Palmyra: A Tea Value Chain Upgrade

A Tea Value Chain Upgrade | The London Tea Auction in 1679 was a “version 1.0” marvel at connecting buyers and sellers. Price discovery in the world’s biggest tea market was competitive and transparent.

Buyers bid weekly on teas from China, India, Sri Lanka, and East Africa. The auction and banking sector enabled brokers and foreign agents to secure a shipload or a single chest of exotic tea. Certified warehouses provided efficient storage, and logistics firms organized delivery to local retailers, blenders, and packers.

Three hundred years later, at their peak, the world’s tea auctions captured 80% of the international tea trade by volume, which has steadily declined in the past decade.

Joining us this week is Sam Lambert, co-founder and chief operations officer of zenGate Global, a technology company whose Palmyra.app Platform upgrades tea transactions with seamless blockchain traceability for all stakeholders, increasing trust, improving cross-border payment solutions, and conveniently providing access to financing.

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