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Let’s go save some animals - DePIN for designing data driven supply chains

The DePIN Diary

GM DePinners, 

Let’s talk about the new world we find ourselves in where we can properly forecast demand using real-time data and analytics. Whether this is the start of your DePIN journey or perhaps you have been an MNW hodlr for quite awhile now, I am going to use this DePIN Diary to share just a few thoughts on the bigger issues and how tackling them with blockchain maybe more tangible than you think. 

Did you know that 1 in every 4 animals raised in farms never makes it to your plate? I hear you, what’s this got to do with forecasting demand? Well a lot really because as consumers we are a bunch of wasters while on the other side of this stat, the UN have reported that over 780 million people suffered from food insecurity in 2022. 

I am just beginning to understand the full picture in the world of decentralized physical infrastructure and the ‘Ah ha’ moment really came after reading an eye opening VOX report. Here is a snapshot of what it outlined: Basically, the UN Food Waste Index report revealed that globally, over a trillion dollars worth of food is wasted annually, contributing significantly to environmental degradation and greenhouse gas emissions. 

Despite there being more than enough food produced to feed everyone we are failing miserably to track, forecast and distribute the food effectively. Come on people, the technology exists, we can do better. That’s when the penny dropped and I went down the DePIN rabbit hole. I am still very much in that hole and I will tell you that writing from that hole is both lonely and thrilling all at the same time. Somebody send me some MNW to cheer me up. Onwards we go…

What is DePIN?

Decentralized Physical Infrastructure Networks (DePINs) are systems that combine blockchain technology with physical infrastructure, enabling decentralized operation and management. With a market cap exceeding $32 billion, DePINs have reached a new level of popularity in recent months, sparking interest in their functionalities and potential within the crypto sphere. 

By blending blockchain with real-world applications, DePINs represent a new vision for peer-to-peer networks where communities can contribute to major issues facing us globally. I am not going to deep dive into an explanation of DePIN  and all of the benefits when this guy has done quite a good job of it already. 

However, what I will say to add onto this and in relation to the supply chain specifically is that DePIN is a way to categorize what Morpheus Network has already been doing by securely pairing supply chain management with advanced blockchain solutions. 

DePIN gives producers and distributors a crystal ball that can help to better predict demand and uncover hidden inefficiencies. Can we kiss goodbye to unnecessary waste and optimize demand? Let’s do it. 

Forecasting Demand 

What are some of the key barriers when predicting future demand as a business or even as an economist? No matter how sophisticated your models are, if you have inaccurate or unreliable data then you may as well be wearing a tinfoil hat trying to predict natural disasters. 

Forecasting is complex and the world is full of volatile situations that are making it harder than ever to use intuition based decision making. The global pandemic demonstrated the reliance of industries upon each other, showing that external shocks can have massive consequences on business operations. Blockchain based solutions like Morpheus provide a more wholesome view of what's happening to protect against potential disruptions before they leave a nasty stain on the business. 

Planning and making decisions using blockchain ensures data accuracy and integrity, helping all logistics companies to navigate choppy waters with confidence. Returning to our example of excess animal breeding for consumption, it is only natural that producers want to sell as much produce as possible to an eagerly waiting, hungry market. However, let's take a minute to stop and think about who needs what and where does it need to go.

Every company today will be under increased pressure to offer transparency when it comes to their ways of work, including minimizing waste and harnessing technology to be more sustainable. DePIN has a leading role to play here and will give forward thinking food distributors a competitive edge.

GN for now. 

The DePIN Guru 📌📌📌

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