As per the latest Reuters report, an Ugandan-based Company, Carico Café Connoisseur has successfully implemented blockchain technology into its Coffee business to elevate the trust among their customers. The Company aims to flourish its business by embracing blockchain technology enabling food trust and also visions to uplift the lives of small scale farmers by purchasing coffee beans from them.
Ugandan Coffee Business
Uganda earns a major portion of income by exporting coffee worldwide. The Country grows special robusta coffee in the Kampala forest area, which comes with low acidity and high bitterness.
Uganda is also famous for Arabica coffee, introduced by Ethiopia. Arabica coffee is considered to be the first coffee to be cultivated and these coffee species constitute of majorly 60% of the overall coffee cultivation in the World. These are grown around the slopes of Mount Elgon.
Robusta coffee is cheaper to produce as it demands low maintenance efforts and produces a greater crop yield than Arabica coffee. Crop production and revenue from the same were taken in economic agenda points to execute. Hence, the production of coffee had surpassed estimations in 1989, but due to some economic and security issues, the lots were not used for exporting. The Country remained low in foreign investments due to the same national instability that prevailed during that period.
Coffee Revenue for Uganda started cumulating after the formation of the Uganda Coffee Development Authority in 1991.
Embedding Trust in Customers
Blockchain technology which is the underlying technology behind the cryptocurrencies and other industrial use cases linked with DLT (Distributed Ledger Technology). Many Companies have already understood and started adapting this technology leading to higher efficiency in the overall system.
As all the transactions happening in the system are automatically recorded on the ledger which is shared among the network members, each member is aware of each and every change occurring in the system in real time. In the context of Carico Café Connoisseur, the Company aims to show the retraced path or the source of the coffee to the customers initiating food trust.
For example, any customer coming to the Cafe can have a look at the life cycle of the coffee product starting from the farm, just by scanning the QR code attached over the product using a mobile device. And customers do pay higher prices when they find genuine products.
This, in one way, also leads to an increase in the farmer’s pay. The Company makes its coffee purchases from small scale farmers and co-operatives across East Africa. It wishes to make a difference in the lives of the farmers across Africa with this initiative. As the coffee beans are cultivated and harvested the natural and sustainable way, the Company produces the finest coffee products with those beans.
In a nutshell, the Company aims to create trust in the customer mind thereby elevating the sales number to a greater extent. The customer will be availed with the entire life cycle of the coffee bean straight from the farm. As the data is highly secured with hash codes and other advanced security features, there are fewer chances of the data to have tampered.
Blockchain Stocks has not been paid to mention any stock /company within this article nor do we own any stock in any company mentioned in this article. More information about our full disclosure can be found here – Full Disclaimer.