EMURGO, the global blockchain solutions provider & a founding entity of Cardano, announces the launch of “EMURGO Traceability Solution” – an enterprise solution leveraging blockchain technology to modernize existing supply chain traceability standards, and bring added value to supply chain stakeholders & end consumers.
EMURGO Traceability Solution is the first blockchain-based enterprise solution developed by EMURGO’s Enterprise unit. EMURGO partnered with Blue Korintji Coffee – an environmentally-conscious Indonesian coffee brand – to be the first commercial enterprise to integrate EMURGO Traceability Solution in its coffee supply chain to benefit all stakeholders including farmers and consumers. This tailored solution in the form of a simple downloadable application, will leverage Cardano’s research-driven blockchain technology to provide transparency of purchasing prices between stakeholders and assure the immutability of accumulated private information. Fintech News
Coffee consumers will also be able to simply scan a QR code displayed in the coffee shop to access this information about the origin & traceability of their coffee. Starting from April 5th, Blue Korintji Bintaro – the company’s first established cafe branch in metropolitan Jakarta – will serve coffee to customers using EMURGO’s Traceability Solution and allow customers transparent access to the exact origin of their purchased coffee via QR code. Blue Korintji Coffee will commit to giving back to local coffee farmers by pooling a portion of sales revenue that have utilized this solution and invest into coffee production sustainability.
The global coffee bean supply chain industry and those with lesser resources are often the victim of opaque accounting standards and provenance measures, leading to unfair practices and consumer distrust. The Fairtrade Foundation states that “the coffee supply chain is complex as beans pass through the hands of growers, traders, processors, exporters, roasters, retailers until finally reaching the consumer” and that “most farmers have little idea of where their coffee goes or what price it ends up selling for.” [1]
In the case of Indonesia – the world’s fourth-largest coffee producer and exporter – 96% of the coffee produced is by small farms that lack the technological resources necessary to properly account for their coffee bean production, leaving farmers & consumers vulnerable to opaque data input by larger stakeholders in the supply chain that cannot be reliably verified. [2] The soaring demand for coffee in the urban landscape of Indonesia due to “a booming coffee-drinking lifestyle” has also recently seen the likes of international celebrity figures Jay-Z & Serena Williams officially making financial investments into the Indonesian coffee scene through their own venture capital firms, demonstrating the expansion potential of the local coffee market.
“EMURGO Traceability Solution is a breakthrough enterprise application providing a real solution to tackle inefficiencies in today’s supply chain industries. EMURGO is delighted to partner with Blue Korintji Coffee and integrate this solution, bringing a tangible real world application of blockchain technology to farmers, enterprises, and consumers, and shine light on the benefits the technology carries for everyone,” said Ken Kodama, EMURGO CEO.
“Blue Korintji Coffee is excited to partner with global blockchain technology solutions provider EMURGO, and offer an innovative tech solution that will improve the lives of local Indonesian farmers, businesses, and consumers,” said Budi Isman, Blue Korintji Coffee Founder.