Current Affairs

Blockchain Based E-Marketplace App For Coffee

The Ministry of Commerce and Industries has launched a blockchain based e-marketplace app for coffee.
  1. Ministry of Commerce and Industries launches Blockchain Based e-marketplace app for Coffee

Details:

  • The e-marketplace helps farmers integrate directly with markets in a transparent manner, allowing them to realize fair prices for their produce. 
  • The blockchain technology will help in reducing the number of intermediaries between coffee growers and buyers and help farmers double their income. 
  • The blockchain-based marketplace app for trading coffee brings transparency and maintains the traceability of Indian coffee from bean to cup.
  • The blockchain-based marketplace app by facilitating direct access to buyers, it will reduce growers' dependency on intermediaries and help them get a fair price for their produce.
  • The coffee board has collaborated with Eka Plus for the development of the app. 

One must know:

  • India produces one of the best coffees in the world and a considerable portion of it comes from small coffee growers and tribal farmers.
  • Although Indian coffee is highly valued in the world market, the share of farmers in the final returns from coffee is very low.
  • The Blockchain Based e-marketplace app is expected to help farmers in gaining higher returns.

Question:

Q. The Ministry of Commerce and Industries has launched a blockchain based e-marketplace app for which product?
a. Coffee
b. Tea
c. Mango
d. Rice

Answer to the above Question is "a"
Blockchain Based E-Marketplace App For Coffee Blockchain Based E-Marketplace App For Coffee Reviewed by Surbhi on April 01, 2019 Rating: 5

No comments:

Join 8,000+ readers and get free notes in your email