With the bext360 solution, coffee farmers can move away from paper and receive instant digital payment for their products.
Most coffee farmers operate on a small scale, living on less than $2 a day. bext360 aims to make it easier for these farming communities to get a fair price, with instant payment for their beans at the farmgate. The solution utilises machine learning and artificial intelligence to source high-quality coffee products directly from the producer, and then employs blockchain technology to create a record of where the beans came from and who paid what for them. This process enables suppliers, retailers, and consumers to know that farmers at the bottom of the supply chain have been paid a fair price for that morning cup of coffee.
This solution was featured in Illuminating Supply Chains market of the 2018 Global Opportunity Report, and was selected based on the criteria of that report.
How the Global Goals are addressed
No Poverty
Sustaining a fair price for agricultural products, and fairly remunerating farmers for producing high-quality products, will help to lift coffee farmers out of poverty.
Gender Equality
Since most coffee bean harvesters and growers are women, bext360 helps to promote gender equality, giving women greater access to capital.
Reduced Inequalities
The coffee industry generates $55B annually, but only $7B reaches the world’s 25 million coffee producers. bext360 improves visibility for those at the bottom of the value chain.
Bext360
Bext360's goal is to utilise technology to improve the upstream supply chains of commodities and enhance sustainable practices for communities, consumers and the environment.
Global Goals addressed