Coffee industry looks to improve sustainability

By Bufete Mejía & Asociados

Blockchain platform GrainChain has signed agreements with the Honduran coffee industry to deliver its commerce platform, PRNewswire informed.

"Growing coffee is such a widespread process with so many variables that it has traditionally been impossible to get people on the same page, which lowers trust across the entire supply chain," said Francisco Fortin, general manager of Confianza SA-FGR, a major insurance provider to the agriculture industry. "With GrainChain's blockchain platform, we can assure that all parties are able to participate in the product with much greater visibility and minimized risk through every step."

GrainChain is a platform that facilitates prompt payment to suppliers and farmers, and the immediate availability of tradable commodities to buyers. It attacks fraud and corruption through certification and accountability, and it streamlines procedures for all participants in the commodities market. Honduras is one of the world's leading producers of coffee, but the industry in the country has been in a state of crisis for the past several years due to falling prices and difficulties with sustainability.