How can I buy food and agricultural products using FoodCoin?
Asked 8 months ago
I am starting to learn about Bitcoin from my husband. I have just heard about this thing called FoodCoin. How can I use it to buy food and agricultural products?
Friday, July 08, 2022
FoodCoin is a relatively new blockchain ecosystem based on the Ethereum blockchain (running as an ERC20 token). The idea behind it is to use the FoodCoin token (FOOD) as a node to validate transactions in an ecofarm. The moto behind it is simple - "Stop hunger and help a farmer". The project looks promising overall, but it's still in its early stages.
In its current stage of development, you unfortunately cannot use it to directly buy food and agricultural projects. The project looks quite promising though; according to its whitepaper, it promises to bring many different economic agents together in one place - the agricultural business. With FoodCoin, buyers and sellers of agricultural projects can get together in a space with insurance and logistic companies, all while everyone receives reduced expenses thanks to the FoodCoin ecosystem (FCE) and smart contracts.
Putting it simply, FoodCoin promises to make the agricultural space a lot easier, creating one big agricultural platform with the help of blockchain technology.
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