Blockchain Traceable Coffee Tapped By Bext360, Moyeebr>
Bext360 develops technologies to streamline critical supply chains in emerging economies. Its “bext-to-brew” platform utilizes IoT, blockchain, machine vision and artificial intelligence to transform the supply chain, bringing more transparency to the process. The bext360 platform enables farmers, roasters, and consumers to access data across the entirety of the supply chain to identify supply chain inefficiencies and allow more compensation to farmers who produce higher-quality coffee cherries, providing more visibility for consumers.
Based in Amsterdam and Addis Ababa, Moyee Coffee is on a mission to transform global coffee into a radically fairer and more transparent industry. All of the value-added aspects of Moyee’s coffee production take place in Ethiopia, including roasting in the country of origin. A cult coffee brand in The Netherlands, Moyee recently introduced its coffee to Ireland.
During the four-month blockchain project, Moyee will source coffee from Ethiopia using Bext360’s blockchain to provide proof of living-wage payments made to farmers. The financial traceability will be made available to Moyee’s retail and wholesale customers in Europe. All of the coffee information — from origin, quality, to purchasers to payouts — will be recorded on a blockchain in bext-to-brew platform.
“Coffee production is notoriously complex and involves countless middlemen, each taking a piece of the pie along the way. Coffee farmers and producing economies are always at the short end of the stick,” said Moyee Coffee Ireland co-founder Shane Reilly. “Currently, only 2% of the added value of every cup of coffee ends up in the pockets of coffee producers.”
“Blockchain has the potential to turn the global coffee industry on its head,” said Killian Stokes, co-founder of Moyee Coffee in Ireland. “Our partnership with bext360 makes Moyee the first European coffee maker to introduce fully blockchain-traceable coffee.”
“This partnership signifies a significant step towards fulfilling our vision of using the most cutting-edge technology to bring consumer and farming communities together to improve product quality, community livelihoods, as well as the consumer coffee experience,” said Daniel Jones, bext360 founder and CEO.