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
It’s kitten season! How to help overwhelmed shelters manage the influx of kit...
Kitten season has arrived, bringing with it an irresistible wave of feline cuteness. However, behind the scenes, animal rescues and shelters are dealing with ...
Read MoreHow to cut down on your food waste
Cutting down on food waste helps the environment in a number of important ways. Most obviously, it saves the resources and energy that go ...
Read MoreHow to keep an eye on your eye health
As we age, we can become more vulnerable to developing age-related eye conditions, diseases, and vision loss. The best way to stave off, or ...
Read MoreCRISPR-Cas9 may be able to solve obesity
Cases of obesity have been steadily increasing worldwide, especially during the pandemic. Lack of physical activity through more office-based jobs, plus a lack of ...
Read More
