. So you're a bit of a link between farmers, and, uh, would it be wholesalers or retailers or the consumer?

spk_1:   8:21
How platform really provides any sort of linkage between any sort of participants when we're talking about data, but you're right, we we thought that the farmer and so were often working with how we can connect a farmer in with their supply chain. So how do we financially connect them in? How do we connect the daughter in on? Often that means working with the trader or whoever's buying from them. If it's a wholesaler or if they're exporting too, you know, importer in China row wherever else they all but But the big paste that we do in addition to that, is connecting farmers and with finances. So they're providing live, darkest dreams over their land or assets to finance years both traditional and alternate financiers as a way of getting that access to finance. Because the financier then has visibility over the asset taken value it, they can see the land they can see the, you know, the crop growing, Um, on dhe that really shifts the nature of finance from something that's given off the back of maybe an existing mortgage to something that is really time an asset backed. So you have seasonal real time, a setback to finance, which is a very different model. But it meets the farmers. Needs a lot better, we think.

spk_0:   9:35
Yeah. Wow, that's exciting. So a financier can actually see the data as it's coming in live daily. Is there some kind of dashboard that they can

spk_1:   9:42
watch? Yeah, exactly where they report. Yes. So I mean, what we d'oh with Juries multi level. So we provide the protocol daughter Leah. But we also have a range of different interfaces in case. You know the finance. It doesn't have an existing technology sack they could use. Our interface, which is a dashboard, gives them a view into those assets where they're permissions to see things Onda last into aggregate. A lot of data. But if they wanted to run their own application dashboard, then they can absolutely do that within the within the Jura protocol space.

spk_0:   10:18
So that would that be something a government would want to use on the farmers in its country? Or is that really more for bankers and investors and other members of the supply chain?

spk_1:   10:29
Yeah, I think I always loved this because when I saw talking about a specific use case for this sort of information ever and always picks up another participant who would love to have access to that information on, I think that that's you know, that's the whole purpose. Particularly of having these decentralized applications is that you can bring in more participants and share information with them. So I think around here with a question about Can governments come in? What can they gain from this? It's it's a really good one. In fact, we work with a lot of industry bodies who are using this information yes to kind of understand their industry better understand the use about a potentially for reporting back on certain targets, whether it's social, um, you know, yields for the season or whether it's looking at your phone. You know, if you look at the grains example, you might be reporting back on your or you on your royalties in the to go back to the state companies. So there's a lot of work that the government can get a lot of help. They can get out of this inefficiencies. They can get out of this from having access to that data set. There's also a role for those industry bodies to play more proactively on dhe. We've recently done some work with the Australian Tea Tree industry, where we're helping them build out a certificate registry to manage and protect their farmers. Is that going into export markets because they have this highly valuable Australian tea tree oil city certification. But I face a lot of adulteration once it goes into an international market, often so what we're trying to do when there's air working with them. It's a government body. Government supported body, and we're working with them to build at a certificate tool so that they can maintain and protect the authenticity off their products with these digital records

spk_0:   12:18
do That sounds really valuable for both of farmers and the country itself. Who's exporting? Yeah. What about insurance? Couldn't would that sort of data on a farm? So, you know, possibly the health of the livestock, the movement of livestock, but also the crocks. Um, what kind of yield you're getting the soil. Humidity in the soil quality, the soil, all kinds of other farming data. Would that help? I guess the two other participants that I'm wondering about his insurance companies to see if there's a drought and they might be able to pay out quicker, faster if they had better data that you know, the the dams air dry or like, you know, straight. It's called the Bureau of Meteorology. So the weather, the government or private weather companies

spk_1:   13:08
Yeah, I shot. Sure. Question is absolutely. I think that there's a massive space for insurance companies to re frame their business models to be more tailored to the individual on being able to set up these kind of daughter flows and profiles around, you know, and individuals, farm or products here doesn't have to be just on phone, but whether it's through production but particularly on phone, being able to visualize that individual's risk profile on not having to generalize across an industry is really exciting in the sense that, um, you get a little bit more autonomy as a farmer here, um, when you're interacting with birth banks, but also with insurance providers. Andi, I think when you're when you're talking about having event driven smart contract, says one of their big technical features off protocol like cows. Basically, what that means is that a transaction within our network can be triggered by an event in the real world. Ah, this is This is a really interesting way for us to automate a lot of these relationships that generally require a lot of kind of checks of whether it's your checks of weather events or whether it's checks of water levels or whatever else you need to check to prove that there's been an adverse weather event to potentially trigger an insurance payout. Ah, lot of that can be manually. Uh, sorry. A lot of those manual processes can be replaced by these automated transactions using event driven spot contracts. So you could imagine that there's an adverse weather event. It's picked up by the by the weather tower confirmed by bomb. And you know the Australian case of your ideology on that. That event itself could actually be, um, the only thing we need to then trigger payout to any of the affected farmers who have, you know, the right insurance policy that covers off their their particular risk profile. So I think definitely there's there's a lot of work it can do on the farmer interaction. But I think also when you think about insurance policies and investing in insurance more broadly, being able to then create more diverse or spread your risk over multiple geography is but package them into the same kind of insurance products. To invest in is a very interesting concept that I, I think, should be explored more by people who are expecting the insurance face because there's a lot of a lot of new structures available there when you can fractionalized and on split the risk on the financial implications of a lot of these insurance policies.

spk_0:   15:48
Yeah, gives a lot more validity to the data If you've got more than one source. Yes, exactly. So it in regards to proof of location, we're probably not there yet. Specifically with the hardware cause juror is a software solution. I suppose it could plug into other elements in the real world. That would be calm, proof of location and possibly the weather events. Um, would be part of that, knowing that that's happening in that place. Is there any other way that we can prove that something in the tea tree supply chain is where it says it is? And how would that plug in to Dora? Yes. So when I say,

spk_1:   16:27
you know, we don't do software, sir, we don't do hardware. We just do software. Um, I think that that's because there are experts in the hardware space who do it so much better than than we do right now. You know, we focus in on what we're good at, and they do the same thing on We've formed a really seamless way, working with a lot of things, kind of more hardware, physical, world focused businesses on. We worked together on a lot of projects, So it is definitely there's a There's a lot of interaction between those specific partners who were looking at your ones. One specific solution, perhaps, is there looking at it at a code that could go on a, um, can to prove that it's never been opened before. Once he started going into hardware, I mean, it becomes very specific on Do you need to be, you know, an expert and very focused in seven spaces. And then we work with them to provide the very seamless way that they can then share that daughter and securely store it and make sure that if they're putting all this effort into capturing something in the physical world and making sure that it's accurate, that it's not gonna be corrupted on that, that information can then kind of make its way to other participants in this at the same level of validity and with the same level of trust in that daughter as they're working so hard in the hardware space to ensure, Um, so I guess, Yeah, that's that's where our FBI becomes something really powerful because we just make Barry B. I available to all of those businesses, and they can just feed daughter in so with William with the tea tree example. At the moment, it's a purely software play. Um, but there are plenty of opportunities to bring in hardware, particularly when we're looking at smart packaging on location tracking through the supply chain as it's exported. Um, at the mobile. What we're doing is very kind of localized to the initial on farm distill our and then through the first phases of trade. But once we go across border will be need to be tracking each of those drums and packages and containers on that requires a level of physical to digital, matching out at a much greater level of technology. I demand, I guess. So. You need to be more tech in when you're doing that, that that process on DSO will absolutely look Thio ramp up that physical to digital matching pace. You know, we all know about, like, gotta bases, is it? They're not actually good it at proving what's happening in the physical world, they proving what they're really good at. Proving what someone said happened s so we can always we can always maintain that in our system, and then we have partners who do the rest on the hardware side.

spk_0:   19:19
Beautiful. And that's a perfectly didn't for you to talk about the protocol itself and how the network consensus works. And what kind of platform using, maybe as technical as you want to get there is fine and to be interesting.

spk_1:   19:32
Yeah. Cool. Okay, Well, um, I guess if I rewind back to 2016 When we first started looking this technology, it did look very different than a time we had Ah, look at a couple of different protocols. Watch. It was it was quite obvious to our scary played around with high pledge are we had a look at, um, Ethereum from very early on and the value that we could get out of using spot contracts that were launching ethereum. Um, Onda Value of the developer community has been something that we've always found a lot of power in. Um, I think you if you look at the ethereum developer community, it's incredibly accessible on dhe. Such a, you know, a powerful, often solis network that it's always it's always been something that's allowed us to take our technology to the next level by bringing in other pieces of open source Tech. So for that reason, we do use an ethereum based particle. That's how that's kind of our coal technology. Ah, but we have our protected that in a way, for it to make the native agriculture so and no running on a public ethereum chain, we run like a commissioned instance. I'm often ethereum Network I on previously we run that using, um, something called Corrine. Ah. Which is the J. P. Morgan? A fury in protocol on dhe. The consensus mechanism we were using at the time, um, was frost consensus mechanism. So I'm giving a bit of a journey here. Um, was great. But now we're actually using a consensus algorithm called IVF T. So Istanbul eyes and taint fault tolerant. I'm gonna get that room. I think I was too many acronyms in the, um but basically, I mean, it's an alternative to work. Um, on dhe, we can definitely go into the details of it. I'm not sure if I'd be the best person to do it, but it's it's It is a really good tool for when you're looking kind of private Blockchain zo our permission book chains rather than public. Um, look trains and, um I mean, they're they're, uh, a bunch of different, um, benefits there, um, the block finality being being one of the big ones for us. But if we look like the rest of our infrastructure because it's not just a protocol we do run a whole lot of other technologies is part of our combined architecture. Um, we have a range of different things to provide, particularly a high level of privacy for our users. That's a really important thing where my looking at supply chains because they don't just want to have kind of privacy over their daughter. But we also need transactional privacy because people's counterparties, people's counterparty identities, eyes often seen as part of their secret source. Eso. We want to make sure that your your preferred trading party isn't made available to the entire network. Ah, so we've architect it, a pretty robust privacy solution around that that uses a range of different tech pieces to ensure that you have, first of all, full control over your data, and we can wait. We try to stay away from puns, but it's just impossible in this space and find a way we could find grain daughter control. So it's essentially you can turn on or off any single daughter point for any participant in the network on this is all done throughout commissioning system. Um, and we have different roles for different actors in the system. One of the you know, one of the big ones in ag is you often have an owner who was separate to the custodian of an asset. So we've created commissioning systems that really easily give the owner of the the rights around data and daughter visibility that they need to have. But also the custodian on identifying, you know who, where someone is a custodian and they make a claim about an asset. Um, that that that was coming from them as as as the place of someone who actually has physical control over an asset, that custodian doesn't need to be a person. It could be a thing. So you could have a Weybridge being custodian for a period. And then you're gonna trust the weight of that asset. Maybe a little more than if it were kind of your bride and soon be saying, Oh, yeah, that looks like 40 tons. Um, so So we built in quite a few different peripheral technologies, too, just like the cold Blockchain pace on dhe. I guess the the icing on top of this, like a protocol infrastructure, is really our a P I on DDE. What that does is it provides a layer of obstruction, so, in a sense, it's a centralizing element to our day centralized solution on what the what? The A P I does, though, is it gives our users access to this kind of quite technical solution at the base. But they can do it without you're any, um, experience with solidity or with any other Blockchain technologies of distributed technologies because they can just access the AP I and execute a number of different work clothes that do a whole lot of things with smart contracts in the engine itself. So our a P i IES available, and I developed a tool kit, which is just online, Um, and we have people who can onboard into the FBI really quickly. If you want to avoid that centralized layer and deploy directly into the particle yourself, you can. But it's just providing another tool for people to kind of more easily access to technology on ice. A dog team, Like I need to be able to use Arabia. If I can use our FBI, they were doing something right?

spk_0:   25:17
Yeah. Beautiful. That's great. To make it easy for everyone to read and understand and intuitive to operate. And so you're touching a lot of really important things there. One of them, I think, was privacy, which is a really important element in the supply chain. Andi, It's almost like you're talking about zero knowledge proof. So we've got proof of something, but we don't know who we don't way aren't given. The the elements of privacy aren't given away in that in that proof of information, is that? Yep. Right.

spk_1:   25:54
That's exactly what we're talking about. Yes. Okay. And, um sorry. Good. No, that's that I'm 100 sent with you that they are absolutely using zero knowledge proofs.

spk_0:   26:05
The other thing that might be really interesting for our listeners is how you become a how you get permission to to participate in this. So from what I understand, there might be a couple different ways to become a permission to user because I think I was really nice the way you put it as it's a permission to network. So we talk a lot and Blockchain about, uh, free and open source software and permission list networks and the other side of the coin to that is a permission network that you need authority to use the network. So how do you become a participant on Jura? Yeah, we have

spk_1:   26:42
two main pathways that we interact with the different members of our community or the participants within our network. Ah, the first, which is freely open and available. 21 Not just ag participants, but kind of anyone who's interested in taking a look at our tech from other supply chain industries are, um, not from different industries, but just individual developers is by accessing our developer portal on the model week we call that is thesent phone Border model. So it's someone who does have a technical team, has a problem around a certificate registry they're trying to build or assets that they want to create and track or potentially build out of finance. Registry on technical user is able to access out. Maybe I don't imitation other technical components in the toolkit on essentially to stop building using the protocol tools. Um That's the, you know, that's the cellphone border. But the reality of where our industry is is that most people do require a bit of assistance to help access the particle on. They come through our system on boarding Channel, where our team placed more of an act active role in deciding the requirements and what needs to be set up in order to, um, support a specific use case that they're trying to trying to achieve either products security or bring multiple different data sources back to a single record on and on some sort of aggregation tool, whether it's some, you know, building out a profile for assets in order to deliver a financing, um, product on on chain. So in that case, we play, you know, we sit down and on, we go through the different requirements. So we do a bit more of, you know, the customer employing ourselves on. We provide technical assistance to get them all set up and on for the protocol, and then we kind of hand it over and on the run with it. So, um, yeah, that goes to Maine models of how we how we bring participants into our ecosystem

spk_0:   28:41
great, and the listeners might be interested to know your business model. So you've got sort of a free model of a freemium model and then a a paid model where you help on board. But anybody can download the software, participate software or participate. It's free and open source. All right, yes.

spk_1:   28:59
So the technology of the FBI layer, Um, and a couple of the other access points beyond outstanding you are. Suddenly the eyes are there for anyone to kind of pick up him and play with, and there's no cost for doing that. What we do have is when we're executing payments or financial transactions we call the work flows through our system. There is a weapon execution fee. If you think about it in Syria. Mes kind of like how gas price for running that that transaction through our system. We did wave that for two years, so that takes us until now, January 2021. It's just to encourage people to come in and play with the technology and build outside and features without having thio. Don't worry about having to pay out of the gas price in network. Um, so that's the only cost that is encountered with cellphone boarding and then the assistant on boarding is it's really just the time. Uh, just a time thing. So depends how long it takes a team to get you set up on. Then that's just additional costume on top of actually using the protocol, which is largely free. It is completely free at the moment, but still largely free going forward because we have a a view around daughter contribution that you can't have. You know that this doesn't make sense for us to have a monetary modeler on that. We want to encourage, um, assets and identities and you know, the information, our system to be accurate. Um, and I think that by you know, some people take the model of making a payment for Gaza when people contribute daughter rewarding that. But we didn't want to have people spamming the network at the same time. I'm charging people to contribute data was discouraging the sharing of information. So we have ah, model around being free to read and write information and share that within the protocol.

spk_0:   30:54
That's wonderful. And who do you see getting in mind for this? In what order So it's farmers. Developers, detect developers, insurance companies, governments supply chain participants. How would that go? Like, who would sign up first? Who's sort of your first customers? And then Then how would that go? It's sort of an order. How did you see it falling into place? And And I know you can't predict how it's gonna go because free and open source software is unpredictable. You don't know what use case you'll find for it. But how do you see it at the moment? Um okay, well, maybe I can I can give

spk_1:   31:29
a bit of a history. We have to have a few customers who are on board already. Um, so the first the first consul of the act with was obviously angry. Digital saving another tech company. Um, on the second was also attacked. Company building out AI software solution for pig farmers in Papua New Guinea. On we left with them. And with it was a project sponsored by the United Nations and the government of Papua New Guinea and the company switch maven was kind of the customer facing application builder. And then and then we provided like that back end service for them So they did a lot of work on day on their side of the application, and then they just integrated the back end to get the benefits of out. I've got a base, lies and smart contracts. Um, from there, we worked with an industry body. Um, uh, we worked with a trader looking to shift their business. Um, those were both assisted on boarding projects. We've done our big chunk of work with the teacher industry on We did additional work with every digital providing a real time finance solution. I think that we're gonna see that. See that pattern continuing? So we're working with both technology companies that are looking for kind of a short cut to get a piece of tech off the ground and use out told, is the way of your investing less there and developed time? Um, because there's something readily available. Why not? And then on the other side, we're working with quite forward thinking angry industries. And agribusiness is generally the interactions with farmers has been through cooperatives or a joint industry model rather than individually with farmers. But I would like to see that happen. Um and then we're also seeing an increasing level of engagement from finances. I think that the alternate financing have probably comes on board before the banks and kind of more traditional finance does. But that's like, you know, that's the motorway. Supporting is is a set more adroll on dhe cloud based software rather than like the big enterprise solutions that banks generally used. But I see a place for them in this ecosystem for sure. Probably just under a different self immortal. They kind of used to.

spk_0:   33:43
And can you just for the fun of the thought exercise, walk me through What would happen if a farmer Liz listening to this and thinks, Oh, I want to give that a try And so they reach out to you. And what would this process look like for them? Um, yeah.

spk_1:   33:58
Okay. Well, we have completely, like open communication channels straight 12 technical, tame as well. In fact, all about taking the tamer from world parts of Australia, which is I'm no common for developers. Ah, and so they are teams probably likely to get really excited. We love hearing about particularly farmer challenges on understanding how he could be building to integrate with whatever sorts of technologies are being used on farms. I know technology could be anything from just an excel spreadsheet to some photos being taken to, like, you know, really highly technical tractor or some of the drone operations that we're seeing out instead of farms in this trailer. And that was awesome. Um, so would would probably sit down. We have a conversation on, we see. Okay. What? What's happening at the moment? What sort of information? Collecting What's your objective with this daughter? What you want to be doing with it on dhe. Then we go about working out the simplest way possible to integrate with with your existing technologies because we love using whatever is already there on. Beyond that, we said, Okay, what are the critical gaps where you might need to adopt a new technology? We can help you like people in without various partners who provide those other technologies on there from that point, the farm, but probably has a really good idea of what what their digital record could look like if they were to then use that for various purposes, whether it's accessing finance or proving out what's happening on farm to you. No, importer on the other side of the world, Um, and trying to get closer to that market. There's, you know, there's a couple of different objectives they may have on. We'll see how we can help facilitate and support those objectives. And if it's if it's beyond where where we support that, We always linking without community, um, and and other high tech companies the potentially working and that's in that space.

spk_0:   35:55
So farmers need or desire her financing is a great catalyst to get involved in this. Absolutely. Yeah, in three years, will Jor look like it does now or is I mean, does it fully built Now? Will that be more building happening from the community side or from your own team's development side? How will it look in three years? Do you think? Yeah, I

spk_1:   36:20
look, I can countries. It's going to look pretty different. Um, we always talk about your and our team. We're building out the bones of our infrastructure. We're building out the rails for data transfer's. Maybe that stuff looks the same or similar. No way. They're always improving things in iterating on what we've already built. But the core around creating a digital asset record building at a certificate registry. I'm guessing that that stays a in a fairly similar format. What is gonna look really different is the other side, from from way building is the other the other side to that. So that's actually the payment rails, and that's something we haven't really talked about yet in detail. But payments, you know, system are still being built out the moment our uses need to kind of bring in some sort of traditional banking rail in order to complete that circle on. I think it's race time. We're gonna see a much more shameless, um, much more seamless way of running that those those payments and financial system. But probably the biggest difference is just community your basis of technology. When we're looking at a daughter, that is, it works quite similarly between industries. The reason that we focus on AG is because we know ag, but also, um, I think it makes sense to focus in on specific industries because once you bring in more of an industrial participants who naturally attract with each other anyway, they start to kind of compound their success in their innovation. On top of each other because they can leverage each other's innovations. So if where then go growing community, um, across Australian agriculture, across agriculture throughout Asia, in the U. S. Then specific industries that do adopt this technology kind of from a broader industry perspective would be like leaps and bounds ahead and three years time because they can share their advances and share their innovations on. We think that the community part of Jura in three years time is going to be really exciting, and it's not so much that kind of cold bones infrastructure. But it's the other applications that are running on top of it and interacting with each other. Kind of create new business opportunity where it becomes really exciting on transformative in the next few years.

spk_0:   38:35
That's a perfect lead into how do your would look if your wildest dreams for its fullest potential came true? You talk just a little bit more on If everything goes incredibly well,

spk_1:   38:45
what happens? Yeah, isn't always an exciting question or an exciting, I guess. Dream to think about because I I do feel like so strongly about this problem space that we need to solve for both, you know, from a from a consumer perspective and also from an agricultural perspective, um, this chap, the challenges that we're trying to sell full with these financing payments on do your daughter transfer solutions that start to look quite technical if you start them too hard. But if you zoom out and you do dream, what you're actually talking about is a world where we're actually connecting farmers and consumers and we're sharing. I was sharing in the in the challenges and in the costs of solving for these big world problems on building a more sustainable in a more valuable way of life in bringing, you know, in bringing much needed finance to improve people's livelihoods and businesses. So I think that what we're creating is a space for my favorite kind of conversation, which is any conversation that brings farmers and consumers together around the same. You know, the same table on Dhe speaking the same language on I think it's a I think it's also a very you know, what this looks like is a world where farmers on the needs of farmers and not seen as a place to kind of donate money in times of drought or weather crisis. So are your fires, which which obviously is necessary. But it's seen as an industry that we should invest in because it's so valuable. And it's so profitable. Um, Andi that everyone should be thinking about that a little bit differently. Um, so where? You know, I definitely go to sleep dreaming about this most nice. Um, but I think that once we can start to bring down the information barriers, information a symmetries by providing these kind of sharing platforms. Ah, we're going to be in a much better place in so many levels, not just our businesses, um, and our business opportunities, but also how we interact with each other and how we think about solving for these really big problems.

spk_0:   40:53
Yeah, that's really exciting. Shifting from a donation model to an investment model for farmers.

spk_1:   40:58
Totally. I brings us right back to where we are right now. Right is this is an industry that's continuing when markets are crashing. Your agriculture is still working on dhe supply chains are still functioning, So yeah, it blows my mind that people don't see that as you know, the the best possible investment food will continue to be unaided. We will continue to need our supplies out out fabrics and fibers to go into face masks and everything else. So I think from seeing it is it as the most profitable and the most risk free. Almost I investment space is really imported, but at the moment it Xena's quite risky because of the lack of visibility and the lack of understanding. So we're hoping to shift that.

spk_0:   41:44
Yeah, so it's an essential service. The food? Exactly. Exactly. Yep. And I love the idea of it being a safe haven investment because we've witnessed in such riel time how if everything the world stops, what keeps going is the food.

spk_1:   42:02
Yeah. I was speaking to out a tree Oil Partners this weekend. They are flooded with orders because of all of the properties of tea tree oil being so useful for so many of the sanitation challenges we're having right now. It's one of the number one ingredients in hand sanitizer, uh, or useful ingredients, and they just can't keep up with the demands. So I think that yeah, we need to think about these industries differently on dsi it as something as you say, persisting on That's really a very profitable and frontline service that we should be investing in. Beautiful.

spk_0:   42:40
Thank you so much Friday for your time today. Oh,

spk_1:   42:42
not at all. It's been a pleasure. Thank you so much for listening to your dreams and passions that you're aware. We're really We're always really excited to growl community and and share.

spk_0:   42:52
I'll hope swivel people. How can people get in touch with you? And where can they go to follow you and Carlos work head to ji or a g r a dot io on checkout out. Give portal. If you're technically, if you're technically inclined, we'll head 12. I'll block or outwit ob your project. Keep reactive on like Dante So shadows or links to it When when things come up and connect things about the restaurant content. Thanks Friday. No problem. Thanks so much. This podcast is not financial advice. You should consider seeking independent legal financial taxation and other advice to check out this podcast relates to your unique circumstances. The makers of this podcast are not liable for any loss caused whether due to negligence or otherwise arising from the use of a reliance on the information provided directly or indirectly in this podcast mention of any company currency exchange. A person is not an endorsement of that entity. This podcast does not receive financial support from guests or advertisers to support lay of the land. Please, like subscribe, comment or share the podcast with your networks to make a financial contribution, please visit www dot lay of the land. Got space? That's L A Y O F T h e l a N d dot s p a c e Thank you and see you next time on lay of the land.