A startup called Bext360 wants to bring blockchain technology, which serves as the basis for Bitcoin trading, into the coffee industry of developing countries in order to create more transparency between farmers and buyers. The startup’s first “product” will be a kiosk, similar to a Coinstar change collection machine, that farmers can use to sell their beans. The system is designed to use smart image recognition technology to evaluate the crops being submitted at production facilities, which can assign a price and determine the identity of the person selling it. The farmers are then credited for their delivery via a mobile app, and a payment is delivered instantly to their digital “wallet”. The technology could mean more ready access to investment capital for the millions of growers—largely women—around the world.
Blockchain technology could bring fair-trade to the coffee industry
More of Today's Solutions
How citizen scientists are driving tangible change in Australia
Citizen science has evolved as a formidable force in conservation, propelled by regular people's passion and dedication to conserving our planet's irreplaceable ecosystems. Citizen ...
Read MoreMeet Dr. Wade: writer of thousands of Wikipedia pages for women scientists
Though the world has made some strides in gender equality, there is certainly still room for improvement, especially in the field of science, technology, ...
Read MoreArt preserves endangered flora in Himalayas—where conservation and culture co...
"In 2002, I was returning to Kalimpong in the eastern Himalaya region of India, and I found numerous trees had been cut down for ...
Read MorePrescribed thinning and controlled burns critical in preventing California wi...
A pioneering two-decade-long study done in California's Sierra Nevada mountains confirms the effectiveness of forest management strategies such as restorative thinning and regulated burning ...
Read More
