Coin Deepdive: TE-FOOD
TE-FOOD is the world’s largest farm-to-table food traceability program. It provides transparent food history to consumers, authorities and supply chain members.
According to the WHO (World Health Organization), 10% of the world population falls ill because of food born deceases, causing approximately 400.000 deaths each year. Also, food frauds around the world cause $ 40 billion dollars annually. By tracking the full supply chain — from primary producers, to food producer, wholesaler and eventually retailer — these risks can be reduced.
TE-FOOD tracks the full supply chain and connects all data sources to create a reliable ‘string of information’, or database. Blockchain technology provides credibility for the data and scalability for a global transaction ledger, and therefore increases consumer trust.
By using this string of information, authorities have a clear view on the food supply and get instant alerts in case of anomalies in the supply chain processes. The system helps them to enforce supply chains and improve food safety.
TE-FOOD registers different kinds of information by using blockchain technology. Examples are:
- Animal profiles
- Use of antibiotics
- Veterinary checks
- Slaughter data
- Transportation data
All this information is registered to make sure everything can be traced back to their origin. Retail consumers can obtain all the information by scanning the QR-code on the packaging.
TE-FOOD has over 6000+ business customers and tracks over 400.000+ transactions each day. Their project is up-and-running in numerous countries, for example Germany, Hungary, Vietnam and South Africa.
TE-FOOD has partnerships with highly regarded institutions like the UN (United Nations), FAO (Food and Agriculture Organizations), GS1, Deloitte, HalalTrail, Unisto, Nongshim Data System and QSM.
TE-FOOD’s solutions have been implemented already at large retailers, e.g. Auchan, Big C, Aeon, Lotte Mart, CO.OPmart, Vissan, Satra Food and Mega Market.
With the collaboration with Auchan, TE-FOOD will be implemented internationally, starting in Italy, Spain, Portugal and Senegal.
What to expect?
TE-FOOD started over 3 years ago, in Q2, 2015. After gradually rolling out and improving their project, TE-FOOD gained more and more traction in 2018.
In Q1, 2018 the token sale of TE-FOOD took place. After that, new countries implemented the project and in Q3, 2018 they launched their own fully operational ‘FOODCHAIN’.
In Q1, 2019 they will launch their own marketplace. The TE-FOOD Marketplace extends logistical and food safety data, with trading possibilities with conditional smart contracting possibility. Also, new countries will implement the TE-FOOD solution, which will be accelerated by the partnership with Auchan.
Circulating supply: 504.624.112
Total supply: 567.917.833
Maximum supply: 1.000.000.000
% circulating: 50,4%
Current USD price: $0,008810 USD
Current BTC price: 0,00000208 BTC
Exchanges: KuCoin / IDEX