In the supply chain management process, coffee farmers were never really involved. They were never the decision-makers. This is about to change as the Colombian-based company iFinca has launched its much sought-after app this week.
The iFinca app is the first blockchain-based platform to connect farmers to the coffee industry. It guarantees fair price to the coffee farmers and is designed to streamline coffee sourcing and delivery – from farm to the roaster and cafe.
Launched with the mission to support individual farmers in having a say in the supply chain management, the app also uses blockchain technology. Blockchain is used to verify purchases and increase efficiency across the supply chain process.
In existing system, participation by the farmers were limited and would never go beyond the organizational level. This is what iFinca aims to disrupt: by bringing farmers into the picture.
The CEO of iFinca, Alexander Barrett further comments:
“The supply chain begins at the farm, that’s why we’ve focused our energy on creating a platform to reach through to farmers.”
Not too long ago, iFinca received the Best New Product Award in Technology at this year’s Specialty Coffee Association Expo. The Best New Product award recognizes new products representing quality and adding value to the specialty coffee and tea industry.
As the company’s technology CoffeeChain validates transactions and connects coffee farmers to the supply chain, iFinca witnessed several benefits:
- The process demonstrated a verifiable increased returns in coffee’s price per pound — benefiting the farmers.
- Consumers were able to access the details about their coffee – including the price set by the farmers – after they scan the QR code.
In short: iFinca app is not only adding transparency to the coffee supply chain process but also helping farmers earn more.
