A Brazilian coffee cooperative has developed an interesting crypto plan. The coffee farmers in Brazil could therefore live their daily lifes with cryptocurrencies. What’s up with the coffee-based tokens? And could the Coffee Crypto Coin bring a lasting change for the world’s largest coffee grower and exporter?
Coffee and crypto
The coffee cooperative Minasul is planning the introduction of a virtual coin on Blockchain basis. The coffee token plan is being implemented as part of a larger digitization effort by Brazil’s largest Arabica coffee cooperatives. Soon, the digital coins could be used based on appropriate stocks. The coin is meant to help the farmers to buy fertilizers, machinery and other non-agricultural products of daily use. One hopes that it will save them time and cost.
To get the coffee coins, the farmers would then have to turn to the digital marketplace of Minasul. The coffee farmers are said to be able to exchange up to 30% of the current harvest, 20% of the next harvest and 10% of the subsequent harvest for the coffee coins. In the long term, this could result in a not inconsiderable financial benefit – if the company’s plan is successful.
The largest Arabica coffee cooperative goes crypto
The coffee-covered token could lower the operating costs for the cooperative and the farmers themselves. After all, no follow-up costs are required through a notarial registration for the coins. The sale of the harvest could thus also be possible via smartphones. Could the future of crypto coffee actually go through financial apps?