After several months of work, we are at the finish of the development phase of our new, blockchain based system. We always told that migrating our existing business to blockchain will be the largest step of our 3 years history, and it is. Now we lay the base infrastructure for it, and move forward according to the launch roadmap.
Today we launch the FoodChain testnet, a HyperLedger based blockchain ledger for food traceability, which — after the launch of the operational version — will store transactions by several thousands business customers of TE-FOOD.
It’s not just the blockchain ledger what we developed, it’s the whole new structure of TE-FOOD. The key characteristics are:
- It can receive traceability data from various sources (mobile apps, web apps, IoT), and store them on the FoodChain, or in a third-party blockchain like IBM Food Trust, Vechain, Waltonchain, etc.
- The new Process Framework provides quick process design possibilities. It enables us, and our implementation partners to re-use existing process templates, or design new ones. This tool will be crucial to implement the processes and data sets of new food categories.
- A blockchain structure which will enable us to work with large number of transactions each day.
What do we release today?
- The HyperLedger based FoodChain to store traceability data, and clearing transaction data of the Calories ecosystem. It’s a permissioned blockchain with voting based consensus protocol. As of now, masternodes will be tested internally by our development team.
- The blockchain explorer of the FoodChain testnet
As the native token of the FoodChain, Calories (CAL)will be used only within our blockchain, we don’t release a traditional wallet. For the first phase, CAL will be used for masternode clearing and settlement, which will be done on the Masternode Management Portal, which will be released during the coming weeks.
TFD will remain an ERC20 token on Ethereum, as the use case of being a token for software licencing can be performed in this structure, and for the token holders it’s more convenient to use.
What’s next?
According to the Blockchain Launch Roadmap, the technical part goes on with several test transactions on the testnet, followed by the release of the operational version by the end of October.
The release of the Masternode Management portal, masternode selection and start of the legal onboarding (KYC, contracting) will start within the next 10 days, hopefully still next week until the 19th of October.
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/
