Bext360 and Moyee are two companies that deal in coffee exportation. These companies have recently come together to try to use blockchain technology to address the issue of exporting unprocessed coffee in Ethiopia. According to a report, ……Coffee otherwise called the Green Gold had been generating up to 70 percent of the country’s foreign earnings on average. This export share has been dwindled to nearly 30 percent as other agricultural items injected into the international market. Currently, with this export amount, the nation have earned over 866 million USD during this fiscal year… However, the country would have earned $2.7 billion if coffee was roasted, packaged and branded in Ethiopia. This is as a result of its corrupt supply chain.
The blockchain based platform will have full records of transactions from the farming to process and supply chains using cryptography which are trusted and secured. This is because the blockchain cannot naturally be modified without subsequent blocks being altered. Blockchain removes the middle man and encourages trust because consumers know exactly what they are drinking, and where it has come from.” Moyee will pay farmers a 20 percent premium which is meant to be a good start towards giving them a better wage. “This is the next big step in a coffee revolution,” said Moyee’s Co-Founder, Guido van Staveren…… “Our platform changes things entirely. Crypto tokens enable us to pay farmers immediately and directly. Smart technology is being used to benefit the men and women who produce our coffee.” Moyee’s partnership with Bext360 comes weeks after Starbucks announced they would be launching a pilot program known as “traceability technology” that will utilise blockchain technology into its coffee supply chain.