Tech giant IBM wants to help smallholder cocoa and coffee farmers in Honduras to access more markets through blockchain technology.
International Business Machines Corporation (IBM) is an American multinational technology firm headquartered in New York and operates in more than 100 countries. In collaboration with Heifer International, a global nonprofit that aims to eradicate poverty and hunger, IBM’s Food Trust will support farmers to verify their certifications, boost treatment processes, and much more through blockchain.
“For 18 months, we’ve worked alongside farmers to identify the best ways to improve production processes, digitize the value chain, and ultimately open market access to smallholder farmers so they can secure premium prices. As one of the first cooperatives in the world to deploy the system, COPRANIL is leading the way, equipping its farmers with the tools and technology they need to build and sustain profitable farm businesses.”Jesús Pizarro, Vice President of Financial Innovation at Heifer International
Those who will buy cocoa via Heifer Honduras’ project called ‘Chocolate4All’, will have the possibility to trace the origin of products through IBM’s Food Trust. This is a network leveraging blockchain to link and authenticate participants in a specific supply chain. Producers will also be assisted with producing high-quality beans.
“Our work with Heifer International and COPRANIL is an important test of how AI and blockchain technology can advance social good and support sustainability by helping even small-scale producers. With predictive AI working to help increase crop yield and blockchain establishing a record of provenance and proof of quality, these farmers are empowered with new data and insights so they can command more at market.”Kareem Yusuf, Ph.D., IBM General Manager AI Applications and Blockchain