It's being grown to make high quality paper and linen.
Bamboo fiber has been used to make paper in China since early times.
Today the wood can be used as pulp for making paper.
Grasses have also been used to make paper for more than 4000 years.
We use cellulose to make paper and perhaps other things as well.
But this thing can't be intending to make paper, so it makes no sense.
The next step will be to bring the process for making paper up to commercial scale.
Surely there was someone among his lot of individuals who knew how to make decent paper!
Its wood is good for making paper, furniture and tools.
Using wood to make paper is a fairly recent innovation.