Have you known a system that can trace your food from the starting to end? This is about it. Te-Food is a Hong-Vietnamese company that is in the traceability segment of ‘fresh’ food in emerging countries, from farm to consumer. They currently operate in Vietnam, with a solution to trace pigs, chickens and eggs throughout the chain. They have 400,000 transactions per day, 6,000 corporate customers, and 30 million end-users.
How Do They Do This?
It’s a company that already has a business that works : a traceable supply chain in Vietnam. The team has about twenty years of experience in the supply chain and they have a very well worked plan. The demand is enormous. In emerging countries, there is little transparency in the supply chain, a strong presence of corruption, and low food quality. Diseases are common. This ICO will allow them to move their supply chain system towards a blockchain that will offer more transparency, through a simplified and unworkable traceability. The cost of implementation is very low, with little equipment and few training. They also want to scale up by opening up to other markets (beef, fish, fruits and vegetables) in 17 new countries in the next 5 years (including Africa).
Tokens (TFOOD) are utility type ERC20, used as fuel for transactions. It can also be used to buy services (know the treatments applied to a fruit, the type or amount of antibiotics used on the animal). Consumers will be able to earn tokens by learning about the products (by scanning a QRcode via an app) and will be able to purchase additional scans.There are 1 billion tokens generated, of which only 400 million will be sold. The other half will serve as a reserve for running the system and the rest for marketing, etc. Of the 400M of tokens on sale, 300 were sold during the pre-sale (16 900 ETH raised, or about 14MUSD) and only 100M of tokens remain for the final sale. It will go very quickly:
The Token Buying Process
To buy a TFOOD during this ICO, you must first register and verify its identity by a rather laborious procedure on their site (KYC). Then, from 22/02/2018 (10h GMT), we can buy a maximum of 1 ETH tokens at $ 0.05 each, with a bonus of 15%.
The tokens will be transferred and usable immediately at the end of the ICO.
Usefulness of the token
It is a project that is both useful and social , affecting food security, health, anti-corruption, anti-fraud, and sustainable development. And just for that, he deserves to succeed. The company is mature, and the roadmap seems at once aggressive but achievable. The market is huge, and the whole chain would benefit from this service. The biggest challenge will be logistics: partnering with farms in new countries. But they seem prepared to take up the challenge. Finally, the market is vast, and others, like Ambrosus , will share it. But Te-Food is the project that for me is most likely to perform. The core premise behind TE-FOOD is food quality traceability to ensure food safety and accountability to the end consumer. In short, TE-FOOD is a farm-to-table food traceability solution. The project utilizes blockchain technology to integrate supply chain companies, consumers, and governments/authorities in an effort to improve food safety, eliminate food fraud, and decrease costs of the supply chain companies.
What Do We Like About TE-FOOD?
TE-FOOD (TFOOD) is already an established company with a working product generating revenue. That is almost unheard of in cryptocurrency. Several other well-known crypto supply chain logistic projects which carry $100M+ market caps are still in the development phase. TE-FOOD has already established working business relationships and customers in Vietnam (larger market than people assume). Additionally, they’re actively developing relationships with bordering countries to expand operations. The token metrics check all the boxes for an ICO investment. The hard cap is reasonable for a supply chain solution in this market. Real world application projects always do well post-ico. With a hardcap at $19M, it’s reasonable to expect TE-FOOD to share a similar $100M+ market cap soon after release and also could be a nice long-term play as awareness grows.It’s rare to find a project release five-year financial projections in the whitepaper. Having a startup background myself, I appreciate the transparency of the team to provide such information in their whitepaper when there is no obligation to be that open. The team also identifies their weaknesses in their whitepaper, but also how they plan to overcome them. Unofficially, the team has hinted they have major announcements upon listing. Whether this is a huge corporate or government partner is unknown. However, crypto is very speculative, so the official announcement will be received quite well during the buildup.
What We Don’t Like About TE-FOOD?
The project still needs to implement the blockchain technology into their product. This is a hurdle the team will have to overcome, but this really is no different from most projects which are in the development phase. Once the technology is built, you still need to market your product and develop relationships. TE-FOOD is already active in this business segment. With the ICO funding, a few key blockchain hires should expedite the implementation and address this concern. Blockchain supply chain logistics is becoming more and more competitive, and beginning to feel saturated. To differentiate the project against other well-known projects in this space, the team will have to leverage relationships in the crypto community and be more aggressive towards marketing. This in turn should help build their community support and token adoption. Overall, each of these projects are applying blockchain technology to enhance the quality control and traceability of their target products. However, we don’t feel this is a winner take all market. Rather, each project provides something unique with the technology their introducing to the space. Additionally, each project is targeting specific jurisdictions and product sectors which may not overlap. However, with a working product already generating revenue as well as a favorable expected market cap, TE-FOOD grades favorably in terms of the comparable projects as well as in terms of ICO investments.
Our portfolio consists of several supply chain logistic projects with real-world application use cases. TE-FOOD fits that profile. Typically, if ICO metrics are fair, real-world application solutions will have a positive post-ICO breakout. In this case for TE-FOOD, the token metrics are favorable and the hard cap is below what most ICOs are raising lately. Combined with the rising hype of the project and working product, TE-FOOD is poised to be a positive ICO investment.
TE-FOOD (TFOOD) is already an established company with a working product generating revenue. That is almost unheard of in cryptocurrency. The token metrics are favorable and the hard cap is below what most ICOs are raising lately. Combined with the rising hype of the project and working product, TE-FOOD is poised to be a positive ICO investment.
Links for More Details Official Web : https://ico.tefoodint.com/ Whitepaper : https://ico.tefoodint.com/te-food-white-paper.pdf Telegram : https://t.me/tefood My bitcointalk profile details,
Name : kalindu Bitcotalk link : https://bitcointalk.org/index.php?action=profile;u=1503142