Coffee Blockchain Initiative

  • Category
    Economy
  • Published
    4th Apr, 2019

Context

The Coffee Board launched the pilot of the country’s first blockchain-based marketplace app for trading in Indian coffee, aimed at getting growers better returns by removing myriad middlemen.

About

  • Known as the Coffee Blockchain initiative, the pilot was activated simultaneously by the executive director of the International Coffee Organisation, Nairobi and Anup Wadhawan, India’s commerce secretary.
  • The blockchain-based solution was developed in coordination with Eka Software Solutions.
  • India became the third country having a coffee blockchain after France and Ethiopia.
  • It will allow a coffee producer to directly transact with multiple buyers.
  • The aim of using blockchain is to “premium-ise" coffee, add “bean-to-cup traceability" and cut the role of middlemen.
  • Blockchain is no longer a technology that is just about powering cryptocurrencies like bitcoin and ether. But a distributed digital ledger technology (DLT), and it is also being used by manufacturing companies to improve their supply chains; by healthcare and electricity companies; and by the financial sector to make transactions more transparent.
  • In India, coffee is cultivated in about 454,000 hectares by 366,000 coffee farmers -- 98% of them small farmers -- whose returns are meagre.
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