Digital Currency Gets Fiery with Habanero-backed Token

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Crypto gets Spicy with endorsed Token

Agrocoin is aiming to gain on the developing cryptocurrency market by allowing individuals a chance to invest in its native token, which is upheld by habanero peppers.

Fiery habanero peppers might be well known for being used in salsas, hot sauce, and chilli, however, its adaptability has changed it from a recipe ingredient into a digital currency investment.

Habaneros Open the Door to More Investors

As indicated in a report, Amar Hidroponia, an agriculture organization that grows these peppers in the fertile lands of Quintana Roo in Mexico, plans to make their business model more comprehensive for small investors.

Rodrigo Domenzain, who is the organization’s president, said:

“We had a lot of people who wanted to invest, but with less money.”

By consolidating blockchain technology with the popularity of these peppers, the organization made Agrocoin digital tokens in September a year ago. Each coin, which $27, is upheld by a square meter of production land in Quintana Roo.

As per Domenzain:

“Agrocoin allows us to have a new investment product backed by agricultural goods.”

More Stability in the Crypto Market

These tokens can be bought on Agrocoin’s website. The platform intends to issue one million tokens, of which 50,000 have already been sold. They will be able to be traded on an exchange one year after purchase. Investors are expected to get a yearly dividend of roughly 30% of the cost, depending on the demand and the production output.

Pablo Arteaga Vega, CEO of the platform, said:

“We saw the opportunity of using the cryptocurrency-backing technology, blockchain, to share the profits [of their production].”

As we know, the universe of cryptocurrency is an unpredictable one, filled with price highs and lows. Vega trust that the Agrocoin offers a measure of stability because it is back by-product that has an actual demand, and is not subject to drastic and unpredictable price swings.

Due to this, Vega has stated that Agrocoin is geared more towards investment than speculation.

Blockchain Harvested in Other Industries

Despite the fact that this might be Mexico’s first vegetable-blockchain association, it appears to be a growing trend. Blockchain-based Ripe aims to provide clarity in the journey of food production from farm to table.

January this year, agricultural product trader, Louis Dreyfus Co (LDC), brokered a blockchain-based deal with Chinese-based Shandong Bohi Industry for the sale of 60,000 tons of soybeans from the US to China.

Habaneros aren’t the only consumable getting the crypto treatment. CaskCoin, a newly launched digital token, is upheld by barrels and barrels of the most beautiful Scottish whiskey. If you own one CaskCoin, you will also legitimately own a cask of whiskey.

Blockchain might have made big headlines in 2017. However, it indeed appears to have taken off this year as it is integrated into more and more industries other than crypto.



Disclaimer :The opinions communicated in this article do not represent the views of Coindelite or any of its team members. Coindelite is not responsible for the reliability of any of the data provided in Sponsored Stories/Press Releases, for example, this onex

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