The creators of CoffeeCoin – the verified Waves utility token for the specialty coffee trade – will be holding their token sale from November 14 until November 24, 2017 in order to continue developing their blockchain-powered coffee trading platform.
According to founder James Allen, CoffeeCoin is already being used as the utility token for the first version of their platform.
“Thanks to a successful limited pre-sale in July, we were able to build our first working prototype,” says Allen. “As of October 16, 2017 coffee professionals can already post buy, sell and service offers via the blockchain using CoffeeCoin as the underlying fuel for CoffeeChain.io.”
According to Allen, this is “just the beginning”.
Using the peer-to-peer decentralized ledger features of the Waves blockchain, CoffeeCoin utility tokens will be used to create additional functions on the CoffeeChain platform that reduce and eliminate many of the current economic, administrative and logistical inefficiencies in the global specialty coffee trade.
These include using CoffeeCoin;
- As a global digital voucher for green coffee transactions;
- For transmitting and preserving contract, pricing, origin and shipping data;
- To crowdfund microlots of high-grade coffee to help support small coffee farmers around the world;
- As a tool to bridge the gap between drinkers of specialty coffee and the people who produce it.
Many processes within the coffee trade are currently very slow and prone to errors. With the tools powered by the CoffeeCoin token though, coffee farmers will be able to connect more directly with consumers, removing middleman and increasing value across the specialty coffee supply chain.
Coffee farmers will be able to receive a premium for producing higher-quality coffee, roasters will have more direct access to unique coffee lots, and consumers will be able to directly trace their daily cup to those who grew it. In fact, the CoffeeCoin team has already been demonstrating these benefits direct from farms in Indonesia over the past several months.
To continue the development and growth of the CoffeeChain platform, the CoffeeCoin token sale will be held from Nov. 14 – Nov. 24, 2017. James invites those interested in supporting the project to read their whitepaper, watch their direct-from-farm videos and join the token sale by visiting https://CoffeeCoin.io