MCB's CEO and Co-Founder - Mr. Chris Lu Interview: Sharing about AgTech and DePIN, MCB's Impact on Advancing These Trends

Mr. Chris Lu, the CEO and founder of MCB, recently offered his insights on emerging technologies and the evolving landscape of the agriculture industry, with a particular focus on AgTech and DePIN.

Mr. Lu is the board advisor to several enterprises within nano-technology, precious metals, waste to energy, and smart farming, to secure large-scale G2G humanity deployment. He blends a hybrid financial background of capital investments and token offerings specializing in blockchain technology and payment remittance strategies which aligns with the emergence of Smart Contract 2.0 to identify opportunities, address speedier challenges, and transform organizations.

In this article, we will explore Mr. Chris Lu's interview by Alex for those considering entry into the AgTech and DePIN sectors, and how he envisions technology revolutionizing this industry based on his valuable insights.

Question 1: In light of the continuous advancements in science and technology, along with the various of new technologies, can you highlight some typical examples of the recent technological innovations driving AgTech?

Answer: As we are aware, AgTech, which is short for Agricultural Technology or Agrotechnology, represents the application of technological solutions in agriculture, horticulture, and aquaculture with the aim of enhancing crop yield, operational efficiency, and overall profitability. 

First and foremost, I'd like to highlight Artificial Intelligence (AI). Artificial Intelligence encompasses a range of technologies that empower machines to carry out tasks traditionally associated with human intelligence. This includes machine learning, speech recognition, and robotics. In the realm of agriculture, AI-powered technologies find frequent applications in the remote monitoring of crops.

AI, along with machine learning (ML) and IoT sensors, contribute real-time data to algorithms, resulting in increased agricultural efficiency, improved crop yields, and reduced expenses in food production.

The second one must be the Internet of Things (IoT).  IoT is a comprehensive term that encompasses all physical devices, both digital and mechanical, designed to collect and transmit data via networks. This category includes equipment like weather stations and livestock tracking systems. Innovative agricultural solutions based on IoT involve the use of sensors to monitor conditions in crop fields, covering aspects such as light levels, humidity, temperature, and soil moisture. These systems also automate irrigation processes. This technology enables farmers to remotely observe and control field conditions.

And we also can’t deny the importance of the application of Blockchain technology in agriculture. A prime example is the use of blockchain in the agricultural commodities sector, where the entire supply chain becomes transparent and interactive. To enhance both efficiency and confidence, data blocks within this system contain unique transaction information related to the supply chain.

Blockchain technology in agriculture paves the way for effective traceability and information management throughout the entire food supply chain, thus bolstering food safety. Its data storage and management capabilities facilitate traceability, which, in turn, supports the development of innovative agricultural practices and index-based insurance solutions.

Moreover, we also have soil sensors, which are deployed on farms for the purpose of monitoring both soil conditions and crop health. Additionally, there's Augmented Reality (AR) technology, which AR empowers farmers to gain a comprehensive visualization of their entire farm through a single dashboard. Another advancement is Autonomy, where technology operates without the need for human instructions. Or Robotics technologies that can take over tasks previously performed by humans. For instance, automated robotic harvesters are capable of picking ripe fruits and vegetables. These represent just a few examples of the array of technologies contributing to the transformation of modern agriculture.

Question 2: Farmers are under shifting pressures, making them more open to using AgTech innovations to boost their profits and reduce financial risks. But what's the biggest concern for farmers?

Answer: Changing circumstances are prompting farmers to increasingly consider agtech innovations as potential solutions for boosting their profits and reducing financial uncertainties. According to a global survey, 39 percent of farmers are presently using or have plans to adopt at least one AgTech product in the next two years. The foremost concern currently troubling farmers is the surge in input costs, with 67 percent identifying rising input prices as one of their top three worries for profitability over the next two years. These concerns are justified, as farmers worldwide report that input prices have surged by approximately 80 to 250 percent in recent years.

Mr Chris (left) Sharing about AgTech and DePIN, MCB's Impact on Advancing These Trends 

Question 3: The Internet of Things (IoT) has transformed the way physical objects connect with the digital world, once a concept from science fiction. However, as we progress further into the digital age, DePIN (Decentralized Physical Infrastructure Networks) is evolving as the subsequent phase in the IoT revolution. Could you tell us more about the advantages of DePIN?

Answer: The importance of bridging Web3 with the physical world economy is that it will allow the two worlds to interact more seamlessly and efficiently. This will have a number of benefits, including:

  • Increased efficiency: By bridging the two worlds, businesses will be able to automate and streamline their operations. This will lead to increased efficiency and productivity.

  • Improved security: By using blockchain technology, transactions can be made more secure and transparent. This will help to reduce fraud and other risks.

  • Increased trust: By using decentralized platforms, businesses can build trust with their customers and partners. This will help to attract new customers and grow businesses.

  • Broader reach: By bridging the two worlds, businesses can reach a wider audience. This will help them to grow their businesses and increase profits.

The real-world marketplace is much larger in scale than Web3, DeFi, or cryptocurrency. This means that there is a huge potential for growth in the Web3 economy if it can be successfully integrated with the physical world.

Question 4: MCB emphasized that you architect the leading DePIN Projects. So how exactly does MCB boost the growth of DePIN?

Answer: MCB Ventures DAO leads the way in revolutionizing the supply production industry through its cutting-edge AgFinTech ecosystem. By harnessing blockchain and crypto-economic methods, our DePINs framework, consisting of IoTs and Next-Gen RFIDs, enables people worldwide to collaborate in generating, administering, and supervising physical infrastructure networks. This facilitates a decentralized, robust, and smooth operation, eliminating the necessity for central trust or permissions in serving multi-trillion-dollar real-world economies. 

Mr Chris (left) at the latest interview with Alex (right)

Question 5: Could you please explain more about how are MCB’s DePIN projects currently doing?

Answer: MCB's DePIN initiatives will employ a combination of token-based incentives and other mechanisms to encourage user participation in the network. These mechanisms include:

  • Incentivize the deployment of new infrastructure: DePIN projects can offer rewards to users who contribute to deploying new infrastructure by tokenizing certain aspects or phases of the project as fractionalized infrastructure. This can help to accelerate the deployment of new infrastructure and make it more accessible to a wider range of users.

  • Reduce the cost of infrastructure: DePIN projects can help to reduce the cost of infrastructure by crowdsourcing the deployment and operation of infrastructure. This can make it more affordable for businesses and individuals to access essential infrastructure services, enabling more participation and turning capital-intensive infrastructure  into more accessible shared assets

  • Improve the security and reliability of centralized infrastructure: Create distributed ledgers that can record transactions and track the status of infrastructure assets. This can help to prevent fraud and to ensure that infrastructure is always available when it is needed.

MCB actively looks for and welcomes innovative DePIN projects that align with our mission and can create positive impacts in their respective industries such as Hyper Scale and Mushcapbio… MCB Ventures DAO's DePIN projects are gaining momentum and have the potential to transform the supply production sector, enabling individuals and businesses to work together while overseeing and managing physical infrastructure networks.

Thanks to

Alex is also Encrypted Production Bitcoin documentary film Co-Founder (El Salvador, Dubai episodes). CZ - founder Binance, Nayib Bukele - president of El Salvador, Justin Sun - Tron Founder, Charles Hoskinson- Cardano founder and many others participating in the film.