What You Need To Know About The Foodcode Token

Foodcode
Foodcode
Nov 2 · 3 min read

Foodcode is a platform that has been created to disrupt the supply chain market. However, the platform makes use of its very own token, which is known as FCDT.

If you ever want to perform any transactions on the Foodcode system, you will need the token as it is a requirement before any transaction can be carried out.

Note that tokens can also exchange on the cryptocurrency exchanges that are listed. Also, token holders are entitled to gain reward tokens.

The Utility Token Model

Like we mentioned already, this FCDT utility token is needed to execute transactions on the Foodcode platform.

Also, the token can bought on Cryptocurrency exchanges that are subject to Fiat to Cryptocurrency KYC/AML demands through virtual currency exchanges.

Note that, the investment tokens that you will come across are exchangeable with the board rate that has been fixed by Foodcode’s in-house treasury. Furthermore, based on the average performance of the market price on the virtual exchange.

Moreover, there are reserve tokens which are utilized for:

  • Incentives
  • Rewards
  • Airdrop, etc.

Also, some are sold to the market for balance purposes. If you never knew, well, the revenue streams are produced through services that are provided by the Bio Nutricia ecosystem.

These revenue streams from:

  • Access to warehouse preferred pricing, consignment, etc.
  • R and D order request, certification and analyst
  • Freemium offering
  • Cross border transaction fees, etc.

Nonetheless, the manufacturing sector is the dominant player responsible for making the whole dynamic and enhancing the economy. However, manufacturing entrepreneurs seem to be going through serious challenges which goes thus:

In China currently, the country has remained a source for comprehensive competition because they can generate products for just a fraction of its original price in a bid to make the same products stateside.

The reason for this is because labour cost in a region like China is about ten per cent higher as it was in the US as at the year 2011

Another issue is that the change of government regulations usually affects the manufacturers for them to remain in intense competition.

In the United States, the government is always adding new regulations and compliance demands that cause manufacturers to spend highly

How The Token Works

Like we have mentioned earlier, the FCDT used in performing transactions in the Foodcode network. There is a digital wallet for every user that is created and subject to the approval of KYC/AML.

Plus, each of the token holders will be capable of withdrawing tokens in exchange for other services. Note that subscriptions or license fees can be removed from your account also.

Whenever a transaction is carried out, the costs that will take place are administration fees and the mining fees. If a user is taking part in a bonus or reward program, all transactions will be documented, deposited and even deducted from their account

To Wrap It Up

It is vital to note that the Foodcode blockchain operates with the major actors as it builds a business community that has a vast supply chain.

Also, its interconnections will be able to build a good influence on the market that will compete with the abundant food market players.

Foodcode

Universal Decentralised Supply Chain Platform for SMEs

Foodcode

Written by

Foodcode

Universal Decentralised Supply Chain Platform for SMEs

Foodcode

Foodcode

Universal Decentralised Supply Chain Platform for SMEs

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