VKenaf Chain, which combines Kenaf and BlockChain, aims to establish a better working system in our industry by providing more transparency and security to consumers as well as producers. Richwork is trying to solve the current environmental and energy problems facing humanity through a new bio platform that combines BlockChain and Kenaf, the world's four largest textile crops.
BlockChain technology tracks all activities and determines the validity of the majority decision, so that a single institution works in a democratic way of dealing with the market. As its power is evenly distributed among all participants, they are only responsible for decision-making by majority through taking part in decision making process.
Kenaf, the basis of the VKenaf Chain, is a first-year herbaceous plant native to West Africa. It possesses various characteristics that are not found in common plants, and is evaluated as one of the world's four largest fiber crops. It is produced as about 25,000 products which are used in various fields of daily life and industries such as pellets, pulp and bio energy. Moreover, it has high productivity as it grows fast enough to be harvested three times a year, and is also eco-friendly with its ability to absorb a large amount of carbon dioxide.
Kenaf has great advantages in terms of environmental cleanup and resource development.
In environmental cleanup, there are two main characteristics.
First, Kenaf has a superior ability that is 40 times faster than the rate of photosynthesis in forests. So it can reduce carbon dioxide, which is the main culprit of global warming, and obtain a large amount of oxygen.
Second, kenaf plays a role in water quality purification due to its high absorption efficiency of nitrogen and phosphorus in the water. And it is possible to purify sewage as kenaf can be grown up to 6m by using sewage.
In terms of resource development, Kenaf is used as pulp, deodorant, soil conditioner, soundproofing agent, wallpaper, oil absorbent, food, nonwoven fabric and etc. throughout the daily life of modern people
Richwork can cultivate 25 ones per 1m² on average, producing about 25kg’s Kenaf per 1m².
We produce 250,000 kg of Kenaf per hectare, and VKenaf Chain's goal is to have at least 2,000,000 hectares of Kenaf farm.
As of 2020, Kenaf's price per ton is 150 USD, generating a profit of 37,500 USD per hectare.
When reaching our goal of cultivating 2 million hectares, $75 billion in revenue is generated and the profit can be maximized by cultivating three times per year.
VKenaf Eco Platform consists of Vkenaf BlockChain, Vkenaf Token, Dapp, Global Exchange, Wallet, Core System and etc. Therefore, VKenaf Chain is the world's first specialized Kenaf production and distribution company operated by a decentralized P2P network system. And, its 7 key convergence mechanisms drive the value of VKenaf Token to rise.
Because of these seven mechanisms, Token will have its own demand-driven economy and the value of Token will be completely independent of speculative ecosystems. As a result, the value of VKenaf Token will not be affected even if other cryptocurrency markets are completely collapsed.
VKenaf Chain has the ambition to create the new market space by leveraging the power of BlockChain. VKenaf Chain's project development starts in Southeast Asia and will expand across the whole Asia.
Currently, VKenaf Chain is expanding Kenaf cultivation farms, which provide raw materials from major regions of Vietnam and around Cambodia.