EthicHub ICO Review Part 1: Friendly Interest Rates for Unbanked Farmers
EthicHub is using blockchain technology to connect lenders with unbanked yet highly reliable farming operations.
The platform empowers growers in developing countries by providing access to crowd-funded loans.
In this multi-part series, we’ll take a look at different aspects of the EthicHub project and how the team aims to create a blockchain-based credit ecosystem rewarding producers and borrowers alike.
But first, a little pest repellent for our virtual crops…
Disclaimer: This is not investment or financial advice. I’m not a financial expert by any stretch of the imagination. Most information within this article is speculative and merely my own personal opinion. Always conduct your own research before contributing to any startup projects.
Always remember that what you do with your money is your decision to make. And if that decision proves too difficult for you alone, seek guidance from a financial professional.
I plan to receive a small allocation of tokens for creating this content. That said, I will do my best to remain unbiased and fair. I try to avoid all FOMO and FUD and never wish to impart those emotions on my fellow crypto-heads.
Bridging the Gap
Developing nations are interesting places, to say the least. They tend to foster a vast divide between ordinary citizens and the government — typically leaning towards corruption, if not outright vicious.
The upper class and people in power enjoy a disproportionate amount of the country’s resources. You’re rich or poor and while there is a middle class, it’s not nearly as large as what’s found in more developed nations.
But no matter the current economic or humanitarian situation, every country on earth contains some hardworking people who, despite all the bullshit, keep plugging away.
Now, I’m lucky enough to have traveled to a few foreign locales. Surprisingly, some of the happiest people I encountered were also the poorest.
I’m talking living on a dirt floor in a ramshackle hut that leaks when it rains, but a perma-smile planted on their faces.
And you can bet your last Bitcoin these people are up early and getting things done. There are fields to tend and animals to shepherd. They have resources to accumulate or maintain.
Now, remember the middle class I eluded to earlier? Well, let’s take the segmentation a little further and say that the EthicHub project is targeting the upper lower-class population.
What does that mean? Simple. This subculture consists of profitable farmers who have ideas for expansion or new business ventures, but are hampered by a lack of traditional banking systems.
These are harvesters of income-producing crops. They’re making money yet looking to bolster their profits but their banking systems are a joke.
And if they want to get a loan within their local community, the only option is cash at 100% (!) annual interest. Rates are sometimes even higher, creeping up to 125%.
Ouch! And you thought your credit card company was unfair.
1st Stop: Mexico
Now, to be ultra-clear, this isn’t investment advice, but that green box up there looks so much better than anything central banks have on offer these days. Just sayin’.
EthicHub chose San Rafael, Mexico, as their first cooperative project alongside a group of producers. This little agricultural town is home to less than 30,000 people.
Project contributors are looking forward to what the future brings, and project producers can enjoy an elevated lifestyle.
This is a case of blockchain tech being used for social good. Lives will be changed, for the better, because of our recent inventions.
I love EthicHub’s vision because it’s another project that defines what the blockchain is all about: Improving lives all over the globe.
The EthicHub project certainly has a noble cause. They’re not giving handouts. They’re not taking more than what’s fair from producers.
And, their token holders — more on said tokens in subsequent articles — gain access to projects they otherwise couldn’t.
I’m looking forward to hearing about the outcome of the initial project in San Rafael. It’s shaping up to be a win/win.
If successful, it’ll set the tone for the EthicHub team’s ability to select partners that deliver on their promises.
And if that first partnership does well, the overall project should begin to see a snowball effect; original contributors are going to want to take another spin.
I certainly like where this project is heading. But, as always, I encourage you to do your own research.
Coincidentally, here are some places where you can do just that:
By the way…
If you like what you see here and need help getting your crypto message to the masses, I’d love to hear about your project.
Feel free to reach out to me here: blockchainauthor at Gmail
This article was created in exchange for a potential token reward through Bounty0x. *** BountyOx username = blockchainauthor ***