Cotton also known as "White Gold". As a result of insatiable appetite for cotton in the garment and bedding industries, cotton has become the most demanded commodity.
Cotton is the world’s most commonly used natural fibre and is in nearly 40 percent of our clothing. Although cotton has a clean, wholesome image long cultivated by the garment industry, in reality, it is not. This thirsty little plant drinks up more than its fair share of water. It can take more than 20,000 litres of water just to produce 1kg of cotton; equivalent to a single T-shirt and pair of jeans!
Cotton is one of the most chemically dependent crop in the world, while only 2.4 percent of the world’s cropland is planted with cotton.
20 million tonnes of cotton are produced each year in around 90 different countries which include; China, United States, India, Pakistan, Uzbekistan and Brazil which account for over 75% of the global production.
Problems faced by third world cotton farmers
The cotton industry has been plagued by various problems:
- Poor working conditions,
- Delayed payment to farmers,
- Poor quality cotton,
- Environmental pollution,
- Lack of government support,
- Corruption and more.
- Global warming and ozone depletion made the weather highly unpredictable.
All these affect the quality, consistency and sufficiency of the crop.
Working closely with key players in the industry to resolve procurement issues and improve global distribution, we realise that the trust factor among consumers, supply chain companies and authorities is no longer there.
The cotton industry is threatened by debates, lawsuits, corruption, and scams, that even data coming from a third party traceability system is viewed with suspicion by the participants.
How does Cotton coin solve this problem?
These problems was what led to how trust can be brought back to the in cotton industries in term of FINANCE.
Cotton coin ensures that the cotton related data can not be corrupted or modified in any way, by any party.
Thanks to Satoshi Nakamoto, the anonymous creator of Cotton coin, we now have the most appropriate solution.
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 will work as a peer-to-peer payment network using fiat currency for instant payment.
DApps used by Cotton coin
Cotton coin intends to create a growers-to-buyers relationship which will be transparent to all, These DApps are to be used by 6,000+ companies, managing more than 400,000 transactions each day and reaching 30 million people through the world, with the help of our agents and distributors. B2B dApp helps
- authenticate cotton sources,
- tracks delivery and monitors cotton prices.
B2C dApp assists consumers in buying cotton directly.
Once ready, our versatile solution will help 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.
We believe that building a self-sustainable business is better than any type of government aid.
Cotton coin has an airdrop going on now.
Click here to participate
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