BitCow: Argentina's digital currency backed by cows
In Argentina a digital currency was developed that will allow small and medium investors to enter the livestock market. The digital currency is backed by cows.
BitCow for investors
An article written by Fernando Bertello in the newspaper La Nacion, on January 18, reported that a group of investors intending to develop an investment system in the livestock market through digital tokens. Interested investors may invest from 9,000 Argentine pesos, a minimum investment that would mean attracting interest from investors who are not from the agricultural sector.
The article specifies that: "The initiative is Openbit, a firm where investors in agribusiness, grain brokers come together and rent fields in Benito Juárez and Trenque Lauquen with 1,500 cows." Guillermo Villagra, director of the new OpenBit business unit, is also the director of the OpenAgro consultancy and seeks to develop a new way in which any small or medium-sized investor can add to livestock investments through a digital currency that will be supported by real assets: cows. The asset backed by cows is called BitCow. On their official website they specify that BitCow: "It is not a cryptocurrency. It is a digital medium with many advantages for you. With BitCow you become a livestock producer without leaving your home."
When asked about BitCow, Villagra said: "Basically BitCow is a digital token backed by real assets, that is, in cows. And it was devised as an investment alternative designed for those savers who are thinking of entering the livestock business but that they don't have the time, knowledge or financial resources to do something on their own. "