June 19, 2018
Using Blockchain, Token Aims for World’s First Community-Owned Coffee Brand
AMSTERDAM – The new coffee brand Token was created to become the world’s first truly end-to-end blockchain-enabled coffee. An initiative by FairChain Foundation, and supported by FairChain roaster Moyee Coffee, Token uses blockchain technology to directly link Western coffee drinkers with the communities that grow and roast their beans. “Blockchain technology makes the enormous inequality in the coffee chain transparent to consumers. Token embraces this transparency to offer a solution,” says FairChain founder Guido van Staveren. “By inviting consumers to be part of our business model, Token is a giant leap towards securing living incomes for smallholders. At no extra cost to consumers. It’s about distributing the value equally to all.”
The current coffee chain is dominated by a handful of Big Coffee companies that invest billions in branding but little to nothing in the farmers. But the fact is, most of the world’s 25 million smallholder farmers can barely cover their production costs, let alone account for social and environmental costs.
Many brands – coffee and other foods – believe that blockchain can bring the transparency and efficiency required to change this system. However, while most brands are exploring blockchain with small pilots, Token is the first fully end–to–end–blockchain–powered coffee brand.
End-to-end blockchain coffee
Van Staveren: “Token is going all-in. With our first run of 60,000 kilograms of smallholder-produced and blockchain-traceable coffee, we want to offer serious proof of concept that a shared value chain is possible. We’ve been talking long enough about living incomes for farmers. With blockchain we now have the tool! Why wait?”
Token was born out of a collaboration between Bext360, Moyee Coffee and FairChain Foundation, three purpose-driven organizations focused on disrupting the global coffee industry. By combining blockchain technology and on-the-ground know-how, they are introducing radical transparency in a sector notoriously lacking it. Their blockchain system shows who earns what along each step of the global coffee chain, enabling both consumers and brands to identify inefficiencies and eliminate unnecessary middlemen. It also sets the stage for redistributing the value more fairly across the entire chain.
“Blockchain isn’t just about traceability and transparency, it’s also about ownership. Who owns the coffee? Who deserves the biggest share of the wealth?” says Van Staveren. “Token empowers our community to answer these questions and choose for themselves.”
Real Community-Owned Coffee
“Blockchain is an incredible technology, but despite it being a big buzzword few people know what it actually means,” says Mark Kauw of FairChain Foundation. “Token gives people the opportunity to experience blockchain, not just talk about it.”
To make the benefits of blockchain more tangible to consumers, each bag of Token coffee comes with, you guessed it, a token. Each token is worth €0.50 cents, which, Van Staveren claims, is the amount Token is willing to spend on marketing, a fraction of what a typical brand spends, and these euros are spent on the crowd. Token drinkers can take that money to KrypC Technologies, a blockchain-based platform created for Token, and decide how to invest the money – in themselves through discounted coffee, in the brand Token or in the farmers and families that produce their coffee.
“Blockchain creates new economic opportunities. Instead of sticking the savings in our pockets, as most brands would, we’re giving it to the people that matter most: the farmers and the coffee drinkers. Token empowers people to invest the money blockchain saves them. We have no influence as a brand, we’re just a facilitator. How they invest is entirely up to them.”
Pre-order Token now
The first batches of Token will premiere this summer at the European Coffee Federation, the European B-Corp Summit, World of Coffee and De Parade (all locations). Limited edition 250g packages can already be pre-ordered through Token’s channels, to be announced Thursday 21 June noon CEST. Those first 100 owners that invest earn special ‘Tokens of appreciation’ and will be invited to fine–tune Token’s taste profiles.
Van Staveren: “They will be Token’s first CEOs!”
For more information about Token please contact firstname.lastname@example.org or head to fairchain.org/blockchainforgood.
About The FairChain Foundation
The FairChain Foundation has the mission to stimulate and support business models that contribute to a truly fair distribution of the wealth amongst all parties in the value chain. The FairChain Foundation was an early supporter of Moyee Coffee, for example, encouraging the company to pay farmers a so-called 20% FairChain premium that went above and beyond Fairtrade premiums. The FairChain Foundation was also the first to embrace the transparent platform set up by Denver, Colorado-based blockchain disrupter Bext360, which is quickly becoming the benchmark in the coffee industry as a tool to move beyond certification and worked with KrypC on the current system that drives value from individual consumers to coffee farmers via blockchain. http://fairchain.org
About Moyee Coffee
Moyee is a specialty coffee roaster and FairChain company. Roasting locally is the driving spirit behind Moyee’s FairChain coffee aiming at leaving not 10 but 50% of the value in the coffee chain in country of origin. For more information, please visit: www.moyeecoffee.com
Bext360 develops technologies that strengthen local businesses and communities in emerging economies by increasing access to capital and streamlining critical supply chains. Bext360’s platform revolutionizes supply chains with IoT, blockchain, machine vision and artificial intelligence, while bringing consumers and farming communities together to improve product quality, community livelihoods and the consumer experience. Bext360 technology builds upon the fundamental shift in mobile access, microfinance, and mobile/digital payments in developing countries. A guiding principle of Bext360 is to build community by enabling buyers and other organizations with direct paths to improve the quality of both the product and the communities that produce their goods, whether it is coffee, seafood, cotton, to palm oil. For more, please visit www.bext360.com
About KrypC Technologies
KrypC is a global technology solutions company delivering secure, enterprise grade Blockchain solutions to the Private and Public sector. Our flagship product KrypCore is a fully configurable, zero coding production grade platform. KrypCore vertically integrates businesses’ workflow processes and parties and delivers an encrypted, smart Blockchain solution. Started by a 5 Founder-team, and leveraging +100 collective man-years experience in Cryptography & Blockchain, KrypC is a passionate company with over 50 technologists focused on accelerating Blockchain adoption and transforming its potential into verifiable bottom line business results and societal value. http://www.krypc.com