Startup Uses Blockchain Technology to Drive Transparency in Coffee Industry

Denver-based startup Bext Holdings Inc. (Bext360) is harnessing the power of artificial intelligence and blockchain technology to make it easier for coffee farmers around the world to get paid a fair price for the coffee beans they grow and sell. The company has developed a unique scale-inspired machine that utilizes machine learning and AI to rapidly analyze the quality of a farmer's coffee cherries and divide them into grades in the field. Both farmers and buyers will then use Bext360's mobile app to negotiate a fair price. Previously, buyers were required to sort and inspect coffee beans manually, a process that left farmers in limbo -- and without pay -- for months at a time. Bext360 uses the Stellar network, a distributed decentralized platform for real-time transactions, to operate its app and cloud-based software.