About BioCoin
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FAQ
BioCoin (BIO) is a blockchain-based platform that supports organic farming and family farms. The platform understands the condition of the environment and contributes to the planet's environmental, economic and social development. Therefore, BioCoin acts as an aid to the farmers for simplifying their financial complexities and credit system. Farmers receive BIO tokens and use them to purchase machinery, feed, fertilizers, and plant protection products. The platform also acts as a social tool where users can use BioCoin to make payments in shops, farmer's markets, cafes and pay for food, clothes, furniture, etc. The platform aims to connect businesses that support organic farming, develop local communities, and contribute to the green economy.
The BioCoin platform runs a loyalty program that rewards the users for every transaction. The users automatically receive an average of 10 percent of the transaction amount in the crypto wallet. The reward amount depends on the token exchange rate at the transaction time. The users can also make payments with the accumulated points turned into tokens in their wallets. Further, businesses that have joined the platform can accept payments in cryptocurrency and real-world currency. Businesses can also receive an average reward of 10 percent of the amount transferred in their wallets when they accept payments in cryptocurrencies.
BIO is the token of the BioCoin platform based on Peercoin's proof-of-stake (PoS) consensus mechanism. Peercoin is an alternative cryptocurrency derived from the fork of Bitcoin. The PoS mechanism ensures minimal energy consumption. The users can utilize BIO tokens to make payments within the platform.
LavkaLavka farmer cooperative, founded in 2009, created the BioCoin platform in 2017. Boris Akimov is one of the founders of the LavkaLavka cooperative. He is a farmer, entrepreneur, philosopher, and author of many lectures and articles on organic agriculture, responsible consumption, and sustainable development.
The platform's initial coin offering (ICO) started on October 2, 2017, along with discount programs. The total supply of BioCoin is one billion tokens.
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