What is Cotton Coin?
Popularly known as white gold, cotton is the world’s most in-demand commodity. It is the most commonly used natural fibre and is in nearly 50% of our clothing and 80% of our bedding accessories. Although cotton has a clean, wholesome image long cultivated by the garment industry, in reality, it is not. Cotton is one of the most chemically dependent crops in the world. While only 2.4 % of the world’s cropland is planted with cotton, it accounts for 24% and 11% of the global sales of insecticide and pesticides respectively. Some genetically modified (GMO) varieties, which are resistant to some insects and tolerant of some herbicides, now make up more than 20% of the world’s cotton crop. About 20 million tonnes of cotton are produced each year in around 90 different countries. China, United States, India, Pakistan, Uzbekistan and Brazil account for over 75% of the global production.
COTTON COIN resolves these major issues by using blockchain technology where all data and interactions are auditable, transparent and secure way on COTTON COIN’s distributed ledger. COTTON COIN’s versatile solution enables instant peer-to-peer payment, cotton authentication and grower-to-buyer traceability. It also features two front-end dApps for the B2B and B2C markets, offering a plethora of services such as cotton advice, live price monitoring and comprehensive tracking.