Copy link
Increase text size
Decrease text size
Link copied

Tea Board of India’s blockchain plan draws response from Amazon, Infosys and others

Mon, 02 Dec 2019, 12:25 pm UTC

An expression of interest (EOI) floated by the Tea Board of India has drawn responses from a number of tech and banking giants, according to a report from the Press Trust of India.

In October, the Tea Board had floated an EOI “designing, developing and commissioning end-to-end technology to ensure traceability of the entire value chain of tea trade.” The key focus was on considering using blockchain technology to facilitate end-to-end traceability of tea.

Tea Board deputy chairman Arun Kr Ray said that Amazon, Infosys, Yes Bank and 25 other companies have responded to the EOI, PTI reported.

"Amazon, Infosys, Yes Bank and 25 others have responded to the expression of interest. The selected consultant will give advice on the costs for carrying out the exercise on a long-term basis", he said.

Ray said that such initiatives are crucial for the long-term sustainability of the tea industry as costs are surging while tea prices have been flat at auctions. Ray explained that unless tea growers are able to realize the fair price for their produce, they would not be able to pay higher wages to the laborers.

Underscoring the fact that India is the second-largest tea producer in the world after China, he pointed out that “The way tea is exported currently does not fetch a fair price in the overseas markets.”

"We are going to start an exercise for determining the traceability of tea, particularly of the orthodox variety, using blockchain technology", Ray said, adding that technology implementation will also help determine whether a variety of tea is organic or not.

Meanwhile, the Coffee Board of India has also launched a blockchain-based e-marketplace earlier this year. The platform has grown from 23 registered farmers at the time of its launch in March, the platform has grown to around 30,000 registered farmers by the end of October.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,982.17 (+3.48%)
  • Ethereum (ETH) $281.81 (+8.76%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $416.34 (+3.33%)
  • Bitcoin SV (BSV) $305.47 (-0.80%)
  • Bitcoin (BTC) $9,982.17 (+3.48%)
Feb 18, 2020 (Tuesday)
13:26
Enjin’s game development platform goes live on ethereum
12:14
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:14
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:13
Boerse Stuttgart's blocknox to offer crypto custody services to institutional clients
11:12
Crypto derivatives exchange Deribit lists daily ether options
10:48
UEFA EURO 2020 tickets to be distributed using blockchain-based ticketing system
10:12
South Korean and Singaporean crypto exchanges partner to develop new services
09:42
Russian central bank completes blockchain tokenization pilot in its regulatory sandbox
08:17
Crypto Technicals: ETH/USD retraces brief dip below 200H MA, close above 5-DMA to see upside resumption
08:16
Crypto exchange FCoin likely to default after up to $130M bitcoin shortfall
06:46
France-based Lagardère Sports partners with blockchain-based fan engagement platform Chiliz
05:36
Binance launches cloud solution to simplify launching cryptocurrency exchanges
04:52
Crypto Technicals: BTC/USD hovers around 21-EMA (9690), potential 'Golden Cross' limits downside
04:51
Telecom giants jointly test blockchain solution for automating roaming discount agreements
Feb 17, 2020 (Monday)
13:34
Fullerton Markets adds support for cryptocurrency deposits and withdrawals
13:02
Crypto asset custodian Copper raises $8M in Series A round
12:06
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:05
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:58
CFTC sues Colorado resident with fraud in crypto-related Ponzi scheme
11:22
Crypto Technicals: ETH/USD slips below 5-DMA, 'Golden Cross' to limit downside
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft