EcoChain is an unique blockchain platform designed specifically for tobacco. Tobacco is a seriously misunderstood substance that has a high potential for good use. The medical industry, cosmetology industry, etc. are fields already disrupting the market with novel tobacco products. As the market of tobacco expands, our platform would be the perfect ground to connect buyers and sellers without a middleman and allow these people to efficiently negotiate with each other. Our large network would make it more feasible to connect to people across the world and not just the people in the farmer’s region. Additionally, as transactions between sellers and middlemen are unstable, this service will allow for more trust to be developed between direct transactions of sellers and buyers. We used the solidity language to create a decentralized application(dApp) for this service. Tobacco will be priced using ETH(Ethereum – a cryptocurrency) and users will have to utilize an online wallet to store and trade ETH on the marketplace.
What inspired you (or your team)?
It is known that tobacco smoking incurs negative effects on society. This universal fact may be beneficial to consumers; however, it affects the future of millions of smallholder farmers living in low to middle-class conditions. Since most of the farmers are from the poorer developing countries, they have to rely on tobacco from their farms for revenue as the farmers don’t have an alternative source of income to support their needs.
Our team has seen this first hand in China where millions of tobacco farmers depend their lives on selling their tobacco produce to usually “corrupt” middlemen. We were inspired to take action and solve this issue in order to remove the burden for so many individuals living this way.