State-run owned coffee Board of India has now collaborated with the Eka Software Solution Pvt Ltd, which helps in the development of the commodity management software solutions, to launch a blockchain for its marketplace to remove the middleman and bring the transparency to the business.
According to the report, the Blockchain would provide both the buyers and growers with a unified platform for better fair trade practices and traceability. This is as of now the third blockchain solution for the coffee growers across the globe after Ethiopia and France.
“This pilot project will help integrate the farmers with markets in a transparent manner and lead to the realization of fair prices for the coffee producers,” said commerce secretary Anup Wadhawan. He added that the blockchain would reduce the number of layers between the growers and buyers, leading to an increase in farmer’s income.
The deployment will help the gamers to simply reach to a wide set of buyers, which will in turn also helps in manage sale, negotiate and purchase and delivery of products in the real time scenario.
Some of the other features of the collaboration include the online framework for sharing the transactions and ledgers and the potential for the automatic digital payments in partnership with the trade. The release also stated that a digital Identification would also be created for all the physical products and the sources of records would be accessible to all the parties.
“With this activation, we are confident that the Coffee Board 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,” said Manav Garg, chief executive and founder of Eka Software.