It all started on a farm in Turkey in 2016 when one of our advisors sat down with one of the future founders of Pavo. He began to explain the major gaps in the agriculture industry. He covered the entire lifecycle of his crop production and the major issues he was having as a farmer with crop production data, suppliers, wholesalers, and distributors.
Eventually, it became clear that what he needed was a software platform which monitored the health of his crops. He needed to know if his crops required more water. He needed to know if his crops required more nutrients, and he wanted to better understand how past crop performance was stacking up against his current crops.
If the farmer was supplied with this information, he would be in a far better position to predict crop production volumes and ultimately set a fair price for his crops. It was this conversation which in due course resulted in the birth of Pavo.
In 2016 and early 2017, the founders of Pavo conducted a wide variety of interviews with farmers from around the globe. Farmer after farmer cited lack of data, difficulties setting crop prices and inability to truly understand how healthy their crops were during the production lifecycle.
With this knowledge at hand, the founders realized that there was a need for a complete software platform which not only benefited the farmer, but also improved the entire AgTech ecosystem by providing data transparency throughout the crop lifecycle.
INSIDE THE MARKET:
Globally, food and agriculture represent a $5 trillion industry, which will continue to expand with population growth. Some forecasts call for the total global caloric demand to increase by 70 percent by 2050, when there will be a projected 9.6 billion people on the planet, and crop demand for human consumption and animal feed will increase by at least 100 percent. The smart agriculture market alone is projected to grow from $5.18 billion in 2016 to $11.23 billion by 2022, at a compound annual growth rate of 13.27% between 2017 and 2022.
WHAT WE ARE BUILDING:
Pavo is a blockchain-based cryptocurrency and IoT software platform designed for the multitrillion dollar global agricultural industry. Our goal is to increase operational efficiency for agricultural companies, and provide a safe and secure economy. Pavo aims to lower costs and increase yields for participants across the industry.
The software part of the platform is Pavo, which is intended to help growers increase yield, quality, and purity of their products. We help our users by tracking production in real time, through the Pavo IoT gateway.
Our system helps them analyze activities throughout the growing lifecycle, from keeping records of planting, crop growth, and crop health at the farm to crop distribution to stores.
We follow the health and efficiency of crop production, labor costs and productivity, to help farmers yield the best results. We like to say that Pavo is trained to give advice, detect risks of crop loss, and help farmers manage production more effectively.
Coming up in Part 2 of the Birth of Pavo — we will cover how the ICO is just a small stepping stone on our path to deliver smart crops to the world.