CNK to Regenerate African Cafe Industry Through Blockchain Technology, Announces ICO
Originally published on: CCN
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January 22, 2018
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Africa is blessed with an overabundance of natural resources, chief amongst which is coffee, the second most traded commodity in the world, after oil. Coffee is the highest consumed beverage and its production is almost exclusively based in the developing countries. However, while the world continues to enjoy the benefits of this potent beverage, coffee farmers are yet to reap any reward from what they’ve been sowing for decades now due to market monopoly by an elite few. These forces have not only exerted undue downward pressure on prices they pay the farmers, but also upwards on how much they charge consumers. FinTech startup, Crypto N’ Kafe (CNK), is set to address this situation through the development of a revolutionary blockchain platform for the industry.
A Weak, Bland Brew
Estimated at $9.9 billion annually with 2.26 billion cups consumed daily, coffee production is one of the most lucrative sectors of the food and beverage industry. However, access to sufficient credit for millions of coffee and trading enterprises have stymied the sector’s growth. Access to credit remains of the biggest challenges facing the industry. The remoteness of some farms makes it prohibitively expensive to establish conventional credit infrastructures, while the inability of these farmers and enterprises to manage risk has kept potential lenders at bay. The coffee industry is fraught with risks and complications as a result of the centralization of exchanges. Unfortunately, the international trade industry is plagued by this same problem. Crypto N’ Kafe’s groundbreaking blockchain solution disrupts this status quo by returning control back into the hands of the market, rather than the behemoth whose excessive mediation has frustrated the market.
Built on Ethereum blockchain protocol, Crypto N’ Kafe leverages smart contracts to disintermediate all exchanges on its platform, allowing users to directly transact with one another from anywhere in the world without relying on any third-party to mediate.
Smart contracts record and secure all transactional information, terms, and fund to the blockchain, serving as a decentralized and unbiased escrow system for every engagement. The immutability and tamper-proof features of the blockchain not only ensures that all required obligations are binding and cannot be breached, but the identities of the users are secured and cannot be faked.
The Best Cup of Joe
Crypto N’ Kafe integrated blockchain solutions offer the following benefits:
- Farmers: Bypass importers and their high commission fees and be your own bank by directly communicate with your customers. Crypto N’ Kafe allows farmers to securely store and exchange values through CNK tokens, setting their prices, and freely choosing who to transact with on an intuitive platform.
- Importers: Create importer profile and initiate direct exchange with farmers and roasters from all over the world at the tip of your finger. By dealing directly with farmers and traders true secure peer-to-peer channels, importers can cut back on costs.
- Roasters: A freedom of choice that allows roasters to find the best coffee traders across
- CNK ecosystem at the best available price.
- End-users: How about the best coffee flavour at the best possible price? With CNK ecosystem, coffee consumers are now guaranteed the best cup of coffee they’ve ever had.
CNK exchange is fully-compliant and boasts of advanced security features. These features also translate to its enterprising Crypto-Out Card which can be loaded with funds from linked web/mobile wallets and can be used wherever a credit card is accepted.
To facilitate platform development, Crypto N’ Kafe will be offering its CNK tokens to the public starting with its pre-ICO on January 18th, 2018. Contributors can acquire CNK tokens at the rate of 1,250 – 1,350 CNK per ETH for purchases with 25% – 35% bonuses for each contribution.
For further information, visit: https://cryptokafe.io/