Big coffee taps blockchain to attract Millennials

Giving support: For many farmers in Africa, building a digital track-record of production and income makes them bankable and open for micro-credit loans for the first time. — AP

Chicago: Sustainability-minded Millennials are increasingly demanding to know where their morning cup of joe comes from, and some of the world’s top coffee companies are turning to technology for help.

Roasters including J.M. Smucker Co and Jacob Douwe Egberts are joining a blockchain initiative by Farmer Connect, a startup backed by Swiss coffee trader Sucafina and developed in partnership with International Business Machines Corp. The technology will help firms trace the origin of the beans they buy and sell as well as their pricing along the supply chain.

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