TE-FOOD: Changing food with blockchain – DKing – Medium
*Disclaimer: This is not financial advice, this is solely my opinion and perspective on the viability of this coin. As always, DYOR before investing.Overview
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 TE-FOOD solution, TE-FOOD tracks the items through the whole supply chain (farm, slaughterhouse, wholesaler, retailer) and provides tools to consumers, supply chain companies, and authorities to gain food history and food quality insights.Specifications
Market cap: $8.5 mill (at time of writing)
Circulating supply: 402 mill
Presale/crowdsale details: 30% bonus, $19 million raised
ICO price: $0.039/0.00005 ETH
Price: $0.02/0.00004 ETH (at time of writing)
HODL timeframe: mid-long
Website: https://ico.tefoodint.com/Goals Traceability in food supply chain: TE-FOOD has been around since 2015, now shifting towards a decentralized method. Their focus is on food supply chain and tracing from farm-to-table. Fraudulent food, food safety, overuse of antibiotics are global issues in the food industry. VeChain and WTC have both set precedents in the supply chain industry, and while VEN/VET is focusing on many aspects, it’s good to look into companies with working products that have a narrower focus. TE-FOOD is penetrating a $12 billion food traceability industry. Working product: TE-FOOD is not a “concept” that developed with its ICO, they’ve had a working product since 2015, mainly focused in Vietnam. With more than 6,000 business customers, their tracing volume includes 12,000 pigs/day, 200,000 chickens/day, and 2.5 million eggs/day. They serve more than 30 million people with fresh food traceability information. TE-FOOD also uses an app that scans the RFID tags of products. TE-FOOD’s product is used through every step of the process, literally from the farm to the distributors to the consumers. But, why blockchain?: if TE-FOOD has already proven success with their product, why move into blockchain? Blockchain offers the ability to link unmodifiable data to livestock. The issue they’re solving is distrust between suppliers, consumers, and authorities. The data is also common property of all participants and must be stored in a shared ledger to provide transparency. This also allows public access to all data. Utility token: the TFD token will be used to pay for transactions on the blockchain ledger. You can use the tokens to buy data on livestock/products. On a consumer’s end, consumers are rewarded by using the mobile app and tracking products they buy — essentially incentivizing conscious behavior (we should all know where our food comes from). Consumers can also use the tokens to order food analyses. Token holders also have the ability to “rate” supply chain companies, providing something similar to a health score. Token distribution: total 1 billion tokens issued, 51% available in token sale. $19 million hard cap. The goal of the token sale is to raise funds to finance the international expansion.
Expansion is their number one priority. Their focus is primarily on emerging markets as most of the food supply chain issues occur in emerging countries. These countries also lack the technology for traceability systems. Cattle, fruits, and vegetables tracking will be implemented in Q2. They’re looking to target 2 more countries as well in Q2. Q3 will include full implementation of blockchain and fish/seafood tracking. They have a pretty aggressive roadmap leading into 2019.
Dr. Trung Dao Ha is president of the High Tech Association of the HCMC with 20 years of strategic leadership experience in Asia and Europe. Erik Arokszallasi is the co-founder and leader of two successful IT development companies in Hungary — Erba 96 Ltd. and Flexsys, Ltd. The blockchain implementation team is being provided by Rhyno Technologies.
TE-FOOD already works with the largest supermarkets in Vietnam, such as VinMart, LotteMart, and Auchan. Over 6000 business customers, over 3000 farms and over 3000 livestock agents already use TE-FOOD.
TL;DR and my thoughts:
I’m pretty bullish on TFD. The first competitor I think of is WABI, but WABI’s main focus is on pharmaceuticals. If TE-FOOD was a concept that developed while the ICO was in the works, I would not invest. However, TE-FOOD has proven success with a working product widely used in Vietnam. I think blockchain companies focused on the supply chain industry will do extremely well because they have real use cases and global problem solving products.
How to add TFD tokens to MEW Token Contract Address — 0xE5F166c0D8872B68790061317BB6CcA04582C912 Token Symbol — TFD Decimals — 18