Thanks to blockchain startup Banqu, beer giant AB Inbev is banking on Africa’s farmers for growth.
Blockchain and beer could be a game changer – especially for the cassava farmers of Zambia. Among the various blockchain projects underway at AB InBev – ranging from vending machines that serve beer to managing the company’s media buys for radio and television advertising.— its project subsidiary Zambian Breweries may prove transformative.
The company launched a brand of beer in 2015 that uses cassava, rather than barley, as the primary crop for making the alcoholic beverage. Cassava is an important source of carbohydrates in many parts of Africa, particularly Zambia, where AB InBev’s initiative began. However, despite its status as a staple, the cassava market mostly consisted of lots of small farmers eking out a living marginally above subsistence.
Through BanQu’s platform, Zambian Breweries is able to track the cassava that comes from specific farmers throughout its supply chain, and those farmers in turn have access to near immediate digital payments upon delivery of their product. “It’s empowered local farmers to control their money,” says Tassilo Festetics, AB InBev's Head of Technology.
This application of blockchain has proven so successful to AB InBev that it’s now expanded its partnership with BanQu working with farmers in Uganda as well as with new crops, working with barley farmers who supply the company’s other beers.
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