[ad_1]
With the aim of modernizing the economy surrounding cows and bovine-based products, working papers published by the Indian Institute of Management Ahmedabad (IIM-A) proposed the use of an AI-based ‘social token’ and animal facial recognition system.
In a paper titled ‘Special Token Economics for GAU Coin’, a team of four led by Professor Amit Garg, Public Systems Group, IIM-A, proposed using GAU coins as social tokens, which would be developed keeping in mind all aspects of ‘token economy’. , including the reward system, motivation, methods for increasing adoption, methods for measuring social impact, and more.
GAU, which stands for Gai Aadharit Unnati (cow-based development), is what the paper’s authors call their model for modernizing a cow-based economy through the application of advanced technology.
“As part of the GAU model, multiple stakeholders are brought together such as companies, NGOs, Goshala, donors, and government. Technology plays a major role in the GAU model by being an enabler. We also identified several GAU Coin system partners and enablers, and looked at how their interaction with the ecosystem,” Garg said.
Garg is confident that the model will be widely accepted. “We are trying to change the way society thinks about cows and livestock,” he said.
According to the paper, GAU coins can be used to carry out various transactions in a digital platform in which different components of the GAU ecosystem can interact.
“While all other tokens have some kind of monetary or similar incentive in mind, a social token like GAU Coin is not intended to do so. The primary purpose of this token is to bring individual participation into the ecosystem and participants to the technology platform,” she said. the paper.
GAU coins can be earned by participating in activities associated with the GAU ecosystem. Garg said that these tokens cannot be purchased, but can only be obtained through the service. “It can’t be used for money, that’s very clear. Maybe in the future, if that happens, it might become more attractive financially, but our goal is to make it a service thing,” he said.
Apart from using blockchain technology for tokens, the GAU model also includes the use of AI-based facial recognition technology, which was proposed in another paper, written by the same team, published in 2022.
Garg says animal face recognition technology will make livestock accounting easier. The ecosystem will enable tracking of the number of cows present, with a facial recognition system helping to avoid “false cow counting”.
Although GAU coins are yet to be introduced, the GAU model is already being piloted in Mathura, Uttar Pradesh and in Vadodara, Gujarat, which is home to about 50,000 cows. A website and mobile app have been launched, allowing the public to participate in the ecosystem.
According to co-author Gaurav Kedia, under this system, money from donors goes to partner NGOs, who then contact feed provider companies and make sure that the cow owners or gaushalas get the required feed. In return, gaushalas can provide cow dung to NGOs or feed providers, which they can use for fuel, fertilizer, and other purposes.
Kedia, President of the Indian Biogas Association and Co-Founder and CEO of TechMachinery Labs, said, “Cows have been an intrinsic part of our homes… Even today, there are people doing great work for livestock, but in silos. The idea is to use technology as a handshake between these people. First, We used AI facial recognition, which helps donors transparently track cows, followed by GAU coins for an inclusive circular economy.”
In the long term, the model aims to remove the donor component, Kedia says, explaining that “anything that relies on donations is not a true business model. The idea behind it is to provide a whole ecosystem for livestock and stakeholders where the Goshala can get cash, and provide private land.” and not relying only on donors.
[ad_2]
