Application of Block chain Technology in Coffee Fair Trade
A technology company is using Stellar's blockchain network to provide a verifiable fair trade in coffee from growers to consumers, according to the hotcoin blockchain research center.
Bext360, a Denver-based startup, has created a robot that automatically evaluates the quality of coffee beans and uses blockchain technology to support cloud software and applications to track the sales process.
Daniel Jones, CEO of Bext360, said when discussing the current Fairtrade market with a technology blog. Generally speaking, groups engaged in fair trade spend a lot of money on tracking materials. They use a rudimentary tracking mechanism, which is very imprecise. "
Bext360's mobile robot is an important evaluation benchmark. It uses optical sorting to distinguish the quality of coffee beans and scores the quality of the same batch of coffee beans. Buyers and sellers can use the appropriate application to negotiate a reasonable price, and then track the goods deeply through the Stellar blockchain network.
"in this way, the benefits of fair trade, which are often talked about, can be realized, and with the blockchain, people can see everything, such as where these coffee beans come from." whether it was traded at a reasonable price, "Jones said.
According to the Fire currency blockchain Research Center, this concept has been widely accepted by investors, and its previous financing has received a total of $1.2 million in investment.
The successful implementation of this project is a great boon for Stellar, which expects more new and international applications to blossom and bear fruit.
Author: William Suberg
Source: https://cointelegraph.com
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