Two-thirds of the world's cocoa comes from Ghana and Ivory Coast, yet 75% of the smallholder cocoa farmers who produce it don't earn a living income. Since their individual harvests are relatively small, their negotiating power is negligible and they’re at the mercy of prices set by traders.
Chocolate maker Koa is turning to the blockchain to show consumers exactly how much it’s paying farmers in Ghana. The Swiss chocolate brand has partnered with supply chain platform Seedtrace to follow and display each transaction. Every time Koa makes a mobile payment to a farmer, the amount of Ghanaian cedi paid is automatically logged on a blockchain, along with the farmer’s name and the kilograms of cocoa beans or pulp they sold.
Koa pays a premium for the cocoa it buys and also purchases fresh cocoa pulp from farmers — which it turns into juice — to provide them with extra income and reduce food waste.
