Friday 24 June 2022

TRC Specialty Coffee and iFinca use blockchain to bring together consumers and producers

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LONDON, UK – TRC Specialty Coffee in collaboration with iFinca is innovating a new wave in coffee transparency and traceability. Leveraging the CoffeeChain technology, consumers can now trace their coffee back to the coffee producer on a platform designed to provide transparency, traceability, and equality across the coffee supply chain.

By easily scanning the “Meet the Farmer” QR code their mobile device will route them to a brand or café landing page, which provides information about who grew the coffee and where, and discloses all the supply chain participates. They can also learn more about farm-gate prices. This comes at a time when more consumers are choosing a social-impact approach to their shopping patterns and purchasing products that align with their values. According to iFinca for those who say conscious consumerism is very important, 78% surveyed are willing to pay a premium for ethically sourced coffee.

“We know that our clients are increasingly demanding transparency in the supply chain; specifically, who is the producer and what amount did they receive for their crop. We have been committed to helping promote this as part of our coffee transparency strategy,” said Jay Baxter, trader at TRC. “Our work with iFinca not only helps connect coffee lovers to the producers who provide their favorite drink, it also gives them the opportunity to understand the monetary value received by the coffee farmer.”

This transparency is achieved by using the iFinca app and powered by the CoffeeChain platform to record, store and display data about supply chain events in the coffee’s journey. Information about these events is protected on an immutable ledger. iFinca does not sell or buy green coffee, it is an independent 3rd party verification tool, allowing for trust and accountability between the consumer, coffee producers, and their supply chain partners.

Green coffee buyers can use the free iFinca app to easily view and request samples of coffee. The containers landing in London and Hamburg include lots from the USAID and Coffee for Peace project.

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