Topic: [POLL]bean(XCC) - Cocoa Farmers and Financial Inclusion (Read 114 times)

Hi Tippytoes,

Thanks for your message. The main advantage of bean is through a digital token pegged to the price of physical cocoa, we are able to offer a financial inclusion solution to rural cocoa farmers that are currently unbanked and unidentified and provide traceability through the value chain from the farmer who grew this cocoa all the way to the retailed bar of chocolate you buy in your supermarket and this can be viewed as a QR code on the chocolate bar. Nowadays, we are conscious of where our food comes from and when next you are in a supermarket, you may see some chocolate bars that have a fairtrade label on them signifying the farmer has been paid a fair price. With bean, via a QR code on a chocolate bar, you can view the story of the farmer, how much they got paid and the journey from tree to bar. We are working with businesses at all stages of the value chain including shipping, export, warehousing, processing and retail. We are benefitting from blockchain technologies to reduce transaction fees for cocoa players along the value chain especially chocolate manufacturers aiming to achieve 100% sustainable cocoa in all their products as well as ethically conscious consumers who want to know the sourcing conditions of the cocoa in their chocolate.

So, if you were in a supermarket and wanted to buy one bar of chocolate and let's say you had an option to buy a bar that could also tell the story behind the cocoa used in it, would you be intrigued to try it?

I'll just purchase my cocoa requirements in the nearest supermarket/chocolate shop rather than making my life so complicated with this token. How can you address such scenario that it's better to buy that in the nearest store if you only need small amount? Or contact your local supplier rather than paying the additional shipping fee if purchase from your website? What's your major advantage for this platform?

Thanks for reaching out Rick. We are currently selling bean (XCC) tokens on our presale and presently this is at a 27% discount on the price of cocoa. XCC tokens are asset backed by physical supply of cocoa in our warehouse and we are only promoting to early adopters in the cryptospace via Bitcointalk for now. The discounts present an arbitrage opportunity to seasoned cocoa traders and speculators and wouldn't want them to dominate this early on. However, after the pre-sale ends, XCC tokens will be a stablecoin pegged to the daily price of cocoa quoted by the International Cocoa Organization and we will definitley be interested in promoting our tokens to a wider audience then. Will keep in touch.

You can read our whitepaper here https://bean.digital/whitepaper/

bean (XCC) is an ethereum based digital token and one bean or 1 XCC represents 1 gramme of cocoa. Cocoa is one of the world's oldest currencies and bean (XCC) is bringing back cocoa as a medium of exchange, store of value and unit of account to cocoa farmers who lack financial inclusion; physical cocoa buyers who lose money due to cross currency transaction costs/dealing with middle men; and everyday people that want to speculate on cocoa prices but can't afford the minimum trade on cocoa exchanges (~US$20,000).

www.bean.digital

bean(XCC) pre-sale is now live and our cocoa prices are discounted for the presale. Please note bean (XCC) is devised for smaller players and maximum purchase is under 10 tonnes. If you wish to buy more than 10 tonnes of cocoa, please visit a commodity exchange.

Prices on 14 June 2018

1 ETH = 297,325XCC = US$522.70
1 XCC = US$0.0017580089
1 g of cocoa on commodity exchange = $0.00234090 (using ICCO daily price from 1 tonne of cocoa expressed in grammes)

25% discount on cocoa prices via bean (XCC)