“And when that cotton gets a rotten you can’t pick any more cotton.” (Lead Belly - 1940)
"I have cotton or flannel sheets, depending on the weather. They have to be ironed, and I get my bed changed nearly every day." (Martha Steward - 2013)
History shows a great demand for cotton.
Joe Cool walks down the hallway balancing his coffee in one hand and his notebook in the other. He trips on a step he didn’t see and spills a drop of coffee on his new white shirt. There is nothing he can do to clean the stain so he doesn’t think twice before throwing it away and buying another shirt.
Advertisers make the cotton industry look sensual.
While large countries subsidize cotton, farmers in small countries like Mali cannot compete for the textiles industry's demand for low cotton prices. Farmers and their families suffer with no hope for the future.
In countries like Uzbekestain cotton is a mainstay of the community so when it comes to cotton harvest everybody is out picking cotton whether you are a doctor a nurse or a school child. Workers suffer back breaking labor and blisters and sores. They are subject to pesticides and health risks in the fields, but often the workers are not paid or they are under paid.
The normal stress of a cotton farmer is enough to drive them to the brink but add a natural disaster and there seems to be no hope.
Heavy rains or drought have driven Indian farmers to suicide. Forbes reports Every 30 Minutes an Indian Farmer Commits Suicide. Although farming techniques and seeds have improved, farmers who invested money in seed often fall into debt when the rains don’t come or come too heavy. Farmers end up killing themselves by consuming the very pesticides they went into debt to buy. The future looks bleak for young farmers. At the same time textile industries profit from low cotton prices Pollution and poor working conditions burden farmers. Payments are delayed and lack government support. Farmers meet corruption and scams only to find that their crop is destroyed by foul weather.
What would happen if the whole cotton industry could work on a decentralized system without interference from centralized banks and government?
Could there be a way to use blockchain technology to benefit both cotton farmers and their customers? Could one crypto currency help to authenticate cotton sources, track delivery, report issues and monitor cotton prices? I’m sure it could.
This is exactly what COTTON COIN technology aims to do.
I took some time today to read over their white paper and mission at https://cottonco.in/ . Their mission is “saving lives through technology.” The COTTON COIN makes sure that the cotton related data cannot be corrupted or modified in any way, by any party. COTTON COIN uses a peer-to-peer payment network bypassing corrupted intermediaries and can manage more than 1,000,000 transactions each day. A total supply of 20,000,000 COTN will be made available to users across the world. COTTON COIN could be used to authenticate cotton sources, track delivery and monitor cotton prices. The COTTON COIN will help solve a lot of the problems in the cotton industry. Most importantly it will help to fight of corruption by enabling technology to become the “authority.” This will build trust among the cotton supply chain companies, consumers and authorities.
Peer to peer payments by cotton coin will solve the problem of slow and non-payment agents and provide instant payments for famers and costumers and the international market.
The Cotton Coin Technologies team has already developed a mobile dApp for inventory and purchases that works through a bar code. As long as it is on the block chain no one can mess with the data any more. This gets rid of the mistrust between costumers and farmers and authorities. As long as it is in the block chain the data is common property to all involved. The data becomes transparent to the public. This makes a difference in the integrity of the industry and will save lives.
Feel free to check out the white paper for any inquiries into the COTTON COIN and its applications.
I also recommend checking their web page www.cottonco.in for any technical questions or just stop by if you are curious. I’m thankful to Piotr Leib @crypto.piotr on Steemit for introducing this wonderful technology to me. I hope it will revolutionize the cotton industry to give a new era of farmers hope and give me reassurance that my undies are protected and kept decentralized thanks to blockchain technology. Given global demand and industry needs for decentralization Cotton Coin Technologies through Shiv Kumar and his team will bring life to the cotton industry.