Coffee farmers in rural Brazil will be able to use "coffee coins" for financing and purchase.
Professional coffee knowledge exchange more coffee bean information please follow the coffee workshop (Wechat official account cafe_style)
Coffee farmers in rural Brazil, through the plan of the Coffea arabica cooperative Minasul, will soon be able to use cryptocurrency to meet their daily needs.
Minasul is located in the state of Minas Gerais in southeastern Brazil, which is the world's largest coffee grower and exporter, and Minasul is one of the largest small fruit coffee bean cooperatives in the United States.
Jose Marcos Magalhaes, president of the large small fruit coffee bean cooperative Minasul, said in an interview at the Global Coffee Forum in Campinas, Sao Paulo, that the Minasul coffee bean cooperative plans to launch a blockchain-based cryptocurrency this month.
The encrypted currency will help farmers use "coffee coins" to buy fertilizers, machinery and other non-agricultural products, including cars and food, through the supply of coffee.
Magalhaes said that the stocks of fertilizers, machinery and other commodities for crops in Minasul cooperatives can guarantee the exchange of coffee coins and goods in the encrypted currency market. Allowing this type of cryptocurrency financing would "reduce costs for cooperatives and growers", he said, because it did not need to be registered through the offices of notaries.
Magalhaes added:
Farmers will be able to receive coffee coins based on coffee receipts in the current and future seasons. "
Among them, 30% of the current harvest, 20% of the crop harvest in the next season, and 10% of the seasonal harvest after that are eligible to be traded as coffee coins.
The project is part of a large digitization program carried out by Minasul cooperatives. The ultimate goal of the co-op is for farmers to sell their coffee beans directly from their smart phones.
The application of blockchain technology in agriculture is gradually increasing. Earlier this month, Etherisc, a decentralized insurance technology company, launched a blockchain-based insurance platform for Sri Lankan farmers, while Taiwan's new venture Odingdin worked with small farmers on the pool to jointly establish agricultural production performance through blockchain technology.
END
- Prev
Guatemala first uses blockchain technology for coffee bidding in 2019
Professional coffee knowledge exchange More coffee bean information Please pay attention to coffee workshop (Weixin Official Accounts cafe_style) According to Guatemala Coffee Association (ANACAFE), it has conducted Guatemala coffee bidding with blockchain technology for the first time on May 24 this year. A total of Guatemala 21 coffee plantations participated in this activity, with a total bidding amount of US $116,281. International purchase
- Next
Why is it that when the price of coffee beans collapses, it becomes more expensive for stores to sell cups of coffee?
More information on coffee beans Please follow the coffee workshop (official Wechat account cafe_style) if growers set a minimum price for coffee beans to help hard-working farmers get paid for their work, consumers may have to pay more for coffee. Dozens of coffee plantation owners from Brazil to Colombia want to limit buyers' access to coffee, according to the Wall Street Journal.
Related
- How to do proportional steps for 400 times of foamed coffee? What is the reason why espresso cannot foam?
- How does coffee break out of rich layers? Which is better, washed coffee beans or sun-dried coffee beans?
- What are the five ways to drink American coffee? What is the difference between American coffee and Long Black? How to make quicksand ice American style? How to pull flowers in American coffee? Can I take milk in American coffee?
- What's so good about Blue Mountain, which ranks first in the world's top coffee beans? What grade does Blue Mountain Coffee belong to? What are the characteristics and taste of Blue Mountain Coffee?
- How to draw flowers in American coffee? Can American coffee draw flowers? What is the principle of latte flowers? How to kill the milk foam of coffee flower?
- Is it better to use lightly baked beans or deeply baked beans for mocha pot coffee? How to use and make a mocha pot! What should I do if the Mocha pot has a splash problem?
- What does special coffee mean? What beans are the best to make special coffee? Do you make special coffee with espresso or cold extract? Why is specialty coffee the "cocktail" of the coffee industry?
- Coffee shop specialty American production ratio step by step tutorial KFC apple bubble American practice
- What is the difference between the foam of a latte and white cappuccino? How thick should Latte's milk foam be made? What's the difference between a cappuccino and an Australian white latte?
- The right way to drink espresso! How to drink coffee best? Do I have to gulp dirty coffee?