According to a report by the Indian Ministry of Commerce and Industry (MCI) on March 28th, the Coffee Board of India has recently introduced a Blockchain-powered e-marketplace for coffee.
Specifically, the MCI-supported organization has utilized Blockchain technologies to develop the e-marketplace, in an attempt to improve India’s coffee supply chain, along with lowering the number of intermediaries within coffee growers and buyers.
The new Blockchain-based development will be released as an application, with an objective to enhance the “bean to cup” Indian-produced coffee’s transparency and traceability. the Coffee Board has partnered with M/s Eka Plus – a Digital Commodity Management platforms for Agriculture – to properly execute the product.
As said by the Indian business website Business Line, this new e-marketplace will initially be on a test run with a selective group of growers in a 4-5 month time period. If this pilot phase ended with success, the application would be used by all growers nationwide, which is more than 350,000 people.
Blockchain technologies have been strongly accepted by food processor throughout the globe to provide more efficiency for their supply chains. A collaboration between the United States National Pork Board and startup ripe.io was formed, to assess the new pork supply chain system, which is expected to track and evaluate sustainability practices, food safety standards, livestock health, and environmental protections.
Blockchain was also utilized for improving European agriculture supply chain management by the French president, Emmanuel Macron. He believed the implementation of blockchain technology would allow guaranteeing the origin and the traceability of the products, as reported by The Crypto Sight on Feb 27.