The UN Development Programme (UNDP) has launched a new chocolate bar dubbed The Other Bar. This is a social experiment, which uses blockchain to give consumers the right to choose if they want to give back to the farmers or use it to get a discount on their next purchase.
The idea behind this experimental chocolate bar comes from FairChain Foundation in collaboration with the UN and is powered by Guido van Staveren, founder of the Moyee Coffee. The idea is to bring about products into elements of change by providing customers a chance to take part in the transition themselves instead of trusting third-party’s, including NGOs.
The Other Bar touted to bring radical quality is not the first blockchain pilot taken by FairChain Foundation. Back in 2018, the company joined hands with Moyee Coffee to run a similar initiative to ensure fairer business for Ethiopian coffee farmers.
Necessity for a fairer system
Notably, it is touted that a majority of cocoa farmers gain as low as 3% of the value of the cocoa used to make chocolate sold in shops. Moreover, the cocoa market price crashed between late 2016 and early 2017, thereby making farmers experience only a fraction of their income, which is up to 40%. And, this led to issues such as deforestation and child labour. It is important to bring a fairer system to continue to enjoy great chocolate.
In addition to paying farmers a fairer price for the cocoa, this social experience dubbed The Other Bar is meant to improve economic impact. The experiment will plant more trees to ensure a sustainable future income, and this will increase the future crop yields of cocoa farmers with new trees and in-pack tokens.
Limited edition stock!
Well, The Other Bar, the blockchain-powered chocolate bar, will be available for purchase from today. Initially, there will be a limited run of 20,000 bars, and each pack will have a QR code token with a value, which is equivalent to a quarter of a cocoa tree. The Other Bar is made from organic Ecuadorian cocoa and will be available in both dark and milk chocolate. The pack contains two 50g bars and is priced at €3.4.
If consumers choose to return this value back to the cocoa farmers, there will be a fairer community of farmers in the future. Also, there is an option for customers to get nearly €0.30 profit on their next purchase. If all consumers decide to let go of their discount for the welfare of cocoa farmers, then the first stock of 20,000 bars will fetch an amount that will let farmers grow 5,000 cocoa trees and an additional income for farmers every year for another 15 years.
Main image picture credits: The Only Bar
Stay tuned to Silicon Canals for more European technology news.