A Cryptocurrency Backed By The Coffee Industry

By Bitcoin Chaser | August 11, 2021

A Cryptocurrency Backed By The Coffee Industry

Name a more internationally loved symbol than coffee. We are sure you could name a few, but most of the worldwide population can’t live without their daily cup of coffee. Coffee is highly regarded for its many health benefits. Lots of antioxidants, increased energy, fat burning, and more. Everything in moderation of course, but coffee itself is a market valued at more than 100 billion USD. Coffee is a critical part of almost every restaurant, which may be the driving force of these incredibly high numbers. But not only that, there are so many different types of coffees for buyers to purchase and enjoy. Cappuccino, espresso, ice coffee, Irish coffee, and more. Hence Starbucks’ popularity. 

Brazil is the main producer and exporter of coffee beans to the world. Almost double the number produced by the other runners up. With their perfect growing environment, it’s clear why Brazil is a top contender in the coffee industry. But with the recent frost threatening the yield of coffee beans in Brazil, the price has risen drastically. The demand for coffee may have stayed the same, or even risen, but the supply is not matching those numbers. This decrease in stock has led to an increase in stock prices. The perfect time to get into Coffee Coin. 

Combining Coffee And Cryptocurrency 

Cryptocurrencies and Blockchain technology are becoming a fundamental part of almost every industry. Being used by world-leading companies. From Coca-Cola tracking their bottling suppliers and creating NFTs to BurgerKings native token WhopperCoin launched in Russia, among many more. Blockchain technology is leading the way to automated, fast, incorruptible, and transparent systems. Blockchain has already proven to better every market and company it is integrated into, but it’s not done yet, there is more work to be done. Now two of the best industries are coming together to bring you the best of both worlds. 

Coffee Coin is a stable coin based on the physical supply of coffee beans being produced and sold, with 1kg of coffee equating to 1 Coffee Coin. Stablecoins differ from other cryptocurrencies for a variety of reasons, the main being that is tied to a real-world asset. The token was started by the second-largest arabica coffee supplier, Minasul, in July 2021. The recent influx of frost, damaging the coffee beans, saw the supply fall while demand remains. This has seen the token rise more than 36% in the last month. This token and its rise have seen significant interest from investors growing, especially with its usage of Blockchain technology driving it further. 

What’s Next For Coffee Coin And Cryptocurrency?

Coffee Coin has already seen phenomenal growth over the last month, but there is no way to say whether this trend will continue upwards. Coffee is an industry that is likely to never fade away, and cryptocurrency is the future of money. These two industries should work well together to provide the best results for both, but only time will tell.

As for Blockchain and cryptocurrency, as stand-alone industries, the possibilities are endless. We have seen it done before, and we will continue to see it happen again and again. Blockchain provides a variety of perks that ensure optimized systems on all frontiers. We are excited and enthusiastic about the future of Blockchain, and you should be too.

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