Cotton Coin – Enabling Value Across the Cotton Supply Chain by oivas

blockchain · @oivas · Jun 30 '18 (edited)

$17.02

Cotton Coin – Enabling Value Across the Cotton Supply Chain

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<h2><strong>Introduction</strong></h2>
https://cdn.steemitimages.com/DQmRgoHRJzsZY3S3UKyJsi6fKW3FHB52RCr4nEexQbzYGHG/Cotton%20Coin_Intro.jpg 
<p>Cotton is one of the well-known crops and is referred to as the “White Gold”. It is one of the commonly available commodity and is part of our lives in many ways. From the dress we wear to the bedding and bedsheets we use, cotton touches our lives in more than one way. Our summer dresses are usually made of cotton to save us from the heat as much as keep us cool. Cotton garments are easy to use and maintain and therefore, is one of the popular choices when it comes to garments; especially, in countries with hot climate. Well, that’s the great and beautiful life of a cotton. &nbsp;</p>
<p>Now, if we are the curious kind and want to know more about where the cotton comes from and how it reaches our wardrobe, the picture is not as great as what we have seen so far; in fact, grim is the word for it. Cotton’s wide use may make us feel that the participants in its growth and supply must be really making a killing in money terms. But that is far from the truth. In India, one of the suppliers of cotton, farmers are committing suicide because of not being able to make money from selling cotton. They are burdened with debt and leave behind a family with no means to support themselves. Why is it so?&nbsp;</p>
<p><strong>Cotton is investment heavy but revenue light.</strong> What do I mean? Cotton requires heavy investments in pesticide and insecticides, roughly 11% and 24% of global sales for all types of crops. In countries like India, Pakistan, and others, which lack proper irrigation channels, rain is the main source of water still. Global Warming, Ozone Depletion, and other environmental pollution have only made the monsoon dependent reality even worse. We have not even touched the supply chain yet. If we do, lack of proper pricing mechanism, delayed payment, informal loans with heavy interest rate, inefficient supply chain, government inability to ensure benefits reaching the source, corruption, and obsolescence during storage are just about few problems amounting to touching the tip of the iceberg. We don’t even have a sense of the remaining part of the iceberg which is out of sight. &nbsp;</p>
<p>It is like saying that the beautiful cotton dress that we wear seems to have had a grim past! &nbsp;</p>
<h2>Is there anything that can be done?</h2>
<p>Well, apparently, yes. Most of the problems have solutions but the solution in this case at least, needs to have an out-of-the-box approach. Now, traditional approach would say, just improve the supply chain, make it accountable, and make it transparent by framing policies enabling it. Easy to say but how do we do it?</p>
<p>Government policies have a lead time to trickle down and the illiterate demographics of most of the farmers in the chain, disallows them to know about the benefit leave alone utilizing it. Governments may have the right intention but it is difficult to monitor right up to the last piece in countries like India and China which have mammoth population to take care of.&nbsp;</p>
<p>So, in a nutshell, if we can have a solution which can make every loop in the chain visible and every transaction transparent without a possibility of corrupting information, then we would have hit the right block. But do we have such a solution?&nbsp;</p>
<p>Yes, the solution is blockchain and Cotton Coin brings such a blockchain solution for the cotton industry.&nbsp;</p>
<p>-----------------------------------------------******---------------------------------------------------</p>
<h2><a href="https://cottonco.in/"><em>Cotton Coin</em></a> – Let’s get to know them &nbsp;</h2>
<p>Now blockchain was a concept brought forth through the Bitcoin platform in 2008. Thanks to the revolutionary concept, few aspect like decentralized working, immutable ledger and multi-party collaboration becomes quite easy. The concept thus is taking many industries by storm. From Finance to Legal, from Sales to Trading, all the industries are witnessing the benefits of the blockchain technology.&nbsp;</p>
<p>Cotton Coin goes one step further and brings the blockchain concept to the Farming world. It’s success will ensure that all the negative aspects that we saw under the supply chain side of the cotton crop, including farmer suicides, can be handled with care; more about that soon. This is one blockchain initiative which has a human touch!&nbsp;</p>
<p>Cotton Coin’s website describes the initiative as:&nbsp;</p>
<blockquote><strong>Cotton Coin is a humanitarian effort created to give hope, save life and make money.</strong>&nbsp;</blockquote>
<p>To be honest, this is a vision good enough to transform the cotton industry.&nbsp;</p>
<p>-----------------------------------------------******---------------------------------------------------</p>
<h2>How does it work?</h2>
<p>Cotton Coin intends to bring the supply chain participants, farmers, consumers and authorities on the same platform for an easy, reliable and efficient mean of transacting. What it does is it removes third party involvement and brings about visibility which was anyway something that governments in these cotton producing countries were vying for. This solution, despite the government intervention, will bring about efficiency and prosperity to all in the network.&nbsp;</p>
<p>Imagine, the benefits that could reach the farmer, the price of cotton falling because of third party elimination and a whole new focus on cotton by the garment industry because of the renewed price-point! Many of these mentioned points are the effects that will be felt because of the solution, the actual beneficiary would be the farmers, and in turn, their families, and societies at large.&nbsp;</p>
<p>The solution foresees that once implemented the ecosystem will be serving more than 30 million participants across the globe. Two distinct DApps (applications), one B2B and the other B2C, will help to authenticate cotton sources, track delivery and monitor cotton prices.&nbsp;</p>
<p>Some of the immediate benefits are:</p>
<h3>Instant Payment&nbsp;</h3>
<p>This is one of the ailing issues of the cotton industry. Delay in payment to farmers ruins their lives and livelihood. With Cotton Coin that is set to change. Cotton Coin has taken measures to avoid miners to mine coins and dump them in the exchange to make profit, rather the idea is to allow the industry participants to use and arrest volatility and bring about benefits to each in the chain.&nbsp;</p>
<h3>Versatile Traceability System&nbsp;</h3>
<p>This is an important aspect bringing visibility to the otherwise hidden cotton supply chain. All points of movement of the cotton crop from the farmland to the end customer can be tracked. This can be enabled through integration of multiple technologies like barcode scanner at the warehouse, etc. and bring an unified view to the supply chain. &nbsp;</p>

https://cdn.steemitimages.com/DQmfUtP9r8zfTrK1Urgt8aGru9wDnAi5jvToW4iBMKdtC1d/Cotton%20Coin_SupplyChain.jpg 
<h3>Cotton Safety Alert&nbsp;</h3>
<p>This is an additional feature at any point of the supply chain where the cotton takes more time than usual to move. This can trigger an event for investigation.&nbsp;</p>
<h3>Reputation System&nbsp;</h3>
<p>This brings in the aspect of every loop in the chain rating the previous loop on cotton movement. This improves the credibility and reputation of few farmers or supply chain participants over the others and hence a better demand from them. Because of such healthy competition, the whole chain will transform into one with credibility and better reputation.</p>
<h3>Conscious Consumer Behaviour (B2C)</h3>
<p>This allows consumers as much as retailers to track the cotton right up to the source and show responsible behaviour in purchase. The B2C DApp is as shown in the figure. &nbsp;</p>

https://cdn.steemitimages.com/DQmPHZ9YAXjNpqSsU6rbQjyJkAEhYbhjKXtiwErVRWBN4mj/Cotton%20Coin_B2C.jpg 
<h3>Industry Management Tool (B2B)&nbsp;</h3>
<p>All the data and information available on the blockchain are only as useful as the ability of the system to make it useable for different participants. So low-end phones with multi-lingual capability is good enough to run the DApp. It will take care of the farmers as much as the local language of the users.</p>

https://cdn.steemitimages.com/DQmb1uqGb55mV6hbghwvuSi6RuJbhCDabUKZLhDqvUbRwoj/Cotton%20Coin_b2b.jpg 
<h3>Cotton Registry&nbsp;</h3>
<p>In my opinion, this is the single biggest visibility tool that Cotton Coin brings forth. Both domestic, as well as international participants, and consumers can have visibility of the chain. Not only that but also it comes with a number of reports which can be easily available to consumers, retailers, authorities, and supply chain members. It improves trust through the chain as much as brings visibility to the supply-demand schema and therefore, allows proper management of price and volatility.&nbsp;</p>
<p>-----------------------------------------------******---------------------------------------------------</p>
<h2>Use Cases&nbsp;</h2>
<h3>Anti-Adulteration Monitoring</h3>
<p>Country 2 imports cotton or cotton garments from Country 1, however, there is a slight distrust on the quality of the cotton and doubt on its possibility of being adulterated at any point in the transit or initial packing. There is however, no way to find this directly but only through a lengthy investigative process where authorities from Country 2 travel to Country 1 for the investigation, sampling and then verifying. &nbsp;</p>
<p>In comes Cotton Coin and the entire equation changes. Cotton Coin’s open ledger has captured all the relevant information from the time of the Cotton Registry, to the Supply Chain Movement, including delays at any point, which could be construed as an attempt to involve in unbecoming trade behavior. This is information enough for Country 2 to nail any such doubts without having to spend too much energy themselves. In fact, this is also incentive enough for Country 1 to be vigilant of such trade misbehaviours which can hamper its image and therefore, foreign revenue.&nbsp;</p>
<p>In-built corruption and misbehaviour handling mechanism!</p>
<p>-----------------------------------------------******---------------------------------------------------</p>
<h3>Demand – Supply Shocks</h3>
<p>Country 3 imports cotton from Country 1 and Country 2. Country 1 and Country 2’s annual production is 100 tonnes (as an example) and 200 tonnes, respectively, and they supply 80 tonnes and 120 tonnes to Country 3, respectively. In other words, Country 3 imports 200 tonnes from Country 1 and 2. The remaining production from Country 1 and 2 is supplied to other demands.&nbsp;</p>
<p>Year 2018 was a bit different. There was a long-drought situation in Country 2 but Country 1 had a bumper year. The production of Country 1 was 200 tonnes whereas Country 2 fell to 50 tonnes. Now, Country 3 does not have the information of bumper production in Country 1 and fall in production in Country 2. When the reality of shortfall comes to the fore, it is too late for Country 3 to work out contingencies. By the time it does work out the contingencies, there is a spike in prices across the globe, until the situation is rectified.&nbsp;</p>
<p>In comes Cotton Coin and the situation changes. Country 3 can see that the Cotton Registry report of both Country 1 and 2 and realizes the shortfall that is expected. It now has time to plan the orders even before the supply from the countries start. So, Country 3 now orders 150 tonnes from Country 1 and 50 tonnes from Country2 and is still able to meet its own demand for 200 tonnes of cotton. Demand spike was muted even before it could take place and hence the volatility was arrested. Also, notice, that country 1 can still meet the other demands (other than country 3) bringing down the overall total demand fall to only 50 tonnes and therefore, a minor spike in price as compared to the situation where no demand could be met.</p>
<p>-----------------------------------------------******---------------------------------------------------</p>
<h2>Pest Warning&nbsp;</h2>
<p>Country 1 and 2 are neighboring countries supplying cotton. The Cotton Registry shows that there is a huge drop in cotton production in Country 1, and a bit of report reading shows that the possible cause is due to insects. Since Country 2 shares its boundary with Country 1 and has the same conditions as Country 1, the insect attack on their crop is imminent. But the information through Cotton Coin gives them time to take precautionary measures and therefore, save the crops. &nbsp;</p>
<p>The unforeseen impact of this is that Country 2 still is able to produce as per its annual target and therefore, is able to meet global demand in a better way. Any demand shock would be minimal.&nbsp;</p>
<p>In a situation devoid of cotton-coin, both Countries would have been affected by the pests leading to high amounts of crop-loss and therefore, supply shortage and price spike. In other words – volatility.</p>
<p>-----------------------------------------------******---------------------------------------------------</p>
<h2>So, who are the great minds behind Cotton Coin?</h2>
<p>Here is a snapshot of the team behind Cotton Coin, of course, our very <em><strong>own Piotr Leib</strong></em>, is also one of them. &nbsp;</p>

https://cdn.steemitimages.com/DQmamcJYnFk4EGBsCi8NVyiNzLf9UyRbvx2YkNH17J9hkLk/Cotton%20Coin_Team.jpg</p>
<p>-----------------------------------------------******---------------------------------------------------</p>
<h2>Summary&nbsp;</h2>
<p>Cotton Coin is a great example of a humanitarian effort empowering the participants and therefore, making a sustainable business model as much as livelihood. A farmer gets paid instantly for his produce, the supply chain can trust people based on reputation, authorities can enjoy visibility and frame sustainable policies, and international and domestic markets can appreciate the end-product in their hands and can trace them right up to the source. These are all but few of the things that Cotton Coin enables.&nbsp;</p>
<p>It sure is a promising solution and will definitely improve the lives of millions of farmers!&nbsp;</p>
<p>-----------------------------------------------******---------------------------------------------------</p>
<p>It is also recommended that readers understand more about Cotton Coin through any of the following informative resources.</p>
<ul>
  <li><a href="https://www.cottonco.in">Cotton Coin Website</a></li>
  <li><a href="https://cottonco.in/wp-content/uploads/2018/06/Cotton-Coin-Whitepaper-02062018.pdf">Cotton Coin Whitepaper</a></li>
  <li><a href="https://steemit.com/@cotton.coin">Steemit</a></li>
  <li><a href="https://www.facebook.com/Cotton-Coin-COTN-462763754153370/">Facebook</a></li>
  <li><a href="https://twitter.com/CottonCoin?s=03">Twitter</a></li>
  <li><a href="https://t.me/joinchat/AAAAAE72k5i5j4jsyZo5kA">Telegram</a></li>
  <li><a href="https://bitcointalk.org/index.php?topic=3912330.new#">bitcointalk</a></li>
  <li><a href="https://github.com/cottoncoin/cottoncoin">GitHub</a></li>
</ul>
<p>-----------------------------------------------******---------------------------------------------------</p>
<p>This article is a review of the Cotton Coin blockchain in response to @crypto.piotr’s request on author’s views. It can be read <a href="https://steemit.com/contest/@crypto.piotr/cotton-coin-technology-my-first-sponsored-review-writting-contest-130-usd-in-rewards-pool"><em><strong>here</strong></em></a>.</p>
<p><strong>Image Courtesy:</strong> Cotton Coin Resources</p>
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👍 buildawhale, booster, mercurybot, ghasemkiani, arcange, machnbirdsparo, crypto.piotr, oivas, raphaelle, arv1, neavvy, bakedsalty, lusinehakobyan, hronys, compasscob, swayspleeny, gcsethy, danielwrites, palmcomposed, footagecache, benrest, lanemva21, nevisajar, quantushower, hexagoncanadian, definitefeed, cotton.coin, steemitboard, hardaeborla, markhinnebusch

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@a-0-1 · Jun 30 '18

upvote for me please? https://steemit.com/news/@bible.com/6h36cq

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@steemitboard · Jun 30 '18

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👍 oivas

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@tts · Jun 30 '18

To listen to the audio version of this article click on the play image.
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👍 oivas

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@booster · Jun 30 '18

<p>This post has received a 6.54 % upvote from @booster thanks to: @oivas.</p>

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@danielwrites · Jun 30 '18

A solid entry and definitely one of the most precise and informative I've read thus far regarding this topic.Big Ups @oivas and goodluck to you !

👍 oivas

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@oivas · Jun 30 '18

Thanks @danielwrites! Thanks for taking time to read through!

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@danielwrites · Jun 30 '18

You're welcome mate :)

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@crypto.piotr · Jul 2 '18

I love seeing how responsive you are @oivas

Steemit need people like you :)

Yours,
Piotr

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2 replies

@cotton.coin · Jul 2 '18

<div class="pull-right">
https://cdn.steemitimages.com/DQmfNkuH9ThTeEZBHSDfqhXDdVBUufdsmosHn4pLm7PWmo2/cotton%20coin%20logo-smallest%20-%20png.png</div>
</div>

Greetings @oivas

![linia2-small.png](https://cdn.steemitimages.com/DQmQmCjUG3hWLEfxGdooQyhG8udxwG5aiyMFLuCkL3Z9tuT/linia2-small.png)

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 14/07/2018. 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](https://www.cottonco.in)

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@crypto.piotr · Jul 2 '18

Dear @oivas

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

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@oivas · Jul 2 '18

Hello again,

I did read your post and I must admit that I am running a bit busy both in Steemit and outside it. Let me miss this one but I promise right away that the next time you need me, I will make time for you. For sure.

I hope you don't mind.

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@crypto.piotr · Jul 8 '18

Absolutely @oivas

Im fully aware that we all have lifes and responsibilities outside steemit :)

Enjoy your weekend mate,
Piotr

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1 reply

@ajongcrypto · Jul 2 '18

I’m happy to read this post, solid and so much value in it. Thank you for supporting @crypto.piotr and Cotton Coin. Good luck.

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@oivas · Jul 3 '18

Thanks @ajongcrypto! Thanks for stopping by. :)

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@ajongcrypto · Jul 3 '18

My pleasure @oivas, hope we take advantage and support this great project.

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@larik359 · Jul 3 '18

**Ru**
Приветствую. Представляю студию блокчейн-копирайтинга. Предлагаю наши услуги по написанию WhitePaper, созданию видеороликов , написанию уникальных статей и обзоров (в том числе для steemit), переводов.  Огромный опыт и большой штат сотрудников. Списко наших услуг и портфолио в нашем [телеграм канале]( @contentmakerstudio) или на [сайте](http://contentmaker.studio).
**En**
Hello everyone! I present to you our blockchain copywriting studio. We propose to you next services: writing WhitePaper, creating videos, , translations, writing unique articles and reviews (Including for steemit). Extensive experience and highly qualified team. List of services and portforlio in our [telegram channel](@contentmakerstudio) or on our [website](http://contentmaker.studio).

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@solcross · Jul 4 '18

Good article. Covers almost everything. Recommended

👍 oivas

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@oivas · Jul 4 '18

Thank you @solcross! Nice to hear from you.

👍 solcross

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@machnbirdsparo · Jul 4 '18

<blockquote>...single biggest visibility tool that Cotton Coin brings forth….visibility of the chain...reports which can be easily available ... improves trust through the chain a.... supply-demand schema and therefore, allows proper management of price and volatility.</blockquote>

I believe visibility is critical to the Cotton Coin and any true public blockchain. Allow me to add that possibly the most overlooked, and certainly the most under media covered aspect, are the logistical advantages for enterprise management.


One of my top contest entry choices :) Hope to read more of your stuff in the future.

👍 oivas

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@oivas · Jul 5 '18

$0.08

That's correct. We are deploying blockchain solution for a photocopier company and the logistics visibility that has come through is hitherto, beyond the scope of any IT solution. So our customer is really happy. In saying so @machnbirdsparo, you have hit the nail right on its head.

Thanks for stopping by and taking time to read!

👍 machnbirdsparo

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@machnbirdsparo · Jul 5 '18 (edited)

<blockquote><center>"beyond the scope of any IT solution" </center></blockquote>
May I quote you in the logisitcal context presented here? And if I may be so bold as to ask, would you care to elaborate on "logistic visibility"? Note: I am not unfamiliar with business machines.

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2 replies

@bumshak · Jul 5 '18

Hey @oivas,
I'm helping @crypto.piotr to evaluate the contest and think that your article deserves to be in the top 10. 

Great structure, easy to read and understand. Also I like that you show specific use cases and keep the article interesting to read for the readers. Keep up the good work!

👍 oivas

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@oivas · Jul 5 '18

Thank you @bumshak! Really appreciate your kind words!

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@hardaeborla · Jul 5 '18

Nice write up. This is very impressive. You've nailed the concept and the whole process behind Cotton Coin. Nice write up once again! I wish you success 💗🙌.

With love from @hardaeborla

👍 oivas

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@oivas · Jul 5 '18

Thank you @hardaeborla! :)

👍 hardaeborla

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@hardaeborla · Jul 5 '18

You are very welcome 💗

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@maxiemoses-eu · Jul 5 '18

As I kept on reading you piece, I got interested in what cotton coin had up for the cotton industry.

And on behalf of @crypto.piotr I wish you the best in this contest

👍 oivas

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@oivas · Jul 6 '18

Thanks @maxiemoses-eu!

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@neavvy · Jul 6 '18 (edited)

Great article, definitely one of my favorite. You provided a lot of information covered in a clear, interesting structure. Your post is quite long, but it is still interesting to read every paragraph of it. Thank you for your engagement and professional approach. I wish you best in Piotr's contest!

P.S. I followed you and hope to see more interesting content on your profile :)

👍 oivas

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@oivas · Jul 6 '18

Thank you @neavvy! Thanks for taking time to read through. I know it is a bit long but could not help it. :)

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@antigenx · Jul 6 '18

this is one of the best selling posts i have come across about cotton coin, it was worth every second i put in to review it.  i think you would emerge one of the winners. congratulations in advance
@antigenx

👍 oivas

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@oivas · Jul 6 '18

Thank you @antigenx! Unless you are one of the judges, we will have to leave it to @crypto.piotr to decide.... :)

Thanks for your kind words!

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