Have you ever felt that you work a lot but someone else gets all the recognition? Well, that’s exactly what happens to 25 million coffee growers around the world. They work hard to produce our beloved beverage but their earnings are much lower than the rest of the players in the value chain. Currently, they earn less than 5% of the added value of each cup of coffee.
Due to agroclimatic conditions, coffee is produced in just 45 countries around the world, those countries in and near to the equator, and it travels thousands of kilometers to get to the main consumers in Europe and North America. All the activities that generate value (roasting, packaging, marketing and sales) are made outside the producing countries, hence jobs and profits are exported out along with the beans. The coffee value chain is not only extremely complex and involves lots of hands, but it is also completely unfair.
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Blockchain is a technology that permits to record each transaction in the value chain in a secure way. Imagine it as a secure open book where everyone can read and verify the transactions written on it. With blockchain comes a new level of transparency: farmers, roasters, buyers and consumers can be fully aware of the entire coffee’s journey.
More importantly, blockchain permits to shift the value to where it belongs, and to share that value with those who contribute to create it. Blockchain enables farmers to earn a fair price for the coffee they produce and get the recognition they deserve. Fantine’s blockchain solution represents a giant step towards fairness and transparency in this industry that silently fuels our day-to-day creativity, energy and confidence.