...
What is KisanCoin?
A reward mechanism for farmers to monetise their data
KC gives me a right to sell data on the network
KC also indicates the stake I have in the network
Value of KC is market driven
KC is not a currency which can be used to buy stuff outside network
KC help activate features in data collective and get dividend
KC is “transferrable”
KC has payload associated with it (data entered about the farm and farming by the farmer)
Who can get KisanCoin?
Farmers
Curators
when they
Earn rating and positive reviews from Ag companies
Some percentage is deposited back when their data is accessed
Curators (within farming or rural community at large)
Enter data on other farmer’s behalf
Verify/ validate data
Earn rating and positive reviews from farmers and/or data consumers
How will farmers earn KisanCoin?
The coins are earned for each piece of information entered
There are two categories of information: static/ slow changing and seasonal
Farmers get fixed amount called as base KC (b amount of KC) for each set of information, for example, contact details have name, phone, village, block, district - if all the entries are made the farmer gets b and then there are land details for the farm(s) he/she owns (farm boundary, etc) will give another b coins
Farmers can get at most X coins for every season if they enter all information which can again be categorised like seed details, chemical details, land preparation details and so on
The previous season’s KC will be halved (if not used) creating more rewards for more recent information but not losing the rewards that were entered earlier, for example: if a farmer enters for last four seasons the complete farming activity information the total tokens would be X(1+0.5+0.25+0.125) = 1.75X
The coins are doubled (minus some percentage) for each verification, example, a farmer has X coins and gets it verified by paying verification charges (V)
The total number of coins that a farmer can have from his/her farm(s) will be n*b + 2X - V, assuming n sets of information that make up complete static information (for further analysis let’s say B = n*b)
A farmer can earn coins by verifying other farmer’s information (V)
A farmer gets some reward coins for contributing to the data pool (R)
A positive rating and feedback can earn (F)
How will curators earn KisanCoin?
A curator helps farmer enter details and get C coins
A curator can also verify farmer data and get V coins
Transactions of KC:
Burn KC to get FIAT money
Transfer data for some payment in fiat currency where some percentage which is a function of the KC associated with data will be burnt
Every subscription for Aggregate data will burn some percentage which is a function of the KC associated with the member will be burnt
Transfer KC
Can A farmer buy KC from another farmer there? - to be answered
This is to provide a way for the farmers in a geography or crop where there are not many institutional buyers to sell their KC to other farmers who might be interested
To answer - once the KC is transferred, what happens with the data and should the KCs earned by entering static data should not be transferable?
...