January 19, 2019

Cocoa Blockchain

UNDP is creating a chocolate bar made with Ecuador’s most exclusive cocoa beans and sourced from sustainable farmers in the Ecuadorian Amazon. Thanks to blockchain, European customers will be able to trace every single ingredient. The price of the chocolate bar will reflect its impact on the ecosystem and the real costs of production and export. The profits will be shared fairly, with farmers receiving a significantly greater share than through any other method. UNDP believes that traceability will positively influence European consumers’ purchasing behaviour and hopes to prove that consumers will pay the true price for the chocolate’s socio-economic and environmental impact. If this is true, the model can be replicated in other countries and with other commodities.

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