Blockchain, Cryptocurrencies Boost SectorFri, 03/02/2018 - 10:48
Q: How does Amar Hidroponia's model benefit from the creation of Agrocoin?
A: We started Amar Hidroponia 18 years ago, while the Agrocoin project started in August 2017. Agrocoin is an investment vehicle that we developed because many people wanted to invest in Amar Hidroponia’s franchise model but did not have the MX$3.15 million (US$160,000) needed to participate. Through this cryptocurrency model, it is possible to invest with only MX$500 (US$26), which is the price of one Agrocoin.
After thoroughly researching different types of investments, we concluded that cryptocurrencies and blockchain offered an interesting opportunity. This led us to create the first Mexican cryptocurrency and the first cryptocurrency in the world related to agribusiness. Each Agrocoin is directly related to 1m2 of hydroponic habanero pepper production, which means that the owner of one Agrocoin is the owner of the production of 1m2 of hydroponic habanero peppers.
We designed Agrocoin with a key that allows our investors to trade it after one year of investment through platforms like Bitso. Since blockchain technology allows for electronic notarized transactions with a unique code, Agrocoin allows us to attract formal investors from any part of the world. It is a way to democratize investment.
Amar Hidroponia is a Mexican agricultural company that encourages fair trade of greenhouse-grown crops. Incorporating economies of scale, the company developed a franchising model for growing and commercializing habanero peppers.