Coffee lovers will now be able to track the origins of their beverage using blockchain technology.
Announced at the 2020 Consumer Electronics Show (CES) in Las Vegas on Monday, “Thank My Farmer” is a new mobile app for consumers from IBM and Farmer Connect. It allows people to trace their coffee to the source, revealing the quality and origin of each product. People will also be able to support the farmers who grow the beans.
Farmer Connect uses IBM’s blockchain technology to create transparency and works with several leading companies across the global supply chain, including Beyers Koffie, The Colombian Coffee Growers Federation (FNC), ITOCHU Corporation, Jacobs Douwe Egberts (JDE), The J.M. Smucker Company, Rabobank, RGC Coffee, Volcafe, Sucafina and Yara International.
IBM & Farmer Connect announce "Thank My Farmer" app, enabling coffee drinkers to trace their coffee's origin, understand its quality and even support the farmer who grew the beans – via blockchain.https://t.co/jR5jPqoDLN #CES2020 pic.twitter.com/SoS1OSd8IQ
— IBM News Room (@IBMNews) January 6, 2020
According to coffee statistics from the International Coffee Organization (ICO), people drink about 1.4 billion cups of coffee each day worldwide. In the US, Americans are pouring coffee at the rate of two to three cups per day, with consumers preferring to buy sustainably grown and responsibly sourced beans and blends.
Says David Behrends, president of Farmer Connect,
“Consumers now can play an active role in sustainability governance by supporting coffee farmers in developing nations. Through the blockchain and this consumer app, we’re creating a virtuous cycle.”
The new app will be available for the general market at the beginning of 2020, allowing users in the US and Canada to scan QR codes on 1850® brand premium single-origin coffee. European consumers will be able to access the app through a new single-origin brand, Beyers 1769, roasted at Beyers Koffie.
Consumers will be able to fund projects by supporting locals farmers as the app expands and more small growers join the platform in 2020.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/UfaBizPhoto