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Coffee Company Uses Blockchain Technology To Return Some Of The Purchase Price To Farmers

July 3, 2018: 12:00 AM EST
According to fledgling coffee brand Token, the majority of the world’s 25 million smallholder coffee farmers have a tough time covering the cost of production, let alone accounting for social and environmental costs. Token hopes to remedy that problem by using blockchain (distributed ledger) technology to connect coffee drinkers in the West with the communities that produce the coffee. Each package of Token coffee contains a token worth $0.59 – an amount the company says it is willing to spend on marketing. Buyers can take the money to blockchain-based platform KrypC Technologies to use as a discount on coffee, or as an investment in Token or the farmers that produce their coffee. The Token initiative is a partnership with the FairChain Foundation and the FairChain roaster Moyee Coffee.
"Blockchain coffee: Token builds a “community-owned” coffee brand", Food Ingredients 1st, July 03, 2018, © CNS Media BV
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