Quick Intake
Let us see one more use case of Blockchain w.r.t Supply chain sector
Any technology to create more Prosperity should benefit the ground level people.
Indonesia has carried out a blockchain project where After scanning a barcode at Blue Korintji Coffee, Customers can identify the farmer who grew their coffee, the company that roasted the beans and even the logistics involved. Even they can tip the farmers who have grown the coffee seeds.
A completely transparent and trustable log of events helps companies to gain customer trust.
Indonesian company BLUE KORINTJI COFFEE has deployed the blockchain to track the entire journey using EMUGO services, A Singapore startup.
A similar Blockchain project has been carried out by IBM named THANK MY FARMER!
Happy Reading…
After scanning a barcode at the Indonesian coffee chain Blue Korintji Coffee, paying customers can identify the farmer who grew their coffee, the company that roasted the beans and even the logistics involved.
Powered by blockchain, modern technology’s answer to establishing trust among an otherwise unconnected group, the initiative is the brainchild of Singapore startup Emurgo which has partnered with Blue Korintji to create a premium product that ultimately boosts returns to farmers.
Making use of blockchain technology would help Blue Korintji differentiate its product in an increasingly competitive market where consumption has almost quadrupled since 1990, company founder Budi Isman told the Nikkei Asian Review.
Knowing which farmers made a cup of coffee, “in terms of the story, and to the consumers, is very beneficial,” Isman said.
With people more willing to pay higher prices for products they can trust, Budi said Blue Korintji would also pay a premium if he could be certain which farmers produced the coffee beans.
As Asian tastes grow more sophisticated, and consumers show more concern for how their food is produced, including its impact on the environment and the working conditions of those involved in bringing it to the table, farmers across the region are embracing blockchain to help improve supply transparency and add value to their produce.
While the churn rate of blockchain startups tends to be high, according to FAO investment officer Gerard Sylvester, “developing expertise in one specific field [such as agriculture] will be helpful and even within that field, focusing on one important value chain will help in sustaining solutions.”
Still, with many blockchain agriculture projects still in the pilot stage, challenges remain.
Earlier this year, U.S. technology giant IBM also announced the launch of an app that allows consumers to track the coffee supply chain in a partnership with leading global players Beyers Koffie, the Colombian Coffee Growers Federation, and the Itochu Corporation.
For Blue Korintji Coffee the decision to make use of blockchain technology started out of a social project to increase incomes for the 500 farmers it works with near the Kerinci Seblat National Park on Sumatra island.
Farmers and companies record their transactions on their smartphones based on each invoice which is then stored in the blockchain-powered database.
Blue Korintji parent company Lembah Kerinci Developindo currently owns six coffee shops in Indonesia which turned $117,000 in 2019, is looking to triple revenues over the next three years, and capitalizes on what research firm Statista calls the younger generation’s “newfound appreciation for locally-produced coffee.”
