The Commerce Ministry has launched a blockchain-based online marketplace app, in a bid to provide better returns to coffee growers by removing middlemen. This e-commerce platform is designed to help farmers get a fair price for the coffee because it removes middlemen.
The Coffee Board worked with Eka Software Solutions, which counts mining giant Rio Tinto and agriculture major Cargill among its customers, to develop the app, known as the Coffee Blockchain initiative.
With this, the Coffee Board of India has taken the third spot in launching a blockchain coffee trading app, after France and Ethiopia.
Commerce Secretary Anup Wadhawan said this blockchain is an experimental programme to increase transparency in the coffee industry. He said, “This pilot project will help integrate farmers with markets in a transparent manner and lead to realisation of fair price for the coffee producer.”
The app, launched by commerce minister Suresh Prabhu last September, was activated after months of testing with farmers and traders.
Coffee Board CEO Srivatsa Krishna said the goal off making this app was to premiumise Indian coffee, eliminate middlemen and to put the farmer in control of price.
He said the blockchain app will provide traceability from bean to cup and transferency in price discovery.