Blockchain technology continues to prove its applications in different facets of the world economy. According to reports from Honduras, GrainChain to develop <a href="https://www.cryptoknowmics.com/news/">blockchain technology</a> could soon be integrated within the coffee industry.

GrainChain an agricultural startup backed by retail giants Overstock plans to develop a blockchain platform to unite coffee stakeholders in Honduras.  The firm announced in a press release on September 24 that it had entered several partnerships geared towards bringing the coffee supply chain of the country on its blockchain platform.
<h3>Honduras Is One Of The Biggest Coffee Exporter In The World</h3>
With this agreement, GrainChain intends to take advantage of the potentials within the coffee industry in the Central American country.

Coffee is historically one of the major exports in <a href="https://en.wikipedia.org/wiki/Honduras">Honduras</a> and GrainChain intends to breach the gap between farmers and banks by providing transparent and accurate management of the coffee supply chain.
<h3>GrainChain To Develop Mobile App As Part Of Initiative</h3>
One of the major aspects of the initiative is the development of a mobile app. This app will enable local farmers to have access to the movement of their products through the production to the final end-user.

GrainChain will also provide a digital wallet that will enable remote farmers to access to apply for loans. Banks will also be able to use GrainChain to give out loans to small and medium-scale farmers. Insurance companies are not left behind as they will have access to the platform for automating records.
<h3>GrainChain Also Has A Similar Initiative In Mexico</h3>
This is an ambitious move from GrainChain. However, it has a wealth of experience in commercial operations as it was founded in 2003.

Currently GrainChain financial settlement system lets producers, and retailers deploy smart contracts to process agricultural transactions.

This is the second major activity that the firm will be undergoing in Central America following the partnership with the Mexican state of Tamaulipas. The partnership which was announced earlier in May would see the firm expand its grain tracking service in the country.

There has been a surge of fintech companies utilizing blockchain applications in the agricultural sector. Earlier in the year, a group of top coffee firms partnered with Farmer Connect a tech startup to launch a blockchain platform to track coffee.

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GrainChain To Develop Coffee Blockchain Initiative In Honduras

I am olowoporoku adeniyi, writer, editor and crypto evangelist, with five years experience in the Blockchain industry.

GrainChain To Develop Coffee Blockchain Initiative In Honduras

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