FarmCoin has been designed and funded with the support of strategic blockchain private equity investor Swarm Fund, and has been launched by Food Asset Coin Eco-System (FACES), a joint venture between Block Commodities and FinComEco (a subsidiary of GMEX G
Features
The venture’s purpose is to sponsor the development of commodity ecosystems, using tokens (from third-parties initially) as currency for transactions.
The primary focus of the token is financial inclusion and social responsibility. Providing resources to the 700 million unbanked farmers in Africa, the project will maximise production by leveraging existing infrastructure; providing security and regulation to eliminate corruption; and reducing costs so that farmers are able to increase output beyond what is needed to feed their families.