Idea & Token
TE-FOOD is an already existing and working ecosystem that includes supply chain companies, consumers and authorities. Their goal is to create a scalable, transparent and secure solution to track food transportation, ensure the food quality, and eliminate food fraud, theft, and corruption. Here’s how they are going to achieve this.
The company will train all the participants of the food supply chain including farmers, suppliers, butchers, and transporters to use their B2B mobile app and identification tools, such as QR codes. This way they will be able to check every product and its location at any moment on every step of the chain from a producer to a consumer. The other mobile app has been developed for consumers to give them an ability to verify the journey this particular product has covered till it was received on the market, and then – in the customer hands. This will give ordinary shoppers clear and trustworthy information about the product quality.
The system also includes veterinaries and authorities. Veterinaries can check time passed from sending a product by the previous participant and block the product delivery in case its quality cannot be proved. Authority representatives have the right to check transport and identification materials.
For this moment they already have 6,000+ business customers (including Auchan, Citimart, LotteMart, and Japfa), perform 400,000 transactions a day, and served 30+ million people.
Their ERC-20 tokens called TFOOD will mostly be used as a medium of exchange between businesses, but will also be rewarded to customers that use the app to ensure a product quality. TFOOD can also be spent to purchase higher quality insight, as well as food quality analysis services. TE-FOOD will create 1 billion tokens, and 51% of them will be sold on ICO.
Top management of the company includes Dr. Trung Dao Ha, Erik Arokszallasi and Marton Ven. This is a strong combination of experience in leadership positions, marketing, sales, and software development. The team consists of 18 specialists and has 10+ years of experience in developing solutions for tracing items and 20+ years in software development. They also have three advisors and have established partnerships with such companies as GS1, Unisto, and Zalo.
TE-FOOD is an already functioning system with developed software and set up hardware, have huge and significant business customers, excellent team with solid experience in the same sphere. The transparency of the system allows small farms to compete the existing food producers on the market. One disadvantage we’d like to mention is their location in Vietnam which is also their main target market. So, scaling the project on other countries will be a kind of challenge. Anyway, we evaluate this project much higher than average and see it as preferable comparing to other tracing projects based on blockchain.
With TE-FOOD, you can go to a shop or food market and use your smartphone to scan a label on any product to see its complete history, and what is important you will trust the information because it’s protected with blockchain. We like it.
TE-FOOD ICO datesexport to calend
TE – FOOD is a successful farm – to – table livestock and fresh food traceability solution , focusing on emerging markets . Since 2016,, TE – FOOD has been implemented in Vietnam.. As a farm – to – table solution,, TE – FOOD tracks the items through the whole supply chain (ffarm,, slaughterhouse,, wholesaler,, retailer)) and provides tools to both consumers and authorities to gain food histo ry and food quality insights..
TE – FOOD has grown to over 6000++ business customers , tracking 12,000 pigs,, 200,000 chickens,, and 2.5 million eggs daily.. In 2018,, it will be extended to track cattle,, fish & seafood,, and fruits & vegetables..
Foodbor ne diseases around the world are accountable for the hospitalization of 700 million people and 400,000 deaths annually . The global food traceability solution market will reach $115.1 Billion by 2021.. Compound Annual Growth Rate is highest in Asia – Pacific ( CAGR:: 16.7%% ) vs.. rest of the world (55.5 – 8.7%%)).. Traceability effects are medical (ffewer foodborne illnesses and deaths)),, social (cconsumer demand,, need for trust)),, and economical (lless product recall costs,, supporting export,, transparency,, VAT revenue))..
TE – FOOD provides physical identification tools,, mobile apps and web based software solutions in a PPP model (llow upfront fee,, and long term contract)).. TE – FOOD charges for the identification tools,, and the transactions in the system.. Our customers are governments,, private companies,, and professional organizations .
TE – FOOD is optimized for emerging markets.. Despite it uses modern technology,, it’s the cheapest solution available,, with no need for special equipment . The business model fits emerging countries,, making it a profitable business.. Our detailed,, practical implementation guide ensures scalability in other countries..
TE – FOOD is a joint project of a 21 years old Hungarian and a 2 years old Vietnamese compan y,, currently employing 30 people.. For international expansion,, all rights and activities will be incorporated into a new single company:: TE – FOOD International Ltd . Leaders of the new company have over 20 years of business and IT experience .
To pre – sell tokens which can be exchanged for services within the system . Our main plan for 2018 is international market expansion . We have detailed roadmap to launch TE – FOOD in 17 countries within 5 years . Blockchain provides transparent trust based solu tion for international operation.. Tokenization with smart contracts eliminates volatility as a unified financial transaction ledger solution..