I have been following farmers protest from 26 Jan.
Here is what I think.
India is basically agricultural economy so we don’t just need farm laws or capital but infrastructure. So right now we should focus on what we do best ie, agriculture.
Food crops are already surplus as per official records. So by implementing modern techniques machines etc it can be made basic and very cheap or free. The extra can be exported.
But with corporate intervention this can be done effectively. Big farm owners can sell food crops to government or corporate. Block chains can be implemented to decentralize it.
Small farm owners can do other crops of their specialization like Nagpur Oranges, Allahbad(Prayagraj) guavas etc and take extra price.
Now for environment or monsoon that affect production I think there is an internal environment also. If that is in control external remains in control.
See this video https://www.youtube.com/watch?v=8fbhI1qVj0c
It explains that block chains is a chain of ledgers. It is similar but not exactly like internet which is not owned by anyone.
But it solves the trust problem and the intermediary problem of the internet.
The trust here is distributed in the block of ledgers owned by different organization like banks etc use. Every time a transaction or event happens it triggers other event like updating their ledgers. Crypto currency like bit coin is an incentive that was invented to give to the people who own these ledgers.
23 is the number of farmer who kill themselves everyday.
Block chains can be a risk free rent option for them. For ex 11 farmers can own one tractor.
In land ownership which government is trying to digitize. Block chain can help see all the previous ownership and also hacker safe.
They can also use it to consolidate small farms into larger area. Then use bigger machines like tractors harvesters etc owned in groups. These smart contract can move money, land input output in a transforming way.
In small scale it is like exchanging money and lucky draw in kitty parties. On large scale it is like chit funds which is a parallel banking system in our country. 10 % of India’s saving goes to chit fund. But the amount of fraud in chit funds is about 10 billion dollars because of absence of any such technology.
There are many other application like Power, NPA, loans, health care, managing subsidies, education, prevent voter fraud.
All the issues with Adhar. Block chain is the right way to do it.
Power distribution problem in India is also be handled same way. We produce power in big centralized plants and then distribute it in cities. But there is power shortage in villages or the very area it is produced which really doesn’t make any economic sense. I know because I have worked 8 years in NTPC power plant.
There are methods to produce energy there like solar, wind etc on a micro grid. But to properly distribute it and manage usage block chain can be used. Actually you can use crypto currency to maintain the ledgers or buy and sell such power to donate it.