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17/10/19 06:28 UTC-5

The UN and blockchain helps the production of chocolate bars

OtherUN and blockchain for the production of chocolate bars
UN and blockchain for the production of chocolate bars

The United Nations has partnered with Dutch the NGO the FairChain Foundation to launch blockchain-based chocolate manufacturing. The project should help increase earnings for farmers who have not received fair financing for many years.  

BlockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
to help farmers

Partners will release new chocolate bars from Ecuadorian cocoa, the cultivation of which will be based on tokens. This will allow consumers to take part in the production, as each chocolate bar called “The Other Bar” will have a QR code inside the wrapper that consumers can use to donate the tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
to farmers. Also, the code will show how much the farmer was paid for cocoa for a particular bar and the coordinates of the tree from which the grain was collected. The idea came about because with the world chocolate industry of $92 billion, those who create the basis of production – growing cocoa beans receive 3%, which is often not enough to live on.

The FairChain project aims at a price of €3080 per metric ton of cocoa for farmers, while commercial buyers pay approximately €1721.

FairChain Foundation founder Guido van Staveren said that:

“The whole idea is to use technology to influence consumer behavior, and, in fact, turn every product into an engine of capitalism.”

Each of the codes in “The Other Bar” is a quarter less than the cost of a cocoa tree. Donations will be used to plant new trees, and consumers will be able to track the result using the data recorded on the blockchain.

It is worth noting that the UN is considering many options for using blockchain technology - from using Ethereum to transfer cryptocurrency coupons to Syrian refugees to a blockchain-based digital identification system designed to combat child trafficking around the world.

  • For most of its existence, the Bitcoin community (BTC) believed that cryptocurrency would be a viable alternative to the many centralized payment systems on the market. However, BTC is currently primarily used as a long-term investment – an asset like gold or stocks. But still, gradually large companies begin to master the adoption of Bitcoin as a legal way to pay for goods and services around the world

See also: "EY has launched a new blockchain solution for governments around the world"

#UN #blockchain #chocolate #cocoa #Ecuador #farmers #financing

Editor: Alyona Deryabina
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