This is a project I do not think you should miss out on, it is an absolute investment. The ICO has come and gone but if you did not contribute during the tokensales, do well to get some on the exchanges. This project is so popular and real that it sold out in under 3 hours of opening sales.
I am going to do a simple, concise and yet in-depth analysis of this project to help point out the many facts and achievements that stands TE-Food out.
ABOUT TE-FOOD:
TE-Food is a decentralized platform coming to blockchain with the aim of making sure that we know exactly the history of what we eat. It is deploying a farm-to-table food traceability solution system, mostly livestock and fresh foods. This has been implemented in Vietnam since 2016, with focus on the emerging market. It is a pioneer in the ecosystem.
TE-FOOD is a product of TE Ltd., a Vietnamese company incorporated to operate a food traceability system. While Erba 96 Ltd., a Hungarian company, was contracted as an IT development partner of TE Ltd. from the start of the offchain version of the product. The lead team come from both companies, and taking the project to the Blockchain.
HOW THE SYSTEM WORKS
At every point in the whole supply of the chain, TE-Food deploys Identification tools to be applied to the livestocks, transports, and fresh food packages, to effect controls and checks. It works in a reverse process as well for the consumer, in that fresh food products in retail can be traced back to their origins together with food safety related information. And this is where the mobile app Zalo comes handy for you. See the picture for more details:
QUICK FACTS AND STATISTICS:
- The company has 21 years of business history
- 6,000 business customer base
- Steady 400,000 transactions/day and growing
- Currently serving 30 million people
- Has 10,000 users trained in 1 year
- Tracking 12,000 pigs, 200,000 chickens and 2.5m eggs daily
- Food traceability market worth $15bn
- Rated above 4.0 average by most credible ICO review websties
- Strategic partnership with Zalo (an app with over 70m users) to scan TE-Food labeled products. Wide adoption is expected through this move.
- Operating offices in Vietnam, South Africa, and Hungary and business negotiations in Laos, Cambodia, and South Africa, to expand their business
- TE-FOOD is already being used by 3100 farms, 3400 livestock agents, 2600 retailers and markets, 190 wholesale distributors, 70 slaughterhouses, 35 food producers, 25 veterinary companies, 30 wholesale markets. What this means is that this project is not a concept but a working business.
STRENGHT:
TE-FOOD as of this moment is the only project disrupting fresh food ecosystem, which integrates supply chain companies, consumers, and governments/authorities to improve food safety, eliminate food frauds, and decrease costs of the supply chain companies. It is almost a monopoly in this space.
The customer base to implement the tokenization is already in existence. This is the most important part of the statistics that I wanted to point out. It is no ordinary hype, the names of some of these customers and their links are boldly published on their ICO webpage which can be found on https://ico.tefoodint.com/
This was practically the major reason for the high hype and why the ICO sold out in matter of hours. An ICO based on a working business model with a customer base and revenue stream instills a higher level of confidence in the investment. Those are the things most investors consider first. TE-Food has developed and implement this disruptive market for years which involves all participants in the Vietnamese food supply chain, consider that as no easy feat to achieve.
The project is also very transparent in how it carries out its traceability operation and partnership with other companies, always making sure that their community is duly informed of their progress and challenges. This is another plus.
This project promises incredible Health and Social positive impacts, and these give indication that governments/authorities will back this project in some capacity. These benefits include:
- Decrease in food frauds,
- Improvement to public health,
- Mitigate overuse of antibiotics in food animals and
- Mitigate migration caused by climate change.
COMPETITION:
TE-Food has considerable competition in WABI, Ambrosus, Modum and Waltonchain. The good things is that they are aware of this and have taken time to publish their comparison with each of their competitors and how TE-Food is better and/or plans to take over a bigger portion of the market. This can be found here https://medium.com/te-food/tagged/competition
One thing for sure is that Vietnamese market belongs to TE-Food and insulates them from competition on that front. They also plan to expand into markets where these competitors are not popular before they do.
TOKENOMICS
This is to explain how TE-Food tokens can be used to generate value through use in the ecosystem. This can determine how rewarding it would be as an investment as well. Refer to the image below:
THE TEAM
The team need no introduction and hype. Their work speaks for them. TE-Food spans a team of 21 experts with over 290 combined years of experience in the field of food, agriculture, business, management, health, IT and Blockchain. Their Linkedin link are attached to their profile on the ICO page for more details. See https://ico.tefoodint.com/
PROMINENT PARTNERS:
- GS1: A worldwide operating NGO that develops and maintains global standards for business communication.
- Unisto: a Swiss based international manufacturer of security seals.
- Zalo.me: a free VoIP mobile application with over 70 million users.
MEDIA CONTACTS:
Website: https://www.tefoodint.com/
Blog: https://medium.com/@te_food
Twitter: https://twitter.com/TE_FOOD
Facebook: https://www.facebook.com/tefoodintl/
Linkedin: https://www.linkedin.com/company/11284449/
CONCLUSION:
This project will be a huge success, all indicators point to that. It is an asset. I am going to get more on the exchanges once they are listed.