Just recently, Reuters has brought a report to the front in regards to an exporter. The firm has reported on Thursday, November 4, 2021, that Tierra Viva is in the process of developing its own cryptocurrency. Tierra Viva is an exporter based in Tunja, prominently known for exporting long-horned beetles.
The firm has revealed that the exporter has been doing it in order to avoid the fees it incurs on international transactions. The reports reveal that the particular exporter has its concerns over the high commission costs that it currently has to afford when performing sales internationally.
For Tierra Viva, the development and launch of an exclusive cryptocurrency would be the right answer to address these concerns. The firm will be able to manage its sales internationally without having to incur any commission costs. Tierra Viva revealed that most of its exports are being carried out to Japan.
At present, the exporter exports different kinds of long-horned beetles to Tokyo, Japan. These beetles reportedly belong to the elephant, Neptunus, and Hercules species. The exporter has revealed that at present, the retail price for a pair of beetles is $300 in Tokyo.
These beetles are extremely popular among Japanese collectors and schoolchildren, who love to have them in their rooms and in their collections. Tierra Viva’s chief programmer, Carmelo Campos provided more information about the need for a cryptocurrency. He provided the reason behind the development of a cryptocurrency by the company.
Campos stated that with the help of the particular cryptocurrency, they will be able to export their beetles to Japan and other parts of the world without incurring any fees. With the help of cryptocurrencies, they will be able to avoid facing any commission charges as they process international transactions. This is when their cryptocurrency is going to come in handy as a useful payment method.
Tierra Viva will be coming up with its own cryptocurrency “Kmushicoin” (KTV). The exporting company will be launching KTV through its own blockchain network. In order to come up with a name for the coin, the company had taken the name of Kabutomushi as an inspiration. Kabutomushi is a famous rhinoceros beetle from Japan.
Tierra Viva is going to launch the token through the CREX24 exchange. The token will be exclusive to the CREX24 exchange. The exchange does not support clients or users from the United States of America. At the time of writing, the price of the particular token is $1.80 per KTV.
As of now, the particular cryptocurrency is being supported and accepted by over 200 businesses that are based in Tunja. The company has claimed that it is benefitting a lot from the token and it will be able to generate more profits through the cryptocurrency in the future.