(IJCH) Cotton Coin - Disrupting the Global Cotton Industry (BUT MORE IMPORTANTLY, Cotton Coin Aims to Alleviate the Horrible Plight of Third World Cotton Workers

in blockchain •  last year  (edited)

(IJCH) Cotton Coin - Disrupting the Global Cotton Industry (BUT MORE IMPORTANTLY, Cotton Coin Aims to Alleviate the Horrible Plight of Third World Cotton Workers)

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IJCH - Inside JaiChai's Head (Meaning: My Warped, Personal Opinions and Musings)

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From the Author:

Salutations.

I am JaiChai.

And if I haven't had the pleasure of meeting you before, I'm delighted to make your acquaintance now.

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I invite you to interact with everyone, learn, and have as much fun as possible!

For my returning online friends, "It's always great to see you again!"

I just read this awesome post by my Steemit friend @piotr -

"Cotton Coin Technology - "MY FIRST SPONSORED REVIEW WRITTING CONTEST (130 usd in rewards pool)."

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Article Link:

https://steemit.com/contest/@crypto.piotr/cotton-coin-technology-my-first-sponsored-review-writting-contest-130-usd-in-rewards-pool

Blockchain Technology Solving Real World Problems - "Now That's What I'm Talking About!"

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I've been touting for years that Bitcoin is but one (and probably the least important) of many uses of Blockchain technology for the good of Humanity.

IMHO, Bitcoin as a digital asset is the least functional use of the blockchain. - JaiChai (2011)

"People with tunnel vision; that is, those who only focus on Bitcoin as a slow moving, expensive transaction medium are missing the notion that we’re on the threshold of the next generation of the web."

From:

"(IJCH) The King is Dead, Long Live the King (or Why "The Flippening" King may NOT be Ethereum)"

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Article Link:

https://steemit.com/blockchain/@jaichai/ijch-the-king-is-dead-long-live-the-king-or-why-the-flippening-king-may-not-be-ethereum

In another article, I pointed out that Blockchain technology was being used to tackle the problems of "Lawful Identity" and "Worldwide Humanitarian Efforts".

See:

"(IJCH) Two Non-Traditional Uses for the Blockchain: Recognition of Lawful Identity and Worldwide Humanitarian Efforts"

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Article Link:

https://steemit.com/blockchain/@jaichai/ijch-two-non-traditional-uses-for-the-blockchain-recognition-of-lawful-identity-and-worldwide-humanitarian-efforts

That's why, upon reading about Cotton Coin (props to @piotr) and in spite of being alone in my bedroom at the time, I blurted out loud, "Now That's What I'm Talking About!"

What is the Cotton Coin Project?

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Cotton Coin's Blockchain technology will track, authenticate, and streamline the global cotton industry.

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BUT MORE IMPORTANTLY, with Cotton Coin, the plight of cotton workers around the world can now be addressed and alleviated.

From Cotton Coin's website:

The cotton industry is threatened by debates, lawsuits, corruption, and scams, that even data coming from a third party traceability system is viewed with suspicion by the participants.

This led us to wonder how we can bring back trust in cotton related information. We needed a technology which ensures that the cotton related data cannot be corrupted or modified in any way, by any party.

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Blockchain Technology - From Bitcoin to Cotton Coin

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Although Blockchain technology was originally created for cryptocurrency (e.g., Bitcoin, Ethereum, Litecoin, etc.), it is now being used to disrupt other industries and improve the status of all stakeholders within its ecosystem.

Blockchain is the master ledger, a global shared database across multiple networks; allowing information to be disseminated and accessed by anyone via the internet.

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The information cannot be forged and it is not recorded in one central location; making it less likely to be targeted by hackers looking for a single point of failure.

It is egalitarian in nature, not controlled by a single entity (decentralized).

Blockchain information is immutable - set in stone, so to speak. Once a transaction has been validated, it can't be changed - meaning: No after the fact corruption from deletions or other forms of censorship.

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We are now seeing the tip of the iceberg when it comes to bringing the invaluable utility of Blockchain technology to fruition; thereby creating viable solutions for real world problems.

For example, similar to the De Beers Group, the world’s leading diamond company, which specializes in diamond exploration and manufacture, Cotton Coin uses Blockchain technology (IDENTIFICATION TOOL MANAGEMENT) to create a “digital record" for every source of cotton registered on the platform.

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Cotton Coin's Blockchain implementation (LOGISTICS TRANSACTIONS) monitors and records the movement of cotton for tracking.

This drastically curtails the all to common instances of cotton "falling off the truck" (aka theft) and authenticates both the source and quality of the goods.

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And similar to IBM's Carbon Credit Management Using Hyperledger Fabric Blockchain, Cotton Coin uses Blockchain enabled AUTHORITY TOOLS and COTTON SAFETY INFORMATION that will deter unscrupulous vendors from manipulating the cotton market.

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Alleviating the Horrible Plight of Cotton Workers

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Cotton workers world wide suffer from a host of miserable circumstances.

So much so that it has recently led to an epidemic of suicides!

The problems of the cotton workers can all be traced to the obsolete, centralized and corrupt entities operating within the global cotton industry.

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Cotton Coin Aims to Disrupt, Decentralize and Democratize the industry through its Blockchain.

See:

"Blockchain technology is going to revolutionize the cotton industry. -Carson from Texas, USA"

And:

"Cotton farmer from Pakistan realizes the importance of Cotton Coin. -Basit From Pakistan"

Everything from making business transactions transparent to eliminating extended payroll delays, Cotton Coin has plans to make huge quality of life improvements for the workers; while putting the corrupt old guard on notice.

Use Cases

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For example, just like the UK's 2016 Department for Work and Pensions blockchain, Cotton Coin could use a mobile app to receive and spend salary payments. Doing so will reduce salary fraud and protect workers from predatory payment practices (aka extortion).

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See:

"Cotton coin provides instant payment option. Perfect for the export market. -Robert from California, USA"

And:

"Slow and non-payment contribute to the plight of the cotton farmers. Cotton Coin can solve the issue. -Wei From Hubei, Chin"

In the same way AIG teamed with IBM to use Blockchain for "smart insurance policies", Cotton coin could easily setup both an equitable pension plan and/or fair insurance policies via Blockchain technology.

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The Ultimate Goal

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The ultimate goal of any true charitable/relief endeavor is planned obsolescence; that is, to fill the need or solve the problem so thoroughly that it makes the project no longer necessary.

How is this done?

Simple.

SUSTAINABILITY (the "Give a man a fish" principle).

That's why more focus should be given to all aspects of the project: Mission-Road Map-Vision BEFORE execution; then executing and executing until the objective has been met (aka the problem is solved once and for all).

Unfortunately, the bulk of charitable organizations take on a life of their own and insidiously setup conditions for its own survival.

And this is why I am confident in Cotton Coin:

"We believe that building a self-sustainable business is better than any type of government aid." - Cotton Coin

They obviously have their guiding principles in order, no?

Parting Shot

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I truly hope more and more Blockchain projects like Cotton Coin are created to solve today's real world problems affecting our planet and all of Humanity.

By JaiChai

Thanks for stopping by.

Truly hope to see you again!

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About the Author

Believing that school was too boring, he dropped out of High School early; only to earn an AA, BS and MBA in less than 4 years much later in life – while working full-time as a Navy/Marine Corps Medic.

In spite of a fear of heights and deep water, he performed high altitude, free-fall parachute jumps and hazardous diving ops in deep, open ocean water.

After 24 years of active duty, he retired in Asia.

Since then, he's been a full-time, single papa and actively pursuing his varied passions (Writing, Disruptive Technology, Computer Science and Cryptocurrency - plus more hobbies too boring or bizarre for most folk).

He lives on an island paradise with his teenage daughter, longtime girlfriend and three dogs.

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(More articles by JaiChai can be found on the Busy.org website. Use this link to visit Busy.org. Better yet, come join the Busy.org community!)


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"My mind was a terrible thing to waste..." - JaiChai

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I will upvote this tomorrow, when my vote will have more weight (I don't forget such commitments), but I need to comment now. The rebel in me is heartened by the concept of cotton coin technology. While I'm still a little confused about the mechanics of blockchain, the idea of draining power away from a centralize authority is very attractive. Wherever there is concentration of power, there is corruption. Seems to be a natural law. Even revolutions eventually become conservative once they are established. But the blockchain never stands still. It is constantly refreshed. It is dynamic. This much I understand. The only danger is that a few may figure how to game the blockchain and manipulate rewards. I don't know how that happens, but there are some who claim it does. Still, as I look back through history at different economic systems, they all favored consolidation rather than diffusion of authority. This is what distinguishes blockchain. It is a new model for economic distribution. I have hope.

Greetings @agmoore

Wherever there is concentration of power, there is corruption.

Well said. Question is if we will really be able to avoid corruption only because things will become more decentralized and transparent? Only future can tell.

Best regards, Cotton Coin Team
Cotton Coin

Not only, but perhaps partly. Transparent is the biggest factor. And then people who are willing to take the time to monitor activities. It's just that, when power becomes entrenched, and structurally centralized, its really hard to dislodge. People will always be corruptible. I just look back at history--systems that were hierarchical resisted change more than those where power and responsibility were diffuse.

First off, let me say that I am prone to the "upvote happy syndrome" often, so I empathize (I'm at 39% right now! - Sheesh!).

And secondly, you're right about consolidation. Blockchains that use pure PoW (Proof of Work} are vulnerable to big mining mafias. Consequently, more and more blockchains are using Proof of Stake (or some hybrid thereof).

Thanks for visiting and commenting.

Namaste, Jaichai

The hazard of a generous nature--give freely, not always with a thought to consequences. Inspired by your anemic status, I will vote now. See you in the future with more power :) Peace, always.

Hi @agmoore

Wherever there is concentration of power, there is corruption.

Well said. Question is if we will really be able to avoid corruption only because things will become more decentralized and transparent? Only future can tell.

It is constantly refreshed. It is dynamic.

Wouldn't you agree that's blockchain is changing rapidly because it's still in early stage? Will it be so dynamic within 5 years, with millions of people being part of it? Hard to tell.

Great comment
Yours,
Piotr

I don't know--honestly. There is always the tendency toward conservatism (that is, lack of change) when something becomes established. Is the blockchain unique? Nice to think it might be. See you in 5 years ? :)

hahaha yea, I see you in 5 years! :D

I like your sense of humour @agmoore

Hi @jaichai

Hell, that was a long week. I didnt expect this contest to become so popular. I expected 15-20 reviews about Cotton Coin but ended up with almost 60 entries. Crazy but positive :)

Let me already express how personally grateful I am for your support. It has been my first sponsored contest and I've learned already a big deal.

Regardless if you will be one of awarded winners or not - I want you to know that I will do my best to check your profile every few days and support all quality content related to blockchain, AI, human psychology or crypto (as those are my main passions).

IMPORTANT:
I have almost 60 reviews to check and I want personally read each one. It make take me some time but I will definetly reply to any of yours comments.

Also: Im looking for few judges who would help me select best reviews. Please check also my latest post (contest update) for more details.

Obviously upvoted :)

Keep in touch,
Yours
Piotr

I really appreciate your note - especially since you are so busy!

Namaste, Jaichai

hi @jaichai

Finally I managed to read your comment haha. Busy is good :)

Yours, Piotr

Hi @jaichai
Your piece was captivating I must say, from the first word to..............
You made it simple, interesting and easy to understand.

Thanks for your participation.

Thank you for visiting, commenting and of course, your kind words.

Namaste, Jaichai

Your are welcome

You have done a really great job reviewing this project, i have followed you and to support each other in the future..cheers..

Thank you very much.

Namaste, JaiChai

Hello @jaichai,
nice entry you've got here.
i love the way you explicitly elaborated the cotton trend using real world videos from major participants in the cotton industry, going through each of the videos one after the other was really worth it. i wish you success in this contest and i do hope the good news of cottonco.in is spread abroad for major participants to understand how this really works.

Thank you for the kind words.

Namaste, Jaichai

What i love about @jaichai is his personal quotes he introduces in his write ups. There may could come in handy very soon.

A lovely read about cotton coin, hope you emerge tops. Congrats in advance.

Thank you for the compliments.

Namaste, Jaichai

Nice write up mate. It's great to see so many people getting passionate about this project. I was also really pleased to see block chain technology being put to such positive use.

Hey @jaichai,
I'm helping @crypto.piotr to evaluate the contest and think that your article deserves to be in the top 10. It is very unique compared to others and very informative also as you not only show the need of blockchain technology, but also very well lead it to the problem that the cotton industry is facing as well as how cotton coin can help to find a solution for it. Keep up the good work!

Thanks you for the generous praise.

Namaste, Jaichai

Greetings @jaichai

We would like to confirm that your entry has been submited. Thank you for your time and effort.

Results of this contest will be announced on saturday 07/07/2018.

Best regards, Cotton Coin Team
Cotton Coin

Thank you very much. I hope my entry gains Cotton Coin more recognition and broadens your project's exposure.

And let me say this:

Hats off to you for your compassion and level of commitment to a most worthy cause.

By all means, charge on!

Kindest regards to all of you at Cotton Coin. And if you get a chance, please tell my friend @piotr I said hello.

May you and yours be well and love life today.

Namaste, Jaichai

Greetings @jaichai

Thank you for your kind words.

We strongly believe that our project will be succesful and there will be enough demand for COTN. Crypto is still like a wild west and there is so much to learn.

It does amaze us to see that Steemit is full of supportive people (like yourself).

Best regards, Cotton Coin Team
Cotton Coin

Thank you @jaichai for your amazing comment and brilliant piece of work here.

Love your review,
Yours
Piotr

Congratulations, your post is excellent! Keep going...

Thank you for visiting and commenting.

Namaste, Jaichai

How Cool! A nice variety of media. I really enjoyed the variety of your post it makes it fun to follow. Well done!

Thank you for coming by and commenting.

Namaste, Jaichai

Really liked the handshake image. It is a representation of what blockchain should be: connecting both ends of the supply chain DIRECTLY!.

I agree with your sentiments.

Thanks for visiting and commenting,

Namaste, Jaichai

This is so interesting off to check the links and learn more

  ·  last year (edited)

Not sure what your attitude is about torrents, but there's a couple audiobook versions of "Origin" on thepiratebay.org.

Don't forget to use a good anti-virus/malware and secure VPN if you decide to download anything!

Namaste, Jaichai

@jaichai Thanks for the info I may check it out

Greetings @jaichai
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Just a small update.

Results will be announced on saturday 14/07/2018 (instead of 07/07/2018). This contest turned out to be a huge success and it may take us more than a week to read all reviews.

You can find more details visiting @crypto.piotr profile and checking out his latest post:
https://steemit.com/cottoncoin/@crypto.piotr/cotton-coin-technology-contest-update

Best regards, Cotton Coin Team
Cotton Coin

Cotton Coin as we know will apply the use of smart contracts in payments through its Peer2Peer system

How will the system authenticate the exchange and confirm reception from both ends

This is a great review @jaichai I just love it

  ·  last year (edited)

Thanks for the kind words.

Namaste, Jaichai

Anytime!

Congratulations! Your post has been selected as a daily Steemit truffle! It is listed on rank 15 of all contributions awarded today. You can find the TOP DAILY TRUFFLE PICKS HERE.

I upvoted your contribution because to my mind your post is at least 22 SBD worth and should receive 125 votes. It's now up to the lovely Steemit community to make this come true.

I am TrufflePig, an Artificial Intelligence Bot that helps minnows and content curators using Machine Learning. If you are curious how I select content, you can find an explanation here!

Have a nice day and sincerely yours,
trufflepig
TrufflePig

A great job, very well documented, I must tell you that I congratulate you, you are young and a great contribution to steemit.

I like to ask you,
In you country is cotton industry part of the main stream?

With cotton coin would you wish to venture into the agricultural or supply chain chain network of the cotton industry

Awseome to read but you said more about you, I think you should make a seperate introduction post and paste it link in your every article if you want people to know about you.

But the way appreciated your work and time:)