Board of Coffee in India to launch pilot blockchain marketplace
|- The Indian board of coffee, in conjunction with Eka Plus, are launching a blockchain platform to keep track of their products.
- The project was announced last September in Delhi by Suresh Prabhu, minister for commerce and industry.
The Indian Ministry of Commerce and Industry announced that the Coffee Board is integrating blockchain into the coffee industry. The pilot blockchain marketplace will connect coffee farmers with the markets to increase transparency. This will also reduce the number of third-party entities and middlemen who work between the coffee farmers and the buyers.
Srivatsa Krishna, chief executive officer and secretary of the Coffee Board, said:
“There were more than 20 stakeholders from three different countries. We had to get all of them on board, and then test the platform. We believe this is perhaps only the third attempt at a coffee blockchain after France and Ethiopia."
The blockchain platform is being developed in conjunction with Eka Software Solutions. Manav Garg, the company’s CEO and founder, said:
“With this activation, we are confident that the Coffee Board of India will help the Indian coffee trade make more inroads into the premium market internationally and make India one of the top three coffee producers in the world."
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