Dutch NGO FairChain And United Nations To Help Farmers Get Paid With Tokenized Chocolate Bars

A Dutch NGO has joined hands with the Development Programme for the United Nations to use blockchain to achieve equity in funding the cocoa farmers.

A report by SpringWise said,  that the partners are looking to launch a chocolate bar made of Ecuadorian-grown cocoa. A token-based scheme that enables consumers to furnish cocoa producers directly, would also be launched.

Blockchain Can Make a Product An Investor Impact Engine

The report has it that every chocolate bar has a QR code in its packaging that customers can rely on to make a blockchain coupon contribution to farmers directly. Upon scanning, this QR code will show how much a particular producer was rewarded for cocoa added in the manufacturing of their bar. It will also indicate the GPS coordinates for the cocoa tree from where the bar was harvested.

SpringWire reported that even though the production of chocolate represents $92 billion in the global industry, its farmer only gets 3% of cocoa value that was used. Those are very meager earnings and most are not able to sustain their lives from the same.

Gratuity Transparency

Every token in this project –The Other Bar – is worth one-quarter of the cocoa tree’s value. New funds will be used in planting new trees. Consumers will be enabled to trace their donations using the information provided on the blockchain technology.

UN has been reportedly exploring the advantages of blockchain technology for a long time now. They have assessed the use of the technology in Ethereum blockchain to transfer donations in cryptos to the refugees in Syria. The platform is also used as a digital identity system aimed at curbing child trafficking.

The United Nations in July unleashed its exploration on blockchain advantages to facilitate continued urban growth in Afghanistan. However, the head of the drugs and cybercrime department in the UN has warned that the decentralized coins are derailing efforts to combat cybercrime and money laundering.