Presently, the world uses more of cotton than any other fibre. I am pretty sure that you have at least one cotton clothing in your house. Cotton is popularly known as WHITE GOLD. The cotton trade is a very lucrative one, however the farmers of this WHITE GOLD are not finding things funny. They are burdened with a whole lot of problems, these problems includes poor working conditions, lack of government support, corruption, scams, etc. However, the good news is that a solution has come to the aid of these farmers. The solution is COTTON COIN.
The Cotton Coin Solution:
The Cotton Coin Solution runs on the blockchain. It would be old news if I told us that the Cotton Coin solution is decentralized and secure, as we all know that when a solution runs on the blockchain, it simply means that the solution is decentralized and secure.
Cotton Coin aims to combat the problems that are currently facing cotton farmers. You can call Cotton Coin the Messiah of the Cotton Industry. Cotton Coin mission is:
- To make Cotton more transparent
- To democratize the access to Cotton related information as a common property
- To enable technology to become the “authority”
- To reduce the scale and effect of epidemics and Cotton frauds in emerging countries all around the world
- To educate people through incentivizing conscious consumer behaviour
- To help small Industries to be more competitive
I bet you are as excited as I am. Cotton Coin has some features, which would be instrumental to the achievement of it’s set mission. Let’s take a walk through these features:
Peer-to-Peer Payment Network:
Cotton Coin is a platform on the blockchain that integrates all the parties involved in the Cotton Farm in one ecosystem via a trusted Token Transaction Ledger. This transaction ledger would be on a public network and it would enable payment via tokens.
With the transaction ledger, it is glaring that Cotton Coin has a peer-to-peer payment network. This peer-to-peer payment network can conveniently be used to replace fiat currency.
With this peer-to-peer payment network, instant payment is guaranteed and secured via MASTERNODE & PROOF OF STAKE. In return for allowing their nodes to be used, node holders get rewards daily.
Cotton Coin’s peer-to-peer network does not require third parties. This ultimately means that cotton farmers get to do financial transactions at little or no costs. Also, with DARKSEND, anonymous transaction can be made to other parties.
With this peer-to-peer payment network, cotton prices are fair since it can be monitored. This ultimately means that no one party in the Cotton Coin ecosystem gets cheated.
Ability to Track and/or Trace items:
Cotton Coin stores all transactional and cotton related information on a private blockchain. This private blockchain would be driven by a token known as the Transaction token. This token is internal.
With the ability to store all transactional and cotton related information, Cotton Coin enables the management of all operations relating to the cotton supply chain. Cotton Coin does this by ensuring that various high-end identification tools are applied to the different packages relating to planting, transport and final product. Identification is done via QR codes. COTTON COIN’s mobile dApps can then be used to read/write/update data about a tracked item.
With this feature, security is heightened. For instance, Transport A is supposed to take 3 hours to get to a location, but it ends up taking 5hours. A Cotton safety alert can then be triggered so that the party on the receiving end can check Transport A for any suspicious activities.
Also, with this feature, suppliers can be rated via an internal reputation system. This means that suppliers have incentives to always provide a better supply service each time.
Companies on the supply chain would have two wallets. The first wallet is the Cotton Coin wallet. This Cotton Coin wallet would be on the public blockchain, and it can be accessed via the Cotton Coin Mobile DApp. The second wallet is the Transaction Wallet. This wallet would be on the private blockchain, and it can be accessed via the Cotton Coin B2C Consumer mobile DApp.
Cotton Coins front-end Mobile DApps:
The B2B mobile DApp:
This is the admin DApp. This DApp has a whole lot of features. Some of these features are role based, this means that each role (e.g. Industry, refine house, packaging house etc.) has its own features so certain functions can be performed. However, there are two features that are general irrespective of the role. These two features are:
This simply means that the B2B DApp is readily available in a lot of languages. Cotton Coin is doing this so as to ensure that the Cotton Coin ecosystem is open to all and sundry. It is a norm for DApps to be in English Language, however the B2B DApp is multilingual. This bridges the gap for cotton farmers that don’t speak English. Hence, with Cotton Coin, language is, and never be a barrier.
The B2B DApp is a very amazing app, yet it is optimized for low-end phones. This simply means that you don’t need a high-end expensive phone to gain access to the Cotton Coin ecosystem. Your day-to-day phone can handle the B2B DApp.
The following features are however role-based. They include:
1 Logistic Transactions:
This feature comes in handy when receiving and sending the tools, cotton products etc. This feature can be used to verify information that was previously provided. Thus, this feature is used to ensure that the tools, cotton product etc hasn’t been tampered with during the transportation.
2 Cotton Safety Information:
This feature allows some properties of the cotton product to be specified. These properties includes, but not limited to weight, package number, farm number. This feature comes to play in different case scenario. Let’s use a case scenario, imagine if a farm has been known to provide quality cotton products. This farm can simply put its farm number under this feature, and consumers would find it easy to identify cotton products from that specific farm.
3 Identification Tool Management:
This feature comes to play during the inventory and ordering of identification tools and transactions.
4 Authority Tools:
As the name implies, this feature is basically used to authorize the authenticity/genuineness of an item. The DAPP uses the phone’s camera to read the barcodes (be it 1D or 2D) to identify the item. Hence with this feature, an item can be authorized for the next step in the supply chain.
5 Standard Interfaces:
This feature is used to give access to third parties. This means that with Cotton Coin, third parties logistics could be used. These logistics could include traceability solutions. With this feature, it is possible for third-party to be able to trace and track items in the Cotton Coin’s supply chain.
6 Reporting Tools:
This is the feature that enables all the parties in the cotton supply chain to get reports about the activities going on in the cotton supply chain. The reports could be daily, weekly or monthly.
The B2C Consumer Mobile DAPP:
This is the DApp made available for consumers in the Cotton Coin ecosystem. With the B2C DApp, consumers can view the history and properties of the cotton products that they want to purchase. This provides incentives for consumers, as consumers would definitely buy cotton products from farms that are known to produce quality cotton products.
The greatest news of all is that the mobile dApp is available for download on Android and IOS smartphones.
The Cotton Registry:
This gives an access for external authorities (be it national or international) access to reports from the Cotton Industries on the Cotton Coin ecosystem. These reports could include sales and export reports. For external authorities to gain access to these reports, all they need to do is to get the Cotton Coin’s mobile dApp, or they can as well connect their system to the Cotton Coin’s API.
Cotton Coin is not relenting on innovations, as they are working on a way in which the system would be extended with AI based smart pandemic. This would enable forecasting and alerting modules, to ensure that relevant authorities are prepared to limit/squash the effects of potential outbreaks.
Advantages of Cotton Coin:
1 Cost is very low, as there is no need for third parties. Also, even the cost of tracking an item throughout the supply chain can be as low as $1. I bet you’re smiling right now.
2 Customers would be attracted to ecosystem, since there is a DApp that can be used on low-end phones, as well as a token rewarding system to motivate customers.
3 With Cotton Coin using the blockchain, customers can be rest assured of security and decentralization
4 With the ability to track items, Cotton Coin has successfully etched out fraudulent activities of suppliers, and this means more profits for cotton farmers.
5 Participants in the supply chain get rewarded with tokens when they provide information regarding an item in the cotton chain supply
Mr. Ned is a cotton farmer from a third world country. Once Ned has harvested his cotton products, he finds it difficult to sell it, as centralized organizations request that all cotton farmers in his country register with them. Ned doesn’t want to register, because his registration means that the centralized organization takes a certain percentage from the sales of his product. And when Mr. Ned finally gets a buyer, the buyer doesn’t make instant payment, instead Mr. Ned has to wait for sometime before he gets payment.
However, with Cotton Coin, there is a silver lining for Mr. Ned. All Mr. Ned needs to do is to become part of the Cotton Coin ecosystem. Via this ecosystem, he gets a lot of buyers, and these buyers make instant payment. Also, no organization takes any percentage from the sales of his cotton product. In addition to all that, Mr. Ned gets to attract more buyers to his products, since he makes quality cottons.
Summary and Conclusion:
Farming is a business and with the Cotton Coin solution, cotton farmers can finally be able to go about their business while been free from the problems facing them presently.
Cotton Coin ensures that every party involved in the Cotton supply chain, starting from the growers to the buyers are all treated fairly. Hence every party involved in the cotton farming, from the growers to the buyers should take out time to review Cotton Coin and then strive to apply it in the cotton farming business.
Cotton Coin’s Token Specification:
Cotton Coin’s Team:
Cotton Coin’s roadmap:
For more information, check out the follow resources:
- Steemit Account
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