Coffee growers in Honduras looking to efficiently guarantee the fair trade of their beans have found a solution in blockchain.

According to TheBlockCrypto, GrainChain has introduced a process using blockchain technology to aid Honduran coffee bean farmers in tracking the trade of their produce.

Blockchain to Track Coffee Beans from Farm to Consumer

Building on its blockchain-based supply chain software, Texas-based GrainChain is to provide a way for coffee growers in the Central American nation of Honduras to follow their beans through the logistics process to vendors and, ultimately, to consumers. The software has onboarded key members of the coffee supply chain, from farmers and fair trade auditors to exporters, manufacturers, and vendors.

GrainChain CEO Luis Macias explained, “Our platform provides guarantees and visibility through the entire process, which empowers growers and vendors while reducing risk to bankers and buyers,” indicating that the enhanced process lowers the high cost of fair trade and improves the industry as a whole.

Blockchain-enabled Fair Trade Coincides with Rising Demand

The GrainChain system uses blockchain technology to bring together essential fair trade processes, such as certification and inspection. Audits of farms are rewarded automatically with loans deposited to digital wallets set up for each farm that can be used for purchasing equipment and supplies. The technology has already attracted over 12,000 Honduran coffee growers.

The system is being introduced just as fair trade goods are seeing a boom in demand.  Fairtrade International reported that sales of fair trade certified products worldwide grew US$9.74 billion in 2017 from the previous year.

Source: www.theblockcrypto.com

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