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Coffee Board activates blockchain-based electronic marketplace in India
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Saturday, 30 March, 2019, 14 : 00 PM [IST]
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Our Bureau, New Delhi
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The Coffee Board launched a blockchain-based coffee e-marketplace through video conferencing in New Delhi recently. Speaking on the occasion, Anup Wadhawan, commerce secretary, said that this pilot project will help integrate the farmers with markets in a transparent manner and lead to realisation of fair price for the coffee producer.
He added that the blockchain will also reduce the number of layers between coffee growers and buyers and help farmers double their incomes. The share of farmers in the final returns from coffee is very meagre.
The project was activated simultaneously by Jose Dauster Sette, executive director, International Coffee Organisation (ICO), from Nairobi, Kenya. Rahul Chhabra, India’s high commissioner to Kenya, was also present.
The blockchain-based marketplace app for trading of Indian coffees is intended to bring in transparency in the trade of Indian coffee and maintain the traceability of Indian coffee from bean to cup, so the consumer tastes real Indian coffee and the grower is paid fairly for his coffee produced.
This initiative will help in creating a brand image for Indian coffee through traceability in reducing growers’ dependency an intermediaries by having a direct access to buyers for a fair price for their produce, in finding right coffee suppliers for exporters and within the stipulated time to meet the growing demands and in building a better trust and long-term relationship due to increased visibility towards the traceability and transparency of the produce.
Coffee Board is collaborating with Eka Plus, one of the global leaders in digital commodity management platforms for agriculture for development of blockchain-based marketplace application.
Eka Plus have developed the application and a group of 15-20 coffee farmers, exporters, roasters, importers and retailers are already registered on the platform from India and abroad. It is one of the few coffee block chain processors for coffee, after France and Ethiopia, in the world.
Stakeholders, like coffee farmers, traders, coffee curers, exporters, rosters, importers and retailers, register on the platform to make trade transactions. The coffee farmer registers credentials like the place where the coffee is grown, details of the crop, elevation, certificates (if any) and any other relevant information.
A block is created for each of the lot the farmer sells on the blockchain. The credentials of the block or lot will be stored on the blockchain throughout its journey and are immutable.
Commerce secretary Anup Wadhawan activating coffee e-marketplace in New Delhi
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