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The article is a discussion on CIBUS Whitepaper, value proposition of CIBUS World ICO and contains my personal opinion.
The state of Food Industry Right now
For long Food Industry has been suffering from several challenges that it hasn’t been able to address well so far. In today’s modern landscape where the technology is changing our lives continuously; the food industry too shouldn’t remain unscathed from the impact. But sadly, the latest advances in tech hasn’t really reflected in the food as well as global supply chain industry.
New challenges for the business in the food industry have arisen from both outside as well as inside the industry — The companies have to cater to the increased consumer expectations as well as bottlenecks in the supply chain side.
Let’s be honest here, consumers are not wrong in expecting that the Food industry solves or at least tries to address in a better way the old age problems of food quality, authenticity and a transparency in the whole product life cycle. Worried about their health and as well as because of the malpractices of some of the producers in the food industry, consumers are more and more concerned about what goes inside a product they are eating, and not just that want to understand what condition it was produced (authenticity) and how it is supplied from the manufacturer to the end retailer.
With the advent of Technology, specially mobile technology where you can just scan the product and understand all about it, food businesses can no longer take customers for granted and have to oblige to provide greater transparency.
It all makes complete sense, if I am paying for the quality then as a consumer I have the right to be assured that the product is in-fact as genuine as it claims to be. Also, at the same time if a consumer is not satisfied with his purchase, he wants a way to express his concerns to the manufacturers effectively.
In short the Producer Consumer Chain needs more transparency, and it’s the technology which can bridge this gap.
The Producer Consumer Chair Needs More Transparency
The need for Blockchain Technology in Food Industry
Blockchain, as we no today, is the most cutting edge technology of them all. The unique properties that Blockchain has are actually solution to many of the problems that plague Food industry. Let’s go through these features one by one.
Transparency
Tracebility
Scalibility
Real time updates
Trustworthiness
The shared ledger helps inculcate all these aspects at one place. On these ledgers distributed among its participants (Trustworthiness) one can see all the transactions (transparency), the ledger in itself can’t be modified (prevents fraud) acting as a sort of agreement between the parties, and finally the transactions are updated almost instantly (real time updates).
Due to the increased transparency every player in the supply chain (including the end consumer) is assured of integrity of the products. Good or bad, the products are exactly what the manufacturers claim them to be. And of-course the bad ones would weed out, there is no place to hide your fraudualent pracatices.
The Role of Cibus
The Cibus Ecosystem — and its participants
The Challenges and the Solutions
Cibus is commited to implement the Blockchain tech in the Food Industry and thus provide a unique solution to the above mentioned issues.
The whole CIBUS ecosystem has three important components: The tech platform which provides a myriad of a services to Food businesses and consumers, the CIBUS community who are the participant in the platform and the CIBUS token which facilitates the transactions between different entities on the CIBUS platform.
The Cibus Vision
CIBUS Architecture
The Goal of Cibus world is to add transparency to the whole supply chain process from the manufacturer of the food to the end consumer. The current supply chain is based on outdated tech (where are the live updates? Feedback loops? Product autentication?)
Cibus belive the global supply chain can be transformed by introducing the Blockchain technology, creating enhanced trust between the producers and the consumers. This trust will in turn drive the businesses to the new heights and give peace of mind to the end consumers.
Not just the software but CIBUS also intends to add hardware to complement its platform, so that any bottlenecks or chances of errors while capturing data can be removed.
CIBUS protocol is based upon the existing Ethereum smart contracts thus leveraging a even larger pool of proven architecture.
Cibus Roadmap
The development of CIBUS platform is divided into two phases. The CORE enablers will be developed in the first phase, and the rest would be developed in the second.
Phase I
Cibus Trace: Includes implementation of tracibility on the Blockchain and improved safety measures.
CIBUS TRADE
CIBUS will help B2B participants save money and perform transactions in a trusted manner. Cibus Tokens would be used as a currency and transaction would take place using the CIBUS wallet.
Cibus Social
A multilingual social networking platform facilitated by automated translations which will allow consumers to undertand the ingredients of their food better. The users would be able to discuss all things food, such as the recipes, nutrition facts and as well as interact with the industry experts.
Cibus Retail
It is envisioned as a B2C platform to facilitate the sales of high quality food products between the Businesses and Consumers. The saving for consumers would be as high as whooping 40%, it done by enabling the consumers to directly purchase from the manufcatures.
Phase II
Cibus Affliate
Bloggers and Inlfiencers would be able to promote relevant health and food products and earn an income for themselves through the affliate system. The promoters will be paid in CIBUS tokens directly in their wallet.
Cibus AD
It will help the businesses target the right consumers by utilizing the profile data. The consumers would benefit from receiving relevant ads which pertain to their food preferences.
Cibus Escrow
The goal of the Escrow platform would be to enable manufacturers and traders to trade in a safe manner.
Cibus Logistic
Smart Contract enabled geo tracking would be one of a kind solution in Cibus Logistic. Ability to track delivery will help both the consumers as well as the producer (removal of fake claims by consumers).
Cibus Team
The CIBUS comprises of veteterans and industry experts from tech, business and the food industry.
The CEO of the company is Mr. Arindham Biswas, his profile on LinkedIn. On the food industry side, Upasana Nath is providing her expertise. She can also be found on LinkedIn.
Cibus Token Sale
CIBUS Tokens are the essntial part of the CIBUS ecosystem and are used for conducting trades between the participants. CIBUS will be starting the token sales, below are the important dates:
Token Symbol: CBT
Token exchange rate: 1 ETH = 1000 CIBUS Token
Payment methods: BTC, ETH, LTC, DASH
PRE-TGE TOKEN SALE END DATE: 10:59 AM (GMT) on February 28, 2018
ICO Token Sale Start Date: 11:00 AM (GMT) on February 28, 2018
Soft cap: 5,000,000 CBT
Hard cap: 40,000,000 CBT
Total token supply (max): 100,000,000 CBT
Min purchase: 10 CBT\
My Opinion
Reading through their white paper and the profiles of their team, CIBUS World seems serious about solving a real world problem in the Food Industry. The project looks very ambitious, which is also a risk factor considering they are out to build a whole ecosystem.
Their vision as well as some of the details of how are they going to execute sound grounded, and if they follow through it, they would deliver a great value in the Food space.
It’d be interesting to follow the company as it goes on implementing its Roadmap.
Further information can be found here:
Whitepaper: https://drive.google.com/file/d/1KrPfMOiahljZNWj0Oo-8TunwJrs-Wr-d/view
Telegram: https://t.me/joinchat/HJRWEA46ubc7gFRBbwny1Q
Ann Thread: https://bitcointalk.org/index.php?topic=2713416.new#new
Facebook: https://facebook.com/cibus-1812771722347122/
Twitter: https://twitter.com/cibusworld
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Disclaimer: All the information is provided here is as is and do not consider this as a financial advice. My opinions are mine with no financial/other implications to anyone else. I have tried to be as accurate as possible but some info can be wrong too. I can’t be held responsible for any kind of damage (e.g. financial/ physical/ mental or anything possible) done to you. Please do your own research.
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