India Is Going to Use Blockchain for Its Coffee Supply Chain
Yesterday, on March 28, the Indian Ministry of Commerce and Industry (MCI) announced its blockchain initiative regarding the management of the supply chain of coffee. This decision was taken together with the Coffee Board of the country. The Coffee Board is an organization backed up by the ministry and the government and its main role is managing the production, distribution, promotion and export of Indian coffee. The blockchain project is meant to connect all the participants of the supply chain, from the people who grow coffee to the ones that buy it, quickly and safely. There will be no need for any kinds of intermediaries.
“The project will help integrate the farmers with markets in a transparent manner and lead to realisation of fair price for the coffee producer,” said Dr. Anup Wadhawan, the Secretary of the Ministry of Commerce and Industry.The initiative will first come out in a pilot mode to test out its potential. Only the limited amount of farmers are going to take part in it. The first phase will last for approximately 4-5 months. If the project proves efficient, it will be launched for a longer period of time and will include all the Indian coffee growers (around 350 thousand). Besides tracking and managing coffee in the supply chain, this initiative is meant to support the local production of coffee and “double the income” of Indian farmers. Major retail companies of the world are upgrading their supply chains onto blockchain technology due to its transparency and speed. We remind you that the similar project was established by the French supermarket chain Carrefour. Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/