15 Apr 2019 #Ethereum
It is commonly known that coffee is the second most consumed drink in the world behind tea. Apart from being a popular stimulant, coffee also represents one of the biggest industries in the world with Brazil being the major supplier of the beverage with the overall global production reaching almost 170 million 60kg bags of coffee in the last year alone.
Obviously, such an enormous market should have met, sooner or later, with blockchain and cryptocurrencies. Although buying a cup of coffee with BTC has turned into a traditional publicity stunt for many crypto startups, it has nothing to do with the real adoption of blockchain and digital tokens in the processes of coffee production or distribution.
Nevertheless, the blockchain projects like LOVE Air Coffee (LAC) can demonstrate that this technology may help remedy the problems that exist within the contemporary coffee business.
Before getting down to describing the blockchain ecosystem devised by the LOVE Air Coffee team, it is necessary to make a special mention of the unique coffee roaster, the essence of work of which is based on the air-driven roasting of green coffee beans hence the name ‘Air Coffee’.
This roasting unit, designed and constructed exclusively by LAC, is capable of bringing up to 12 kg of raw beans to the necessary condition in 10 to 20 minutes, which is much more efficient in comparison to the usual drum roasters. It is a centerpiece of the entire production line, which also includes the distribution, cooling & cleaning, and packaging units.
The use of this roaster helps to bring possible defects in beans to a minimum, enhance the coffee’s aroma and taste, and reduce the overall duration of the roasting procedure.
The main distinguishing feature of Love Air Coffee resides in the fact that the members of this startup endeavored to create a separate blockchain, which they have named the Blockchain EVOL. It operates on the combination of POS and POWS algorithms that allow users to mine the native tokens.
The miners’ primary task is to confirm the transaction, which takes place on the blockchain, without actually writing them into the block - this particular task is carried out by the server. In order to become the miner, the user is ought to have an active EVOL wallet and a definite amount of tokens on the account.
The Blockchain EVOL provides for the creation of master contracts which run the chain of operations in the network, which includes the roasting control, processing of orders and payments, coordination and approval of delivery of roasted coffee, creation of delivery routes, generation of confirmational bar codes, interaction with customers, and resolution of possible issues.
The ecosystem also includes the internal digital exchange which automatically converts all acquired currencies to the ERC-20 compliant LAC utility tokens at 0.1% interest.
LOVE Air Coffee also developed the LOVE dApp which serves as the mode of communication between master contracts and customers and also has the functions of a digital wallet, a social media outlet, and a marketplace. Through the app, users will also acquire access to the regular and comprehensive analysis of the coffee market.
The total emission of LAC is established at 1 billion tokens with 68% of that amount being allocated for sale. Love Air Coffee is currently preparing for the ICO which is due to begin on August 1 and last for a month. The price of one LAC token is established at 0.025 EUR. In order to participate in the token sale, the potential investors should get whitelisted first. Citizens of the U.S. and China are prohibited from participating in the coin offering.
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