Cotton Coin is an innovative project developed to eliminate the bottlenecks in the present cotton industry - mostly cotton industries in third world countries. This project incorporates blockchain technology into the cotton industry distribution chain to ensure data authenticity, transparency, security and payment ease.
The mission of this project include:
- to make cotton more transparent
- to democratize access to cotton related information as a common property
- to enable technology to become authority
- to reduce the scale and effects of epidemics and cotton frauds in emerging markets
- to educate people through incentivizing conscious consumer behaviours
- to help small industries to be more competitive. Etc.
The current cotton industry
The current cotton industry is plagued with numerous challenges that are preventing most cotton farmers and stake holders in the industry from reaping the benefits of their Labour. Regardless of the huge opportunities in the industry, only a few people are enjoying the benefits while the rest are left to wallow in poverty despite their huge contribution to the industry. Some common problems plaguing the present cotton industry include :
- poor working condition
- delayed payment to farmers
- poor cotton quality
- lack of trust among key players
- difficulty in accessing cotton's data or information
- lack of government support
- environmental pollution. Etc.
These problems are costing both the cotton farmers and some key players in the cotton industry greatly that if not addressed will continue to hinder the progress of the industry.
The cotton coin's solution
Cotton coin will eliminate the bottlenecks in the current cotton industry by introducing a technology which will ensure that Cotton related data cannot be corrupted in any way by a third-party. Cotton coin will do this by incorporating a blockchain protocol that creates a trusted transaction ledger to integrate consumers, supply chain participants and authorities in the ecosystem.
Through this project, cotton farmers will have high assurance of receiving payments for their products and every participant in the cotton industry are ensured of satisfactory services. Some key benefits this project will bring to all stake holders in the cotton industry include:
- fast and secure payment system
- it will build trust among the various stake holders in the industry
- easy access to cotton data
- constant update of ongoing trends in the industry
- transparency and security is guaranteed since blockchain technology will be incorporated into the system
- quality of cotton product can be easily verified
- supply chain companies can easily be accessed and verified
- monitoring and comprehensive tracking system
- ease of transaction of cotton business
- cost reduction. Etc
The benefits this project will bring to the cotton industry will be felt by all the stakeholders in the industry with no exceptions. Thus, they should all lend their support to this laudable initiative of cotton coin.
cotton coil will be the major utility token of this project. It's the crypto currency that will be used for all transactions and payments for services. cotton coin is an ASIC resistant utility coin with X11 hash algorithm. It's the heart of the project and can be exchanged for fiat currencies.
Cotton Coin's dApp
cotton coin has created two major apps to ensure the effectiveness of this project. These apps are optimized to function in most mobile devices and they are easy to navigate. These apps will ensure smooth information sharing and transactions among the members of the cotton coin's ecosystem. The first app is the B2B app designed for the major stakeholders in the industry and the other app is the B2C app designed for the consumers. These apps are designed with great features and loaded with great information and services about the cotton industry. they will keep all participants in the industry abreast with various happenings and trends in the industry.
This project will bridge the gap between buyers, producers and all stakeholders in the cotton industry and it will open the industry to more opportunities and make it more competitive. i implore all stakeholders in the cotton industry to give this project the required support because it will be of immense benefits to them.
Visit any of the links below for more details about this innovative project: