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đ„đ„đ„ US Company Settles #Salvadoran #coffee Purchase With #bitcoinâïž
Salvadoran Coffee Batch Sold for Bitcoin, Cutting Out Middlemen
Salvadoran coffee producers are embracing Bitcoin for cross-border payments, eliminating the need for intermediaries.
According to the Ministry of Foreign Affairs, U.S.-based Compass Coffee purchased a batch of Salvadoran coffee using Bitcoin, allowing producers to receive fair prices directly.
This marks a significant step in using Bitcoin for commodity transactions. Salvadoran Ambassador to the U.S., Milena Mayorga, highlighted how the use of Bitcoin ensured competitive prices for producers without third-party cuts. She also emphasized that businesses across El Salvador can use Bitcoin for such transactions.
Jorge Cruz, a local coffee producer, revealed that the price obtained was two to three times higher than typical U.S. market quotes. The transaction was completed in under 10 minutes using Bitcoin, after an initial test batch had been sent to verify quality and approve pricing.
This deal followed a series of 2022 meetings between the Salvadoran Foreign Ministry and Compass Coffee to bring Salvadoran coffee to U.S. buyers. Compass Coffee COO, Chas Newman, praised the Salvadoran Embassyâs efforts in facilitating connections, helping local producers grow in the U.S. market. Compass Coffee also plans to enable direct Bitcoin tips to the producers from coffee buyers.
Source - news.bitcoin.com
#BinanceSquareBTC #CryptoMarkets
Salvadoran Coffee Batch Sold for Bitcoin, Cutting Out Middlemen
Salvadoran coffee producers are embracing Bitcoin for cross-border payments, eliminating the need for intermediaries.
According to the Ministry of Foreign Affairs, U.S.-based Compass Coffee purchased a batch of Salvadoran coffee using Bitcoin, allowing producers to receive fair prices directly.
This marks a significant step in using Bitcoin for commodity transactions. Salvadoran Ambassador to the U.S., Milena Mayorga, highlighted how the use of Bitcoin ensured competitive prices for producers without third-party cuts. She also emphasized that businesses across El Salvador can use Bitcoin for such transactions.
Jorge Cruz, a local coffee producer, revealed that the price obtained was two to three times higher than typical U.S. market quotes. The transaction was completed in under 10 minutes using Bitcoin, after an initial test batch had been sent to verify quality and approve pricing.
This deal followed a series of 2022 meetings between the Salvadoran Foreign Ministry and Compass Coffee to bring Salvadoran coffee to U.S. buyers. Compass Coffee COO, Chas Newman, praised the Salvadoran Embassyâs efforts in facilitating connections, helping local producers grow in the U.S. market. Compass Coffee also plans to enable direct Bitcoin tips to the producers from coffee buyers.
Source - news.bitcoin.com
#BinanceSquareBTC #CryptoMarkets
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STARBUCKS ACCEPTING BITCOIN AS PAYMENT IN EL SALVADOR
STARBUCKS ACCEPTING BITCOIN AS PAYMENT IN EL SALVADOR
Exploring Blockchainâs Impact on the Coffee Supply Chain!
From Bean to Brew: Blockchain Brewing a Revolution in the Coffee Industry
The Blockchain world has a great advantage to the agriculture industry which helps the old industry reach a new sky. Everything related to data and transactions can be enhanced with traceability, security, and speed. All of these features and benefits can transform agriculture and help it. Decentralized ledger technology (DLT) can be mixed with other innovative tech solutions, including machine learning, Internet of Things (IoT) devices, artificial intelligence (AI), satellites, and drone imagery, for the benefits.
The adoption of blockchain can help farmers to increase customer and stakeholder trust. Tracking the origin and transportation of a product can be done easily, with the blockchain providing an unmatched level of security for data storage and sharing. So, traceability can transform insurance processes, speeding up processes that can take months. One of the most active agricultural sectors adopting the technology is the coffee industry which is expected to reach global revenues of $541 billion by 2025. And promoting blockchain can help boost revenues.
Indonesia is the fourth-largest coffee producer in the world. Coffee plantations cover more than 1 million hectares of the countryâs territory, with over 90% of the land cultivated by small-scale producers. Solok Radjo, a cooperative of over 3,000 coffee farmers based in West Sumatra, is using blockchain thanks to a partnership with Dimitra, a global AgTech firm.
Crypto Scope - Transforming Agriculture with Blockchain: Empowering Farmers and Boosting Revenues.
Dimitra Incorporated is a global Agtech company with a mission to help smallholder farmers across the world. The Dimitra platform is built on blockchain technology and incorporates mobile technology, machine learning, IoT devices, satellite and drone imagery, genomics, and advanced farming research. Dimitra believes that every smallholder farmer, regardless of economic standing, should benefit from simple, beautiful, and useful technology. Solok Radjo uses Dimitraâs Connected Farmer and Connected Coffee applications. These user-friendly solutions help coffee farmers improve the value chain by streamlining data collection and sharing, quality assurance, coffee processing, cupping, and more.
Solok Radjo implements food safety and growing requirements to be ready for its export markets, including the United States, Australia, and Europe. This increases profitability, helps with exports and benefits thousands of local farmers. Thanks to its partnership with Dimitra, Solok Radjo is a forward-thinking agricultural collective that uses eco-friendly farming methods to cultivate their crops. Dimitra offers blockchain and tech solutions for different agricultural sectors worldwide. The application incorporates multiple module components, including My Farm, My Crops and My Livestock.
CryptoScope by Morfolabs â€ïž
#blockchains #supplychain #coffee #technology #morfolabs
The Blockchain world has a great advantage to the agriculture industry which helps the old industry reach a new sky. Everything related to data and transactions can be enhanced with traceability, security, and speed. All of these features and benefits can transform agriculture and help it. Decentralized ledger technology (DLT) can be mixed with other innovative tech solutions, including machine learning, Internet of Things (IoT) devices, artificial intelligence (AI), satellites, and drone imagery, for the benefits.
The adoption of blockchain can help farmers to increase customer and stakeholder trust. Tracking the origin and transportation of a product can be done easily, with the blockchain providing an unmatched level of security for data storage and sharing. So, traceability can transform insurance processes, speeding up processes that can take months. One of the most active agricultural sectors adopting the technology is the coffee industry which is expected to reach global revenues of $541 billion by 2025. And promoting blockchain can help boost revenues.
Indonesia is the fourth-largest coffee producer in the world. Coffee plantations cover more than 1 million hectares of the countryâs territory, with over 90% of the land cultivated by small-scale producers. Solok Radjo, a cooperative of over 3,000 coffee farmers based in West Sumatra, is using blockchain thanks to a partnership with Dimitra, a global AgTech firm.
Crypto Scope - Transforming Agriculture with Blockchain: Empowering Farmers and Boosting Revenues.
Dimitra Incorporated is a global Agtech company with a mission to help smallholder farmers across the world. The Dimitra platform is built on blockchain technology and incorporates mobile technology, machine learning, IoT devices, satellite and drone imagery, genomics, and advanced farming research. Dimitra believes that every smallholder farmer, regardless of economic standing, should benefit from simple, beautiful, and useful technology. Solok Radjo uses Dimitraâs Connected Farmer and Connected Coffee applications. These user-friendly solutions help coffee farmers improve the value chain by streamlining data collection and sharing, quality assurance, coffee processing, cupping, and more.
Solok Radjo implements food safety and growing requirements to be ready for its export markets, including the United States, Australia, and Europe. This increases profitability, helps with exports and benefits thousands of local farmers. Thanks to its partnership with Dimitra, Solok Radjo is a forward-thinking agricultural collective that uses eco-friendly farming methods to cultivate their crops. Dimitra offers blockchain and tech solutions for different agricultural sectors worldwide. The application incorporates multiple module components, including My Farm, My Crops and My Livestock.
CryptoScope by Morfolabs â€ïž
#blockchains #supplychain #coffee #technology #morfolabs
