- 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."
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
XRP ruling by Judge Torres denied in Coinbase lawsuit, yet another blow to Ripple
XRP programmatic sales ruling by Judge Torres completely rejected by US Court in Coinbase lawsuit. US Court rejected Coinbase’ motion to dismiss SEC lawsuit, weighing heavily on Ripple’s legal battle.
Sushi price eyes $3 after clearing key weekly resistance level
Sushi price flips the $1.628 resistance level into a support floor after a month of struggle. A temporary retracement might be a good opportunity to accumulate SUSHI before a retest of $3. A breakdown of the $1.267 barrier would invalidate the bullish thesis.
Bitcoin Price Outlook: Will $150 billion bank Morgan Stanley send BTC to new ATH?
Bitcoin has recorded increased volatility this week, with most of BTC holders currently in profit. As market activity continues to grow with long-term holders now ramping up on distribution pressure, the pioneer crypto is bearing the brunt of growing overhead pressure.
Coinbase loses first round of battle against SEC
A day after the SEC filed a lawsuit against Binance last year, it went after Coinbase in a sign that the clampdown is extending to key players in the industry. The latest development in the matter is that the court has ruled in favor of the financial regulator, which means the case will continue.
Bitcoin: BTC may have recovered, but is it out of the woods?
Bitcoin’s (BTC) upward momentum has shown a significant decline for the past two weeks or so. This development led to a bearish signal on the weekly and an uncertain outlook on the monthly.