Cotton Coin: The Cotton Industry Disruption

in cottoncoin •  11 months ago

Cotton is the most often used natural fiber worldwide, and thus an important component of the textile industry. In 2017, the total global production of cotton amounted to some 120.86 million bales. India, China, and the United States were the largest producers, responsible for more than the half of the world’s total production volume. The total global supply of cotton stood at approximately 248.63 million bales in 2017.

Cotton is the most widespread profitable non-food crop in the world. Its production provides income for more than 250 million people worldwide and employs almost 7% of all labor in developing countries. Approximately half of all textiles are made of cotton.

Beside of those numbers above, the people who work in the industry tend to be forgotten. About 90 % of them are smallholders in developing countries. They depend on exploitative middlemen, so many of them hardly benefit from positive market trends. Moreover, they are exposed to many risks – from poor working conditions, non/delayed payment to farmers, poor quality cotton, environmental pollution, lack of government support, corruption and more.

Cotton Coin Technology is, therefore, introducing a solution that will free farmers and other such stakeholders in the value chain, allowing them to lead the life they deserve. The Indian-based blockchain startup has announced the creation of what seems to be a disruption of the cotton industry.

The core technology of Cotton Coin is a distributed cryptographic ledger (a blockchain). The technology which underlies bitcoin and other cryptocurrencies and acts as an unhackable, decentralized ledger. It's been described as "a record-keeping mechanism" that makes it easier and safer for businesses to work together over the internet. It provides a way to record and transfer data that is transparent, safe, auditable, and resistant to outages.

Built on blockchain technology, Cotton Coin is created to service all the participants in the cotton supply chain with convenient, secure and easy payments. The technology aims to improve the distribution of cotton, resolve procurement issues, fight off corruption, support fair trade, and build trust among the cotton supply chain companies, consumers, and authorities in the emerging markets. And most importantly, help to save the lives of cotton farmers. The Company stated that building a self-sustainable business is better than any type of government aid.

The Cotton Coin Technology system relies on several features, including:

  • Blockchain protocol: to create a trusted transaction ledger to integrate consumers, supply chain participants and authorities in one ecosystem.
  • Decentralized Peer-to-Peer Payment Network: to be used as an alternative to fiat currency for instant payment.
  • Backend Growers-to-Bbuyers Traceability: to be used by company managing the transactions each day and reaching consumers with the help of agents and distributors.
  • Front-end B2B dApp: to authenticate cotton sources, tracks delivery and monitors cotton prices
  • B2C dApp: to assists consumers in buying cotton directly.

Cotton Coin Technologies also announced plans to create 2 decentralized mobile apps to complete the “disruption” of the cotton industry. Using the dApp is role based, with each role having its own processes, menus and functions. The features of Cotton Coin mobile dApp will be include in:

  • LOGISTICS TRANSACTIONS: Sending and receiving transport information, verifying information provided by the previous step
  • COTTON SAFETY INFORMATION: Providing weight, package number, label, etc. Information
  • IDENTIFICATION TOOL MANAGEMENT: Inventory and ordering of identification tools and transactions
  • AUTHORITY TOOLS: Functions of the supply chain enforcement for the authority

For more information about Cotton Coin, you can visit these following links:

Website: https://www.cottonco.in
Whitepaper: https://cottonco.in/wp-content/uploads/2018/06/Cotton-Coin-Whitepaper-02062018.pdf
Steemit: https://steemit.com/@cotton.coin
Facebook: https://www.facebook.com/Cotton-Coin-COTN-462763754153370/
Twitter: https://twitter.com/CottonCoin?s=03
Telegram: https://t.me/joinchat/AAAAAE72k5i5j4jsyZo5kA
bitcointalk: https://bitcointalk.org/index.php?topic=3912330.new#
github: https://github.com/cottoncoin/cottoncoin
discord: https://discord.gg/MMFPctU

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Very Good, excellent work...

Greetings @hasantpq01349

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 @hasantpq01349

linia2-small.png

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

Hi @hasantpq01349
I like your analysis
On behalf of your contest organizers, I wish you the best in the contest

Hi there @hasantpq01349

Just wanted to express again how thankful I am for your latest support regarding participating in my little Cotton Coin contest.

Im glad to see that you're very responsive. Not everyone here on Steemit makes an effort to reply to comments. Im glat to see that you do.

ps.
Small reminder: I will announce winners this saturday 14/07/2018. Stay tuned! :)

Important: perhaps you would like to collaborate in the future. Either as a judge or help me organize another contest or simply participate as a writer?
Drop me a message to my email: [email protected] and let's stay in touch :)

Cheers,
Piotr

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I will..

Not many people used the word ‘disrupt’ in this contest. Cotton Coin is a market disruptor by many aspects. It may not overtly advertise this but the venture, as do I, believe that is what is needed to empower the individuals actually doing something.

THIS IS A VERY DETAILED WORK WITH A GREAT CONTENT, I AM IN LOVE WITH YOUR STYLE OF WRITING.. KUDOS @hasantpq01349

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Thank you..

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I love to see how responsive you are @hasantpq01349
Steemit need people like you!

Cheers, Piotr

Nice write up. Thanks for sharing this great post. With love from @hardaeborla

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thank you @hardaeborla. you have a wonderful work also..

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Thank you 💗

Dear @hasantpq01349

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

you highlighted very informatively, the functionalities of cotton coin App and how it will disrupt the system, nice remarks, thanks for your entry.

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your welcome.. and thank you for your comment.

Great description, I was able to learn more about cotton coin, I wish you luck in the contest.

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thank you..

I like to know,
Would you love to venture into the cotton industry with blockchain integration?

What do you think about the situation surrounding the acceptance of blockchain?

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Unfortunately, I'm not yet in the good situation of such a kind investment. For now, you can consider me as a "supporter" only in the cryptosphere. I'm a beginner here.. :) :)

Currently, companies begin adopting blockchain. But, I guess it's still early to see how it could affect consumers and society. The biggest change may be when the society has massively adopted the peer-to-peer interactions on their application. But it's just my opinion.

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Hi @hasantpq01349 your opinion:

The biggest change may be when the society has massively adopted the peer-to-peer interactions on their application. But it's just my opinion.

Is well suited

At the stage we all support the project with our entries making a buzz about the sign and signals @cotton.coin is trying to transmit.

But in the long run I won't be wrong to say supporter might turn out to become investors because they first believed.

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Where you from (country)?
Is the cotton industry vibrant in your Nation?

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I'm Indonesian.
I'm not sure, but I don't think so. Never heard a news about cotton industry on the local medias.

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Waooooo........ you have never heard..?

so what is the main source of fund of the Indonesian conomy

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Never heard doesn't meant no existence. Maybe, I just missed it.

Currently, Indonesia is well-known for its energy and natural resources potency.

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Oh I see..............

Oil and gas I perceive?