Jack Palfrey: Blockchain-Based Coffee Trade

Seeking economic justice in coffee trade

We wish to target the economic hardships of coffee farmers, who often receive less than their fair share of profit, with Blockchain technology. Our preliminary research shows that the more direct the relationship between end-consumer and farmer is, the more profits go to the farmers. Blockchain technology is already being used for global supply chains, and IBM has launched a similar project called “The Blockchain Bean.” Using Blockchain technology for supply chains has the potential to deliver higher quality end-products as well due to the transparency of the trade for the consumer.

Our project is a financial/economic research on the feasibility of the blockchain-based coffee trade in addressing the economic inequality/hardships involved in the coffee supply chain. We plan to partner with a few coffee importers/shops near campus (Aramark, George Howell Coffee Co., New England Coffee) to receive information on where and how they import their beans. If possible, we hope to create a cryptocurrency prototype or Decentralized Application (DApp) that can be used for demo coffee bean purchases to increase transparency and pursue economic justice in the coffee business.

Other Blockchain-Based Coffee Trade Lab Team Members: Igor Barakaiev and Harry Shin.

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