The non-profit organization Progreso has worked for years to help smallholder farmers throughout the world sell quality coffee and cocoa while ensuring an honest income and preserving ecosystems. As part of that mission, Progreso has dedicated its time and resources over the last year to launching Beyco, a centralized digital marketplace for coffee producers and coffee sellers all over the world to connect and trade using blockchain technology. According to Progreso, the platform will reduce barriers to the global market for smallholder producers, while traders and roasters will gain efficient and trustworthy access to new suppliers.
Use of blockchain technology on the Beyco will allow sellers to upload documentation for each available coffee, facilitate samples and contract negotiation, and then, once the contract is approved by both parties, provide one shared ledger that will record and permanently save information about the transaction. Beyco is currently welcoming sellers and buyers to register on the site and start trading. Soon, the platform would like to start offering pre-financing to sellers, and eventually add logistical services such as warehousing, insurance, and cupping data.