The Coffee Board of India on Thursday activated a blockchain-based marketplace app, in a bid to provide better returns to coffee growers by removing 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.
The app, launched by commerce minister Suresh Prabhu last September, was activated on Thursday after months of testing with farmers and traders.
Coffee Board CEO Srivatsa Krishna said the goal off making this app was to premiumize 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 transperencey in price discovery.
First Published: Mar 30, 2019 2:39 PM IST
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