Cotton coin: Weaving Cotton into the blockchain community

in contest •  11 months ago  (edited)

ABSTRACT


Before a problem is solved, one must know the problem to be solved. In this Article, I will talk on Cotton and Cotton Coin tech and how it will change the Textile Industry and cotton farmers using the blockchain. Some of the questions this article will answer are:

  1. Why does the cotton industry need blockchain and how can this industry benefit?
  2. What are some of the problems Cotton Coin are trying to solve? And how do they want to achieve that?
  3. How does it improve trust with consumers, retailers and authorities?
  4. Please provide some interesting examples of Cotton Coin in action. What can be a use case to illustrate how poor cotton farmers be helped by blockchain technology and the Cotton Coin project?
  5. What benefits can Cotton Coin bring to the world cotton industry specially the third world countries.
  6. How the Cotton Coin introduce transparency and improve the supply chain in the cotton industry.
  7. How the cotton coin can be used to bridge the gap between the buyer and the producer of cotton.
  8. How can Cotton Coin be used to ensure that the cotton farmers and producers be paid the correct buy price and get paid in a timely manner.
  9. In what ways can integrating the cotton supply line with blockchain technology impact the overall industry.

INTRODUCTION


cotton coin logo.jpg

What is the Cotton Coin tech?


Cotton Coin is an organization that will use the blockchain technology for medium of data transfer, interactions between users, transparency and secure way in the textile industries. This technology will enable instant P2P payment using the blockchain technology. It main features for operation are it decentralized application for the buyer to buyer and buyer to customer markets that will also enable numerous user friendly services that will teach and enlighten users about the price and information of cotton and the textile industries.

THE CURRENT SITUATION OF COTTON PRODUCTION


You might as well think that the subject matter is none of your concern. You might probably not be working in a textile industry neither are you a cotton farmer. But I would want you to know that Cotton is everywhere. It surrounds us daily. In our work place, buses, home, offices and even, cotton knows if you’ve had a shave or not. Although cotton is everywhere today, where did it start? How long have people weave it into garments and blankets and rappers? What are the current problems of the textile industries and farmers of cotton?

cotton link 3 use.jpg
Source

BRIEF COTTON STATISTICS


According to statistics, the white gold as it is also known is the most often used natural fiber in textile industries worldwide. In 2017 over 100 million cotton bales were produced around the world’s cotton production. The United state, China and India are some of the largest producers of this product. The United State alone exported over 15 million bales of the total cotton exported around the world in 2017. Other top exporters of this product are Brazil, Australia, and India. Top importers include Bangladesh, Vietnam and China.

farmer harvesting content link 4.jpg
Source

In terms of Farming capacity of these countries, over 11 million acres of land was planted in the United States alone in the year 2017 with Texas leading in the cotton production.
Over the years, the price of cotton has either remain stable for a few years or drop or rise in others. In 2012, a heavy price decline hit the cotton price. For example, the average United State upland spot cotton price decreased from 133 to 74 U.S cents within a year.
Statistic Source

germany-textiles-market link 1 use.png
Source
Cotton: Natural Fibre

USES OF COTTON


The use of cotton as a farm produce is something we should be aware of. Cottons are used in almost every endeavor of our daily routine. Cotton is famous for its adaptability, performance and natural comfort it provides for humans. Cotton fiber can be woven or knitted into numerous fabrics products such as velvet, corduroy, velour and jerseys. Apart from the fabric use of cotton, it is use in textile products like underwear, socks and t-shirts. Cotton is also used in fishnets, coffee filters, book binding and archival paper. Cotton serves as a food and a fiber crop. Cotton seed is fed to cattle and crushed to make oil. This cottonseed oil is used for cooking and in products like soap, margarine, emulsifiers, cosmetics, pharmaceuticals, rubber and plastics. Other products like the cotton Linters are also used to produce goods such as bandages, bank notes, cotton buds and Swabs.
From this outlined used above, it can be seen that the use of cotton in our society affects us in one way or the other.

cloths link2 use.jpg
Source

THE PROBLEM OF THE TEXTILE INDUSTRIES AND COTTON FARMERS (Negative Factors)


Over the years, there are factors that have affected the production of cotton as raw material of fabric products. These factors range from physical factors that affect the crop itself to psychological factors that affect the farmers. The physical factors has in one way or the other contributed more of the psychological effects on the farmers indirectly this is true because every farmer’s expectations is to have a better yield of his farm produce. Outlined below are some of the factors that have hindered the better development of the textile industries and the cotton farmers.

Farmers problem

  1. Low cotton yields per hectare:: A better yield of the crop is low compare to the expected yield.

  2. Quality of cotton produced:: Cotton is a white soft natural fiber. It is believe and expected to be white and a bit tough. Low quality of cotton are cotton produces with defects that are not within standard demanded for production of fabrics.

  3. Pest:: One of the most disturbing factor to the production of cotton is Pest. According to statistics, Cotton pest damaged 10 percent of the total quantity of cotton produced in a year.

  4. Fertilizer and good machinery availability:: Farmers also face the problem of fertilizers availability and good mechanism system to enhance better produce of the cash crop.

    [SOURCE: Journal of Agriculture and Social sciences BAKHSH et al. / J. Agri. Soc. Sci., Vol. 1, No. 4, 2005. Department of Environmental and Resource Economics, University of Agriculture, Faisalabad, Pakistan. page 334.]

  5. Water:: Cultivation of Cotton takes a lot of water to maintain and survive. It is known that just 1kg of cotton takes up to 20,000litres of water. This quantity of cotton is for just the production of a trouser and a shirt. Imagine the quantity needed to produce cotton in abundant for just a West Africa country with population of 230 million citizens.

  6. Poor quality input:: The use of poor quality inputs like seeds and pesticides results in low productivity of cotton.
  7. Government policies:: On the production side government has a standing regulation that enforces the destruction of all cotton stocks by the end of the cotton growing season; this is a way of ensuring that the risk of disease and pests associated with cotton production is reduced. [Source: Economic Analysis Of Factors Affecting Cotton Production In Zimbabwe By Godfrey Mahofa, University Of Zimbabwe, July 2007]

  8. Cotton Price::The price in which cotton is sold in the textile industries is also poor compare the efforts put in the cultivation of cotton.

  9. Lack of loans or inadequate subsidies given farmers and corruption: Farmers have little to purchase better cotton seeds, fertilizers for cultivation. Even when these subsidy are given, the farmer in the field gets very little of the actual amount given to him because of corruption.

  10. Delay of payment to farmers using Fiat currencies:: Most times, farmers experience delay in the payment (Using fait currencies; that is, local currencies) for the sale of the crop from their customers and industries who needed this product for fabric production.
  11. Textile Industries problem

    On the other hand, the textile industries also experience a couple of issues relating to the production of cotton. It can be well ascertained that Industries will be directly affected when farmers are affected in the production of the white gold.

    COTTON COIN: WEAVING COTTON INTO THE BLOCKCHAIN COMMUNITY

    cotton coin logo.jpg

    Solving almost all the problems that befall the cotton farmers and the textile industries, Cotton Coin will use the blockchain technology to eradicate the industries’ dilemma. It creates a trusted transaction ledger that integrates consumers, supply chain participants and authorities in one ecosystem. It integrates a peer to peer payment system were farmers can carry out transactions using smart contracts without the involvement of fiat currencies and intermediary like local banks and centralized organizations.

    Why the Blockchain?


    A blockchain is a secure digital ledger that enables companies to transfer assets across the internet with increased speed and reduced interference. Blockchain tech can create digital report that verify tracks and traces each step of the procedure without the need of software Application.
    Combined with "Smart contracts," it has powerful implications for global trade with cross-border settlement and immediate transfer of currency or other assets.
    Because blockchain technology benefits from a network effect, whereby a service becomes more valuable the more membership it has, the cotton industry is being urged to sign up as a conglomerate members, helping to put together a single, shared blockchain to record, track, trade all of the world's cotton markets in real-time.
    In Summary, the Cotton coin needs the blockchain technology because it will enhance the following solutions to the industries problems:

    1. Instant Payment System
    2. Versatile Traceability System and a lot more.

    THE COTTON COIN BLOCKCHAIN TECH AND THE COTTON COIN TOKEN


    Using the blockchain, the cotton coin will enhance Token Transaction Ledger using the cotton coin token as a value in which other cryptocurrencies can be converted to. Instead of paying cotton farmers in fait currencies and using third party intermediaries, Cotton coin will use the cotton token in making all transactions on the blockchain ecosystem.

    cotton conin.png

    The token will enhance security of data as transactions and every other form of cotton related issues will be stored in a private blockchain.

    TEAM


    Below is the team behind the cotton coin tech. The team are a group of individuals who are experienced and educated in the field.

    ceo cotton coin.png

    technical director cotton coin.png

    community management cotton coin.png

    For More information about Cotton Coin,

    You can visit the Cotton Coin Website.
    Or the Cotton Coin Cotton Coin White paper.

    This is @crypto.piotr contest. For more information on this contest click here

    Thank you for Reading this Article.

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Hey @focygray,
I'm helping @crypto.piotr to evaluate the contest and think that your article deserves to be in the top 10.

Your article is very informative and covers all the relevant points from the cottoncoin project. I also like the pictures and statistics you are showing to make aware of the current problem. Keep up your good work and thanks for participating in this very relavant topic of the cotton industry.

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Thank you very much.

Upon seeing you image of a women shopping in what appears to be a high end mall, I would say a perfect accompany image telling the story of Cotton Coin would be to put a famer side by side the shopper. Good post.

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Thank you Sir. I am grateful for your support.

Dear @focygray

That was a long week and I definitely did not 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. This has been my first sponsored contest and I can safely say that I have already gained and learned so much of valuable knowledge from it.

Regardless if you will be one of the 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 topic of passion).

IMPORTANT:
I have almost 60 reviews to go through and I want to personally read each one. It might take me some time but I will definitely reply to any of your comments.

Also: Im looking for few judges who would help me select some of the best reviews submitted. Please visit my latest post (contest update) for more details.

Obviously upvoted :)

All the best, Piotr

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okay Sir. I wish you much success in subsequent contest from you. And I hope I can always be a part of it.

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Please accept my appplogy for such a late reply @focygray

Past several days has been very hectic and busy and I didn't have enough time to reply all received comments. Usually I have time to do that on weekends.

Thank you for your never ending support. I appreciate it a lot.

Yours,
Piotr

Hi mate, i entered the competition as well and was going through the entries one by one. You have done an excellent job of reviewing the project and it was definitely worth reading. Great post and good luck to you.

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Thank you buddy.

A great article, I value and I really liked the effort you have made, it shows that you have researched a lot and that you have made an effort. I wish you luck in the contest and hopefully you win !.

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Thank you very much for your support. I am grateful.

Throws light on the problem. Great entry.

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Thanks bro. I am grateful for your comment and support.

This is well-researched and informative! Bravo! I had never heard of CottonCoin until this article. Thank you for enlightening us with this information, and I wish you much success in the contest!

Thank you for the Steem you transferred to me, but it certainly wass not necessary! I volunteer my time on the SteemitRamble because I am happy to help in whatever way I can. It was nice having you join us for PYPT!

There is a "Coffee Hour" chat for creatives on Mondays at 1700 UTC in the SteemitRamble. There are also two session of "Pimp Your Post Thursday," one at 1500 UTC and another at 2300 UTC. I hope we can see you again on a regular basis!

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Thank you @thekittygirl. I appreciate your effort supporting my article.

Greetings @focygray

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

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Greetings @focygray

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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

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Okay

I am already swayed by your writing style, continue like this and in no time you will become a whale...lol i have followed you so that we can support each other in the future..

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Thanks buddy. I am grateful for your good comment and encouragement. I will always want to improve in my writing.

@focygray.. Mhen!.. This is very impressive. I love your write up about Cotton Coin by explaining every single thing that one should know about it starting from the Cotton to the Cotton Industry. I have learnt alot from this. Cotton Coin will surely solve alot of problems as you've stated. I wish you success in the contest.

Thanks for sharing this great post with love [email protected] 😁🙌💗

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Thank you too.

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You are welcome

This is very awesome, i entirely love this, you have a very excellent method of writing, keep it up bro

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Thanks bro...

On behalf of @cotton.coin, wish you the best with this submission. its precise with the facts

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Thanks buddy.

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Ur welcome my dear

hi @ focygray, your style of writing marvels me, it is very professional. i just love how you introduced statistics into the article. kudos. here is me @antigenx wishing you goodluck

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I read throught your entry and it was okay. Let us keep our fingers crossed on the results.