In India, blockchain acceptance is slowly gaining ground. As it has now become known, the Government-supported Coffee Board of India launches a Blockchain pilot project . According to the organization, Indian coffee makes a significant contribution to preserving India’s unique biodiversity. He is also responsible for the socio-economic development in remote areas. Mostly it is cultivated in ecologically sensitive regions of the western and eastern Ghats. Indian coffee enjoys great popularity on the world market and is considered premium coffee. However, the participation of farmers in coffee yields is very low. The marketplace based blockchain technology will therefore not only increase transparency in the future, but also improve farmers’ pay.
What is a block chain supply chain?
The further development to the blockchain supply chain creates a new transparency level for supply chains, since all transaction fields are comprehensible. This innovation allows a faster response to counterfeit goods or excessive residence time of goods. In the future, such. For example, product recalls, counterfeits or wastes can be reduced.
In India, a practical implementation of the concept is pursued. The blockchain-based marketplace will enable the traceability of Indian coffee from bean to cup in the future. Consumers should be able to be sure of the origin of their coffee in this way. In return, the producer should be able to achieve fair prices for his coffee. In the future, for example, a coffee farmer could register his products on site and provide information on the quality and quantity of the harvest. For each registered lot that the farmer sells through the blockchain, a block is created. The data of the created block can be stored and viewed throughout the journey of the product in the blockchain, are invariable and thus ensure a holistic transparent coffee supply chain.
Blockchain supply chain is in vogue
Meanwhile, the pilot project started in India is not the first project in the supply chain area . Some well-known projects such as Walmart , Modum or Blockchain in Transport Alliance in cooperation with UPS have been working on comparable systems for some time. In the future, blockchain technology could not only provide for an ecological and fair coffee cultivation and trade in India; it could revolutionize all delivery and tracking systems. However, the benefits of such blockchain supply chain systems are also under critical scrutiny. Issues such as control and verification of data, as well as the sense of discarding traditional, sometimes more scalable, systems are still hitting some critics of blockchain supply chain technology. In India, however, they are showing confidence for the time being.