I want to explore the ways that blockchain technology can help streamline one of the largest global industries, the food industry.
This one is definitely in need of a blockchain intervention.
Today I want to focus on two blockchain based companies that are focusing on doing just this.
FoodCoin and INS are similar in that they are addressing the issues that arise from the massive retailers having too much power in regards to dictating how manufacturers products reach their consumers. But here’s how their different:
This one seems to be focused more on liberating the agriculture market and local farmers. They will be using the Ethereum blockchain for their active platform that supports 1000 ecofarms. FoodCoin is also focused not only on the farmers but also the processors, distributors, restaurants, farmer’s markets and things like this.
This project is more focused on the broader market of food manufacturers both global and local. They will be providing a platform for both universally recognized brands and those who are local and are getting screwed over by the rules set forth by current retailers who force price mark ups and other requirements that small providers can’t quite handle.
In addition to providing a platform for these manufacturers and consumers to interact more directly, INS is giving third party distributers the chance to take full advantage and better capitalize on their resources for the benefit of all parties involved.
In a world where millennials are now forcing change in many different industries by wanting locally made/grown, and a customizable shopping experience, it looks like FoodCoin and INS are both very much aligned with these desires.
It certainly seems they are going to be providing services that will be very much in demand in the near future.
That being said, here is an interview with myself and one of the founders of INS, Peter Fedchenkov.
INTERVIEW QUESTIONS:
(If you want to hear the answers you'll have to check out the video ;) )
Your team has a background with retail, and with the food industry in particular, how long did it take for you to want to take action and create a system that removes retailers from the equation?
Was there any situation or incident in particular that inspired you to pursue this venture?
Another issue that occurs with grocery retailers is that of waste. Food expires on the shelves and becomes useless for the retailer, so they have to throw it away. How can INS help with this issue?
What does the online grocery industry look like now? How many people actively use this to get their groceries? Is there an area or country where this is most popular? Which area do you see this technology having trouble gaining popularity?
How easy will it be for small, local producers to use your platform?
Aside from Amazon, are there any other online grocery services that you see as competition?
Where do you plan on having your first distribution centers?
What is the medium that the manufacturers will use to directly interact with and promote their products to the consumers? App, website chat, email? Is this something that you think consumers will want?
Are you working on having INS added to any exchanges? If so, which ones?
There will be 20% of the tokens created from the ICO to be set aside for the use of referral rewards. How will this reward system work?
How does the INSP promo token work and how can someone attain it? How would someone use it?
P.S.
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Additional Reading/Sources:
FoodCoin Website
FoodCoin White Paper
FoodCoin Twitter