Yesterday, @cheritocafe presented a proof of concept that will allow coffee producers to be onboarded into a #Bitcoin circular economy, allegedly, during an event held by Tierra Bendita, USAID & FUSAI.
The system developed by @christianblaze makes possible to compensate coffee producers with 'royalties' anytime their product is traded around the world, since the moment it leaves the farm.
A demo test was shown to us today, where someone bought a pound of specialty coffee with Bitcoin, and seconds later a micropayment arrived directly to the producers wallet, who were there watching the whole process.
The premise is the same as Bitcoin: to remove third parties from the picture, and make value distribution fair and frictionless.
I was told coffee producers could use any wallet like @BlueWallet & @BlinkBTC to receive these royalties, confirmed @ArguetaSalim.
More tools like @DitoBanx's debit cards will be added in the future, said @CheritoCafe.
The system is being developed right now (call it beta) but proofs like the latter have already been successful, they say.
Further technical details will be informed in the following couple months (you know I love to explain those, I owe you)
An important thing to notice is that most of the coffee grown in El Salvador is acknowledged as 'specialty coffee', which means that it reunites very specific standards to make it a world class product.
Among the participants there were award winning salvadorian coffee producers, who also completed a course provided by USAID & FUSAI to learn the best practices in coffee production ☕ They ended it today with a small ceremony.
One of the main challenges is to educate producers, which is why this initiative by Tierra Bendita will be backed by @MyfirstBitcoin_, who is exploring the possibility to bring education through the #BitcoinDiploma, said Alejandro Galán @pilamaHT, National Director of Education of Mi Primer Bitcoin.
Adopting Bitcoin has raised the interest of coffee vendors, institutions and universities for @CheritoCafe & Tierra Bendita in the United States already, so a pilot to distribute coffee there is already in the makings.
This meeting was held at Hotel Maya, nearby La Palma, Chalatenango, El Salvador. They accept Bitcoin and have beautiful views, mountain weather, amenities, delicious food and coffee.
Learn more: http://tierrabendita.net
S/O @The_BitCafe & @swilmarth
Original Post: https://twitter.com/criptoluis/status/1694551828355043822