The Coffee Board of India has collaborated with a global digital commodity management platform called Eka Plus in order to develop a blockchain application. The Indian Ministry of Commerce and Industry (MCI) has made the announcement of the application on March 28, 2019.
The main purpose of the application is to help farmers or coffee growers with a transparent market. It is stated that various layers between the farmers or coffee growers and buyers can be reduced through the blockchain and therefore the farmers or coffee growers can increase their income. The application can’t just provide the transparent market and reduce those layers but also provide a traceability feature. Customers can trace Indian coffee from bean to cup through the feature.
Registration on the blockchain application is already done by a group of 15-20 coffee farmers, importers, exporters, retailers, roasters from India and abroad as well. Credentials such as coffee cultivation places, crop details, elevation, certificates which farmers or coffee growers have to provide during registrations.
Every time a farmer or coffee grower makes a transaction, a new block of the transaction will be created. The information in the block is immutable and stored on the Blockchain.
Coffee is cultivated, handpicked and sun-dried in India. Indian coffee is cultivated by those tribal farmers who live near to National Parks and Wild Life Sanctuaries in the Western and Eastern Ghats and those coffee growers which work on small-scales.
Eka Plus is designed to break that Commodity Trade Risk Management (CTRM) software which is monolithic. CTRM break can be done into modular and bite-sized chunks. Eka-based solution is a cloud-based solution created to meet the growing needs and requirements of businesses. The solution is not only powered by the cloud and the blockchain but also machine learning (ML) and analytics, according to the official website of Eka Plus.
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