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Now, a blockchain enabled marketplace app for coffee
- The commerce ministry has launched a blockchain-based coffee e-marketplace app. It will help farmers integrate with markets so that they can realise fair prices for the commodity.
- Coffee Board is collaborating with Eka Plus, one of the global leaders in Digital Commodity Management platforms for Agriculture for development of the application.
- The block chain technology is expected to bring in transparency by reducing the number of intermediaries between coffee growers and buyers and help farmers double their income. It will also help in realisation of fair prices.
- Stakeholders like coffee farmers, traders, coffee curers, exporters, rosters, importers and retailers register on the platform to make trade transactions. The coffee farmer will be able to register credentials like place where coffee is grown, details of the crop, elevation, and other relevant information will be added on this platform.
- Further, whenever farmer sells on this blockchain platform, a unique block will be created for it. The credentials of each block will be stored on it throughout its journey and are immutable. This move will help bring transparency, authenticity and stop spurious and low-quality seeds from entering the market.
- A Blockchain is a digital, immutable, distributed ledger that chronologically records transactions in near real time. In simple words, it is an interlinked and continuously expanding list of records stored securely across a number of interconnected systems.
- India is the only country in the world where entire coffee is grown under shade, handpicked and sun-dried. Indian coffee is highly valued in the world market and sold as premium coffees.
