The Blockchain Technology in Coffee Industry can be beneficial as it’s the technology for the proper management of data as well as transactions.
The main benefit of this technology is that it’s tampering is not possible. Due to this, it has become widely popular amongst various industries.
How to bring Fair Practices using Blockchain Technology
In the present article, we are going to explain the ways to use Blockchain Technology in Coffee Industry.
There are plenty of benefits of deploying the blockchain technology in any industry. We just require thinking about the possibilities and it’s proper application.
How to use Blockchain Technology in Coffee Industry?
The blockchain technology in Coffee Industry can function with the three simple steps i.e. Collect, Analyze and Pay. First of all, they have to collect the coffee beans from the suppliers.
Next, they will require analyzing the crop, it’s quality and various other features. Once everything is checked properly, they can proceed with the payment.
Below given is the description, How one such organization Bext Holdings Inc. is utilizing it.
Establishing the machine in the communities
The coffee beans come from the farms. Therefore, it will be beneficial if one establishes the machines nearby the farms. This will eliminate the issue of traveling to distant places just to get the coffee beans checked.
Having one such machine in a village or a group of few villages will be enough. Such machines are having excellent photography technology. Using the photographs, one can easily determine the quality of beans.
The farmer goes to such machines and shows the beans to the operator sitting there. He clicks the photographs of the beans and sends it to the buyer.
The main benefit of blockchain is that one cannot change the data inserted into it. Hence, the buyer will look at it and the system fixes the price of the beans.
Assigning the tasks to Small Enterprises
The task of handling the machines shall be assigned to the small enterprises. This will help in preserving the transparency of the system. It might happen that the farmers might not know the way to operate the machine.
Moreover, possibilities are there for frequent usage of same data. Therefore, the task of handling the machine should be assigned to the small enterprises.
It will also generate another way of employment. Apart from that, it will also help in bridging the gap in between the buyer as well as a seller. In this manner, there wouldn’t be trust issues from either end.
Development of Payment Method Through Banks
The banks have to play a major role in the establishment of this system. As soon as the farmer records his crop, the total payment to be made will be recorded.
Once it is set, there is a system of secure payment gateway using which the buyer can make multiple payments with a single click.
Therefore, before applying Blockchain Technology in Coffee Industry, one must also gain the support from the bank.
Functions Blockchain Technology in Coffee Industry
After getting familiar with the operating of the system in the coffee industry. Here are some of the functions which one can carry out with the use of a blockchain technology.
Kindly have a glimpse of these functions and know about them in brief.
Supply of Good and Sustainable Quality Beans
As the cost of the coffee beans will be decided as per their quality, the farmers will have to continuously supply them with better quality beans. Sustainability is the main concern when it comes to coffee beans.
Using Blockchain Technology in Coffee Industry will ensure delivery of better beans.
Determining the cost of Coffee Beans
Deciding the cost of the coffee beans consumes much time in the conventional methods. But, when using Blockchain Technology in Coffee Industry the system automatically detects the cost of the beans.
Therefore, the farmers will be getting better price of their crop as much as it deserves.
Time to Time Payments to Suppliers
The system of Blockchain technology is having an excellent face recognition system. Due to this, it won’t be a trouble determining to whom we have to make the payment.
The small enterprises will record the bank data of the farmers i.e. suppliers into the system. Hence, when there will be the requirement of making the payment, no ambiguity will be there.
This assures the delivery of the right payment, to the right person at the right time.
Benefits of using Blockchain Technology in Coffee Industry
The utilization of Blockchain Technology in Coffee Industry opens the door for many possibilities. Here are some of the main reasons why you should start using blockchain technology right now if you own a coffee industry.
Fair Price of Crop
In the blockchain technology, determining the type of crop is very much easier. Therefore, there wouldn’t be clashes regarding the price of the crop at any time.
The system decides the rate of the crop in such a way which benefits both the buyer as well as the seller. In this manner, the fair price of coffee beans is delivered to them.
Easier Payment Method
In order to establish a well-efficient payment system, there is a requirement to obtain support from the bank’s end. The system determines the farmer with the use of face recognition system.
Hence, the crop which he will submit, it’s rate will be decided. All the payments to be made will be recorded on a sheet.
Whenever the buyer decides to make the payment, he just has to check the list and deposit the payment in the account as per his own convenience.
Simple Tracking Procedure
The blockchain technology system features a simple tracking procedure. It is pretty easy to track that from when the crop came, the status of an order, the farmer who sold a specific coffee bean and so on.
With such kind of characteristics, it brings out transparency into the system. Moreover, it also makes people function properly and deliver quality products.
We hope, till now you might have got familiar with the application of Blockchain Technology in Coffee Industry.
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