Crypto Coffee Coin Is Coming to Brazil’s Countryside Farmers

Coffee farmers in Brazil’s countryside could be soon be using cryptocurrency for their day-to-day needs.

A major arabica-bean cooperative, Minasul, is planning to this month launch a blockchain-based digital coin that will be backed by coffee supplies. Farmer members will be able to use the “coffeecoin” to buy fertilizer, machinery and other non-farm products, including cars and food, Jose Marcos Magalhaes, Minasul’s president, said in an interview during the Global Coffee Forum in Campinas, Sao Paulo state.


By Fabiana Batista via Bloomberg


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