Yesterday, agricultural blockchain firm GrainChain announced it signed agreements with stakeholders of the Honduras coffee industry to unite them on its platform. GrainChain is backed by Medici Ventures, the blockchain unit of Overstock.com, having
raised $2.5 million from the company last year.
Coffee is one of the leading exports of Honduras. About 20% of the country’s population is
dependent on coffee for their livelihood. The coffee supply chain involves several stakeholders. It becomes nearly impossible to keep track of the various processes leading up to the packaging of coffee for sale.
“Growing coffee is such a widespread process with so many variables that it has traditionally been impossible to get people on the same page, which lowers trust across the entire supply chain,” said Francisco Fortin, general manager of Confianza SA-FGR, an insurance provider to the agriculture industry.
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