Overview of the Cotton Industry
Only those living in emerging Countries around the world will understand how deep corruption has soaked up the fiber and fabric of the existence of these Nations. Categorically speaking, the Cotton coin innovation will be properly appreciated by those living the third world Nations involved with cotton cultivation and its supply chain network.
Cotton often referred to as white gold, births a great economic importance. It is said to span about 2.4% of the world crop land, providing huge revenue in the process, its application is noticed in the textile industry as well as in bedding accessories. But with the positives from this industry, comes the monster of corrupt practices that has left the cotton industry stalled by fraudsters
This fraudulent activities creates a disconnect in the process, birthing a situation where the farmers, and the entrepreneurs involved in the production and supply chain network are deprived of the benefits of their venture. This therefore pushes the cotton industry to the dunghill of mediocrity. With this monstrous issues in sight, cotton coin came through the dark with a sparkle of light.
The Cotton coin Ecosystem
Cotton coin is a platform that makes the cotton industry smart with the application of smart contracts birthed by blockchain technology to sandwich trust into the ecosystem; this ecosystem accommodates consumers, the supply chain participants and authorities, recording all transactions and activities via a transaction ledger that cannot be edited.
Cotton coin has a grower to buyer blockchain trackability system on which all activities and transactions that surrounds the supply chain and be reviewed. This is facilitated by the B2B and B2C dApp.
With blockchain technology the Cotton industry becomes smart, transparent and traceable.
The Cotton Coin Principles and Solution
With the recent trend in eventualities, cotton coin intend to make the cotton industry self reliable and sustainable wading the ills of corruption in the industry; in the process building trust among participants of the supply chain.Cotton coin will eliminate corruption by instilling transparency through blockchain technology; going a step further with providing information for all involved to access. With cotton coin, the average cotton farmer and buyer is incentivized with tokens as the transact on the platform
With the interference of the third party, payment (right amount) made do not get the right hands (leaving the farmers in penury). But Cotton coin goes further with the integration of a peer2peer payment system where all transactions are executed without delays via crypto tokens in place of fiat currencies eliminating third party (banks) interference and activities of this fraudsters.
Imagined a system where all process that circumvents around the cotton industry is transparent and cannot be altered. With cotton coin all processes from planting, transporting and packaging are traceable with the use of identification tool, this identification tool records the movement of the cotton from the point of planting all through the supply chain to the final consumer.
Cotton Coin Trust Integration Mechanism
First off, it difficult for those who have been hurt through corrupt practices to flip their best foot forward when it comes to trust except there a proven mechanism that justify the premise.This is why Cotton Coin went a step further to sandwich features that will prompt the system, instigating alerts that might eliminate situations that would detect unhealthy occurrences.
Take for instance, Transportation of cotton from Port Harcourt to Porto is supposed to happen within 7days and the arrival is taking longer than normal this feature triggers off an alarm notification system that check the transport systems for irregularities.
Next off, this system embedded in the platform helps supply chain participants to scores their suppliers according to their level of performance during transactions and task execution on the network. This score cards are such that the higher score the higher the reputation and trustworthiness of the supplier. This reputation is also there for everyone to see, such that it helps participant in making their choice of the supplier
Another Mechanism by which trust can be integrated into the cotton industry is by the introduction of the Cotton Coin mobile dApp.
This dApp provides the history and the whole series of past events connected with the cotton produce and its quality and in the process it goes further to tokenize the users of this dApp with incentives. This mechanism hinged on the traceability, transparency and tokenization of blockchain births a situation where farmers leverage from the Cotton coin project to alleviate their plight. Cotton coin will make the process smart by the integration of a peer2peer instant payment system that will eliminate the action of scammers’ corrupt practices, who pretend to aid the process. Cotton coin will introduce a backend grower (farmer) to buyer traceabilty that will manager as much as a million transaction per day. With the technologies in place the farmers are given an opportunity to leverage on the smartness of the platform to get tokenized. With a floating information online emanating from @crypto.piotr FIRST SPONSORED REVIEW WRITTING CONTEST He signs up to Cotton Coin in a bid to make a fortune out his profession. With this comes the big bang effect, with cotton coin smart contract, Samson goes into a prospective transaction with Maxie a cotton buyer located in Port Harcourt who has signed up previously after obsevering how transparent the process can be. The condition for the transaction are agreed, written and encrypted such the Maxie uses the peer2peer Instant payment system on the platform to pay for the product in crypto-token (COTN) in place of fiat currency.
Cotton Coin solution to Poor Cotton farmer
With restriction or delayed in payment to farmers, the handwriting of fraudsters is painted in and around the cotton industry, most times acting as middlemen who facilitates transactions. But with the emergence of Cotton Coin comes a solution that will birth a rejuvenation of the trend in the industry.
USE CASE Senerio
Considering Samson a farmer in Lagos (Africa) invested the process of cultivation of Cotton (white gold), He has been in this lucrative cotton industry for quite a while but has been saddled with the pain of poverty and penury resulting from third party influence that pretends to help in remuneration as a result of the sales of his cotton produce, only to come up short with corrupt practices that has resulted in little, no payments and other times when payment are made they are mostly delayed.
In a case where the cotton does not arrive as at when due, the Cotton coin triggers an alarm system that births a notification and then the location of the cotton at that point in time can be trace. In a nut shell Cotton coin ecosystem birth a transparency and trust to the cotton industry as well as improving the remuneration of the farmers involved in the cultivation of white gold. With this in view it is eminent that Cotton coin is coming up strong with huge impact on the way to make the cotton industry smarter and reinvent the cotton industry in and around the world with a huge impression to be made on the third world economies
Benefit of the Cotton Coin on emerging Economies
Cotton coin rolls off the ill of the cotton industry; Cotton coin redirects the cotton industry making it a dependable source of revenue for emerging economies. This it achieves by re-igniting the passion of farmer by the creating an ecosystem devoid of fraud, where farmers are properly remunerated and tokenized. With this there will a drift of interest towards the cotton industry.Cotton coin tend to make small industries to be competitive. With the facilitation of cotton coin, there tends to be an envision boom in the cotton industry in the near future, this boom will increase employment opportunities, affect the transport system and foster economic growth.
Participant involved in all process surrounding the supply chain will be rewarded with COTN token for participation, this in the long run will serves a means of revenue generation for the citizens and the economy at large for mere using the dApp for monitoring the supply chain history.How Cotton Coin supply Chain Traceablity Models Works
Cotton products in retail, and the information stating their movement through the supply chain pathway can be traced down to the point of cultivation by the use of the Cotton Coin mobile B2B and B2C dApp.
With this dApp verifiable information is sent and received, this information includes the name of the farm, the weight of the cotton produce, parking number and transport verifying information. This dApp uses the phone camera to read barcodes and all of this information related to the product.
This intervention of cotton coin dApp models a huge improvement in the processes surrounding the supply chain as the product is properly monitored. Situations where the products are diverted away from it original destination are ruled out. The properties of the cotton that are intended for retail are read the barcode and QR code eliminating the activity of tricksters and birthing trust in the process
Cotton Coin Direct Instant payment link from buyers to Sellers
Cotton coin peer2peer system eliminates the activities of third parties such as banks who leverage off transaction proceedings in the cotton industry to drive home a huge turn up of profits as commission. With the elimination of this agents, cost is made effective and the actual cost charged for cotton produce, paid by the buyer are received directly by the seller at a relatively high speed that cannot be match third party agency.Overall impact of blockchain on the cotton Industry supply line
With much said about the Cotton industry and how it can be a huge means to upturn the economic trends in the third world emerging world emerging economies; corrupt practices of fraudster have gone a step further truncate the dividend that might birth a huge advantage
This fraudsters achieve this, by kicking off their activities, by venturing into the supply line and decimating the regularity of the sequence of events creating a sequence that might create a huge profit for them. This leaves the cotton farmers and supply line participants in penury.
But cotton coin platform comes up strong with an effective solution based on the application of blockchain technology; the industry applies the use of smart contracts. This smart contract monitors all transaction on the ecosystem making the whole process transparent. The buyer pays the token required for the transaction in COTN, this token is held up until the smart contract trigger a reception signal.The cotton coin ecosystem births two dApps that are used to deliver transport verifying information, farm name, weight and every characteristic feature of the cotton.
So with the intervention Cotton coin hinged on blockchain, births a cotton industry (cotton supply Chain) that is transparent and traceable
For More Information
Website:https://www.cottonco.in
Whitepaper:https://cottonco.in/wp-content/uploads/2018/06/Cotton-Coin-Whitepaper-02062018.pdf
Resteemed By @tisko Thank you for using our service!!@maxiemoses-eu
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Greetings @maxiemoses-eu
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
I hope my entry was in line with the requirement
Greetings @maxiemoses-eu
Thank you for your comment. We have similar hope. Gonna have to read and check over 50 reviews soon :) Yeah! :)
Also 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
Thanks for sharing this information.
I appreciate your comment and your time to go through this piece your most definitely welcomeHi @rentmoney
I love to see how responsive you are @maxiemoses-eu
Steemit need people like you :)
Yours,
Piotr
I tried my bit, but the process was massively demanding,
..................hopefully it helped you with your decision, right @crypto.piotr?
I know @maxiemoses-eu, I know.
You indeed helped me a lot :)
Lol............ whats else would I have done in place of helping you...
It has all been a pleasure
Dear @maxiemoses-eu
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
In jest yes, but few know how programming is becoming automated. With AI, my statement becomes worthy remembering.
And then there is the way computers have tilted our brains to the logic side. There is a reason why we pay professional sports and entertainers so much.
Hope you understand what I mean @machnbirdsparo
agreed. i was just getting into the debate of power vs money > real goods vs. credit
both have their place, but one requires interpretation and the other is apparent
Do have a piece on this it might turn out interesting to see the analysis.
I wish to understand the full blown analysis of power in contrast to money.
I was thinking that those with money have the power to do as the please. maybe thats why Rich nation suppress poorer nations stripping them of the returns in the cotton industry
Thats the more reason why the most times most rich nations kick against blockchain.
I used the example of real goods vs credit. That is a business example. When money is not backed by gold or anything else, it is only good as credit.
The example we teach in America is how kings had army and merchants had money. The kings had their faces on the money that the merchants were trading.
Knowledge is power. Americans take very seriously their right to bear arms. Money is a medium of exchange. Power, like the kings' weapons, are real. Money (not backed by gold) is only as real as we wish it to be at a given time. Civilizations at peace use money. Poor people and in times of survival its all about power.
As much an emphasis we place on money there is even more on power. But, few people ever need to concern themselves with that. Maybe also those living off the grid.
Power in this context is more about personal power. Consider a country with a good economy because it sells luxury items versus a country that owns oil used to power cars and ocean liners. Power is needed. Money is wanted.
It is easy to see the difference when there is a close comparison. Obviously each can acquire the other to some extent.
i think with illustrative contrast I have a glimpse of the picture/
I like to ask are you a philosopher, your rate of dividing information is classy
I have a degree in aviation and worked in a library in NJYC metropolis. Through it all there was a decent amount of philosophical discourse.
dfasd
??
I wish I understand your context
I know my poece might not be as nice as I think
its most likely left for @crypto.piotr and many more others to decide
I have been seeing your reviews almost everywhere, and finally i checked you up and saw your awesome entry @maxiemoses-eu. I honestly think you did a wonderful job here. lovely anology and great formatting. congratulations in advance @maxiemoses-eu
@antigenx thank you for the time you took out your schedule to check up on my piece.
For me it more like a trail to have an understanding of the different perspective of different individuals connected to the cotton coin contest.
Thank you for your congrats in advance, but we have many more qualitative entry. it must be hard for the organizers.
Well detailed post friend and you also took your time to add a few explanation well done! 🙌🙌🙌
You even took the time to stop at my blog
thank you
thank you
thank you
Your far too kind
You talked about details, the cotton coin project is simple to understand.
The details are properly spelt out in the WHITE PAPER that why I had the link tie to my piece.
I like to ask you a bit further what is your assessment of the project on a scale of one to ten?
On a scale of 1 - 10 i give it 7 because the project looks viable and can easily be implemented in continents like asia, south America and North America where agriculture is a fraction of the major sector of their economy they are likely to encounter little challenges in Africa due to high level of illiteracy among African farmers.
I hope this answered your question correctly
Cheers
Amikable
Hmm..... yes to a great extent it does and I foresee you have a good grip of too many fact surrounding global issues circumventing around this case.
But almost everyone in and around Africa has a smart phone, don't you think 'the dApps sliding of mobile telecom will help reach out to more people in those societies?
I wish I don't have to boarder you with too many questions but your level of knowledge is more than whats is held in a book store.
Yes everyone now uses a smartphone but let me give an instance when I was doing my project field work I was working on farmers and the level of access to financial services and investment level and productivity pattern. I noticed something that baffled me some of them most of them cannot read and don't use smart phones a good number of them communicate through their children (who are educated or still in school) some of them are not willing to change to better ideas proposed by extension agents they prefer the crude and old method of farming which is not good and suitable for large scale production.
This is a general attribute of farmers in Africa and in particular Nigeria. But I know that with time and with proper senstization as long as the right things are put in place that there will be improvements.
Amikable
waoooooooooo...............................
This is a real bad situation sorry seems to come in the final third.
How then can Africa advance. this is sick and frightening.
With the stats you have given I see you have the records and experience first hand.
But there must be a way. What do you think would birth success in this line of direction.