TRC Specialty Commodities and iFinca use Blockchain CoffeeChain platform

TRC Specialty Coffee in collaboration with iFinca are working together. With CoffeeChain’s blockchain technology, consumers can now track their coffee to the producer on a platform designed to provide transparency and traceability in the coffee supply chain. This was reported by PR Newswire on September 1.

To better understand how this initiative works, they detailed: By scanning the „Meet the Farmer“ QR code, the mobile device directs to a branded or coffee destination page, which provides information on who grew the coffee and where. This reveals the supply chain involved. In addition, information on origin prices can be obtained.

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„This comes at a time when more consumers are choosing a social impact approach to their buying patterns and purchasing products that align with their values. According to iFinca for those who say that conscious consumerism is very important, 78% of the respondents are willing to pay a premium for ethically sourced coffee,“ explained from PR Newswire.

Jay Baxter, trader at TRC, commented:

„We know that our clients are increasingly demanding transparency in the supply chain; specifically, who the producer is and how much they received for their crop. We are committed to helping promote this as part of our coffee transparency strategy.

He then added:

„Our work with iFinca not only helps connect coffee lovers with the producers who provide their favorite beverage, but also gives them the opportunity to understand the monetary value the coffee farmer receives.

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Transparency and application
According to the PR Newswire publication, transparency is achieved by using the iFinca application and the impetus provided by the CoffeeChain platform to record, store and display data about events in the coffee supply chain.

„The information about these events is protected in an immutable ledger. iFinca does not sell or buy green coffee, it is an independent third party verification tool, which enables trust and accountability between the consumer, coffee producers and their supply chain partners,“ they specified.

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„Green coffee buyers can use the free iFinca application to easily view and request coffee samples. Containers landing in London and Hamburg include lots from the USAID and Coffee for Peace project,“ they concluded.

Veröffentlicht in: BTC