The below summary is created by a TE-FOOD community member.
https://www.reddit.com/r/TE_FOOD/comments/81yd92/summary_tefood/Te-Food Summary
Te-Food *
https://www.te-food.com *
https://ico.tefoodint.com/index.htmlTE-FOOD (TFOOD) is introducing blockchain technology to the fresh food ecosystem in Vietnam. 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, eliminates food fraud, and decreases costs of the supply chain companies.
Introduction video
https://www.youtube.com/watch?v=qot-VCUgpngTe-food is already a company with a working product and a real revenue. In the crypto-scene, this is a great advantage because it’s very unusual. Since 2016, TE-FOOD is implemented in Vietnam (Ho Chi Minh City region) for tracing pigs, pork, poultry and eggs through the whole supply chain from farm to retail. The system tracks 18.000 pigs, 200,000 chickens and 2.5 million eggs each day, serving 30 million people. They already got coverage on the television. Market expansion is the main reason why they launched a fund raising.
http://vnews.gov.vn/tp-ho-chi-minh-trien-khai-truy-xuat-nguon-goc-thit-trung-gia-cam https://www.youtube.com/watch?v=2Y3n1LHHg6MWhitepaper
https://ico.tefoodint.com/te-food-white-paper.pdf 13000+ members
https://web.telegram.org/#/im?p=@tefoodCompany hierarchy
https://medium.com/te-food/company-hieararchy-of-te-food-due-diligence-series-b5211f902738ICO statistics
22/02/2018 Total token supply : 1,000,000,000 Tokens available in sale : 512,000,000 Total hardcap : $ 19,000,000 Hardcap public sale : 4128 eth
Overall the team did a very good job, this in contrary to alot of other ico’s. The telegram group was muted upfront to encounter scammers. The last digits of the ethereum adress was also given out upfront to ensure people wouldn’t send to the wrong adress. The gwei usage and gas limit settings where capped at 50 gwei + 200K gas to avoid a typical gaswar. To participate, KYC and whitelisting was needed. This was stopped at 14/02, to protect the investment of early followers. Max cap at ico was set at 1eth/contributor to give alot of people the possibility to be part of this happening. After 14minutes, the 4128eth were reached, a great succes. The tokens are released and locked for 14days. Many people are always afraid of high pre-sale bonusses. In this case, these discounts were offset by the volatile ethereum market during the presale until the public sale. The difference is only 10% which should give alot of people confidence. 20.000 ether was rejected during the presale, which is as big as the total hardcap. As mentioned earlier, this fund raising went very smooth and was done profesionally. I sincerely hope that this will become the standard for other ico’s.
Mission
Improving food safety around the world and change the way we approach food. Fighting off the massive corruption in the food industry, diminish the effects of frauds and make food supply transparent. That’s also the reason why we will use blockhain, since we believe that big industry players can corrupt data on centralized systems. We want to provide legitimacy by using the blockchain. Using a general food safety ledger, improves supply chain efficiency. This trough the mitigation of redundant identifications and activities. For example double vaccination or use of antibiotics. This can lead to decreasing costs.
Team The 21-year-old IT company, Erba Ltd. has 30 developers, from which 12 work on TE-FOOD. They have every type of developers ready to assist them in their tasks: front end, back end, blockchain, AI, hardware, system administration. For the blockchain part, Abraham Endre (Silur), former member of zCash team, member of Monero team, and member of Ethereum Foundation’s research team is the most well known.
https://icobench.com/ico/te-food/teamTarget markets The main focus is primarily on emerging countries where Te-Food can show the advantages of the product the best. Recently, a representation office was opened in South Africa and negaotiations are running in Laos,Malaysia & Cambodia. Last countries are situated in the ASEAN region which means they are willing to export to China. China however is requiring traceability data to import, where Te-Food comes in handy. But also other negotiations are running in West-African countries for the implemention of Te-Food. As mentioned earlier, these countries are recieving our main focus. Nonetheless, as food trade is global, establishing partnerships in developed countries makes sense as well. A solution like Te-Food is also not available there yet. According to statistics, the size of the food traceability market will increase to $15B in the coming years.
https://medium.com/te-food/why-does-te-food-focuses-on-emerging-countries-aa9e3450c8fbGovernemental support Getting backed from governments is important, since they have the power to regulate and enfore a market. Also sanctions can be giving for those who don’t follow the rules. The problem in most cases, is that they don’t know how to implement traceability on a big scale. But this is where our team try to consult them.
Why should organisations in the supply chain adopt Te-Food Mostly, the traceability costs are paid by the participants at the beginning of the supply chain (farms) . In reality, companies at the end of the chain (retails), are having the most benefit from the transparant data. Te-Food gives the supply chain companies an option to buy/sell value added information to each other. The farms can get an extra income for cooperation with the tracking of the data. That’s the model to encourage them for working with the system. These direct transactions can also be made by using Te-Food tokens. In summary the tokens will be used for paying transactions and paying for value added information. But also for rewarding conscious consumer behavior by using the consumer mobile app.
https://medium.com/@wolfcrypto/te-food-ama-with-wolf-crypto-351fadc38475Real partnerships
Auchan: French retail group with 338,000 employees in 15 countries
https://twitter.com/TE_FOOD/status/957898375067787264Japfa: Listed dairy farming company in Singapore
CJ Group: Listed South-Korean conglomerate (one of the largest chaebols — no need for introduction)
Big C: Thailand’s second-largest hypermarket operator
https://twitter.com/TE_FOOD/status/955745031704535040AEON: Listed Japanese retail chain with 500,000 employees, operates across South-east Asia
https://twitter.com/TE_FOOD/status/961187412079792128CP Group: Thailand’s largest conglomerate (revenue of US$45 billion)
https://twitter.com/twitter/statuses/953560938359160832Lotte Mart: Hypermarket chain in Korea (of the vast Lotte Group)
https://twitter.com/TE_FOOD/status/964403001409470464They appear to have cornered the market in Vietnam with partnerships with major distribution points like Vissan, Satra Foods, Mega Market, VinMart etc.
https://zintech.vn/cong-nghe-phat-hien-nguon-goc-nhung-mieng-thit-heo/(Picture is showing a marketing board in Lotte mart to encourage users, real partnerships..)
Twitter coverage
Leaders of TE-FOOD South Africa are attending to the III Private Investment Forum Worldwide conference in Dubai, to present TE-FOOD.
https://twitter.com/TE_FOOD/status/968801197367939073Foothold in Sout-Africa, established under a franchise licence agreement with Laurel Africa.
https://medium.com/te-food/te-food-gets-a-foothold-in-africa-780e65c10ffeTE-FOOD signs partnership with Telenorma AG ( distribution & implementation partner Germany)
https://medium.com/te-food/te-food-signs-partnership-with-telenorma-ag-43efdbd5088 TE-FOOD is presented at PREGA 2018 #conference on Precision Agriculture & Agro-Informatics to several #Food industry decision makers and governmental representatives.
https://twitter.com/TE_FOOD/status/968137009767251969TE-FOOD presented on #GS1 Global Forum 2018 in Brussels
https://twitter.com/TE_FOOD/status/968415972586598400Meeting with the government representatives of Dong Nai province in Vietnam. Establishing an Epidemic Free Zone with the help of TE-FOOD.
https://twitter.com/TE_FOOD/status/960066884505874432Erik Arokszallasi and Dr. Gabor Pajor present TE-FOOD in Brussels to Albert Dess from the Committee on Agriculture and Rural Development of the European Parliament.
https://twitter.com/TE_FOOD/status/958696236596547585 GS1 and Gergely Koves from TE-FOOD presented at the National Food Traceability Platform conference in Budapest, Hungary, organised by the Ministry of Agriculture.
https://twitter.com/TE_FOOD/status/956842973274177536Te-Food identification materials
https://medium.com/te-food/new-te-food-identification-materials-339d2961ff96So how does TE-FOOD differ from other supply chain ICOs?
WABI
https://medium.com/te-food/te-food-and-wabi-comparison-84377a67d0e8 WALTONCHAIN
https://medium.com/te-food/te-food-waltonchain-comparison-f00696975309 AMBROSUS
https://medium.com/te-food/te-food-and-ambrosus-comparison-edf1fc5d95ff MODUM
https://medium.com/te-food/te-food-modum-comparison-3a98c1745718Read more here:
https://www.reddit.com/r/wolfcrypto/comments/7w4xi6/ico_of_the_month_te_food/https://www.forbes.com/sites/larrymyler/2018/02/16/farm-to-table-how-blockchain-tech-will-change-the-way-you-eat/#2c38d4122c45Why should Te-Food be listed on a big exchange
They raised a decent amount of funds for market expanse. Not for filling their own pocket, as they could easily raise 2–3 times the hardcap amount. Instead they declined alot of big offers. This means there will be a big demand. This would suit both parties obviously. Getting on a decent exchange is good for gaining attention by other investors, which means growth, more users and more market penetration.
As mentioned above, there is already a working product which is being used. The product itself is brilliant. Helping the world trough blockchain, more projects like this in media would bring benifits for the whole cryptocurrency market as well. Less food poisoning, less fraud and fewer deaths thanks to Te-Food. I can see this being covered easily in newspapers and television in the future. This will give the exchange also extra exposure afcorse. ( now already in Vietnam on television )
The team doesn’t want to hype it too much, they gained healthy attention for doing the fund raise. No hard shilling or crazy stunts were needed. The main focus is achieving more countries that will be working with them. Marketing afcorse is also a part of this , which is being covered by Marton. I spoke alot to him and i am assured of his profesionallity to keep giving Te-Food more attention, which they also deserve. Other members of the team can be easily reached, which came in handy for getting more information on the project. They are very transparant, friendly and want the project to succeed. If you read this summary and clicked multiple links, you should be aware that the team is working very hard to accomplish that. The team mentioned that huge news is going to be announced. Considering their profesionality, the news will be really big.
Getting partnerships will trigger a domino-effect, businesses will have to start using it or they will left behind. Because people will prefer buying food from a traceable source instead and not from sources without traceable food. This project will have a high grow rate.
