Blockchain technology has continued to grow as many organisations look to utilize its benefits in different sectors. Recently the Coffee Board of India announced that it had launched a blockchain initiate for its members.
The blockchain product is aimed towards connecting coffee producers to their end consumers which would eliminate the number of intermediaries. The Blockchain app is also going to serve as a means of increasing transparency and traceability of coffee products in the country.
According to reports from India the application is expected to be launched in a trial period where it would be limited to a handful of coffee growers. This would then be extended to other coffee growers after successful testing.
Why Is Vechain The Best Platform For The Coffee Blockchain Application
This move by India is a step in the right direction, however, the application would be more effective if adopts te Vechain platform.
Vechain (VET) has garnered a reputation within the crypto community as a suitable blockchain for traceability of products within a manufacturing supply chain. The blockchain platform is flexible and allows for the use of RFID tag, NFC chip or QR code.
This would help the over 300,000 coffee growers in the country to assign a unique ID to their coffee batches and store them on its blockchain network. This would help the coffee grower to know where and what type of condition their product is in before reaching the end user.
Vechain (VET) Has A Record Of Adoption In The Manufacturing Industry
Vechain (VET) also provides services within the food industry which can be harnessed by within the application. India wants to reduce counterfeiting and increase food safety within the coffee industry.
Utilising Vechain is a no-brainer as China has also jumped on the blockchain platform in a bid to curb vaccine counterfeiting in the country. It could be a while before cryptocurrency is embraced wholeheartedly in India.
The coffee growers can also utilize its platform to receive payments in cryptocurrency which as an advantage over traditional fiat currency as transactions are faster and safer within its platform.
Lastly, Vechain (VET) is a tested and proven technology in the manufacturing industry for tracking and sharing data as all the information about the coffee from manufacturing to distribution can be easily accessed on the platform.