Cotton Coin is created to save the lives of cotton farmers and its industry.
Cotton has become the most in-demand commodity and it's the world’s most commonly used natural fibre, however high usage of artificial material worldwide has negatively affected the cotton growing sector. It's really heart breaking knowing that a lot of cotton farmers committed suicide due to the fall of cotton industry. Cotton production decrease over the years past from falling of the cotton's prices in the world markets and the low profitability of cotton breeding and this inflicting loses on the farmers. They're suffering from some setbacks such as "poor working conditions, non/delayed payment to farmers, poor quality cotton, environmental pollution, lack of government support, corruption and more. This has only worsened with time as global warming and ozone depletion made the weather highly unpredictable. All these affect the quality, consistency and sufficiency of the crop."
Thus, other situation is very favorable for the companies buying cotton, but not for the farmers, who produce it, creating unfair price situation as well. I was really saddened to know that those farmers who worked so hard through sweat and blood are the ones who don't earned much. Like cotton farmers, rice farmers here in the Philippines facing the same situation as well because our government instead of buying our local rice they imported rice in Vietnam and our local rice is being sold as commercial rice which is expensive and we consumers have no choice. I wish, there's this Blockchain Technology that will help resolve this problem. How about Rice Coin? Isn't it possible? I wish! ☺️
Cotton Coin Technologies "is a digital solutions provider that aims to alleviate the suffering of farmers and other stakeholders in the cotton industry using blockchain technology." This technology ensures that all transactions cannot be corrupted.
"COTTON COIN runs on blockchain protocol that creates a trusted transaction ledger to
integrate consumers, supply chain participants and authorities in one ecosystem.
COTTON COIN has a built-in peer-to-peer payment network can be used as an alternative
to fiat currency, offering instant payment by bypassing corrupted intermediaries."
The aim of this project is to provide a convenient ways in buying and selling cotton product to the farmers. It helps prevent corruption and the delays of payment.
The Management Team