One month passed since our last progress report, and many things we are working on start to crystallize. Some of them still not ready to announce, but we see how they will materialize, and how they will fit into our plans.
Representation in Italy
TE-FOOD partnered with BIG GROUP to provide sales and implementation representation in Italy. The food industry in the mediterranean country is one of the most important industrial sectors, which counts about 56 000 companies employing around 343 000 people, and generating 134 billion EUR revenue.
Representation in South Korea
TE-FOOD partnered with Nongshim Data System, the technology arm of food industry giant Nongshim, to provide TE-FOOD’s fresh food traceability solution to Korean companies.
Partnership and pilots in the UK with HALAL TRAIL
TE-FOOD provides the underlying technology for HALAL TRAIL, a company focusing on providing farm-to-table food traceability and verification services for halal food companies on blockchain.
According to industry estimations, the global halal food market will reach USD 2.55 trillion by 2024, but the industry lacks trusted IT solutions to verify the origin of the halal food products.
Two pilots will start for chicken and lamb in Lancaster, Tunbridge Wells & Manchester, U.K. as a reference to be implemented globally.
New product extension — Deep data analysis for farms
After seven months of work by our food experts and developers, TE-FOOD announced a revolutionary tool for farmers to drastically improve productivity and efficiency by deep data analysis based automatic instructions.
The extension targets small and medium size farms, and instead of complex diagrams or tables, it provides written instructions on used elements to increase or decrease to reduce costs and improve farm productivity.
Token economy
We are closer and closer to clarify how the two-token economy will work. In the shadow of the growing number of regulatory investigations on tokens and securities, we concentrated a lot on compliance, not to offer anything which could be deemed passive income.
A lot of people ask how other projects can provide passive income, and yet, not being a security. We believe, in reality there is no such structure. If a project promises income just for holding tokens, they offer securities, which sooner or later will be deemed illegal.
We still need some calculations, but we will publish the complete token economics before the end of June.
Corporate IT security expert Sandor Miskey joins as CTO of TE-FOOD
After more than a decade at Novell Professional Services Hungary as senior consultant, then as head of NetIQ branch, Sandor joins TE-FOOD as CTO.
He can handle large workload, manage several projects with tight deadlines, and plan complex system architectures.
He brings 25 years of technology experience, with an emphasis on security solutions.
Summary infographics
We created an infographics to introduce TE-FOOD with some quick facts. Please feel free to share it with the people you know to spread awareness.
Exhibitions, conferences
TE-FOOD Exhibited on the Seeds & Chips Global Food innovation Summit in Milan, Italy.
Accompanied by Stefano Sermenghi, the head of our Italian partner BIG GROUP, we had a lot of meetings with food companies and research institutes.
Gergely Koves from TE-FOOD held a speech about farm-to-table food traceability on the FMCG top 2018 conference in Hungary, alongside local leaders of SPAR, GS1 and Coca-Cola.
Istvan Bessenyei, leader of Laurel talked about TE-FOOD’s role in the food supply chain on the 7th Laurel Retail Conference in Budapest in front of an audience of governmental representatives and retail companies.
Gergely Koves from TE-FOOD presented blockchain based food traceability on the FM-GS1 Roadshow, sharing the stage with GS1, Bizerba, FM (Ministry of Agriculture in Hungary).
Progress in Vietnam
Despite sometimes it‘s not as spectacular as the partnerships or conferences, the biggest advancements in TE-FOOD’s life still happen in Vietnam. Trung and the growing Vietnamese team are continuously work on roll outs, and planning the processes for the new food types.
Currently, the major focus is on processes for fruits and vegetables, which is a lot more difficult than chicken or egg.
Together with Katalin Vereczkey, food industry expert of TE-FOOD, they were traveling to many provinces to analyse the processes for different fruits and vegetables.
TE-FOOD is the world’s largest publicly accessible, farm-to-table fresh food traceability solution. Started in 2016, it serves 6000+ business customers, and handles 400,000 business transactions each day.
Website: www.te-food.com
Telegram group: https://t.me/tefood
Twitter: https://twitter.com/TE_FOOD
Reddit: https://www.reddit.com/r/TE_FOOD/
