This one is close to my heart…
Well… ok… closer to my belly.
Jokes aside… Everybody needs to eat and more people are realising that chemical-saturated genetically modified food substances are low-quality and bland at best, potentially damaging to our health and planet at worst.
Food is becoming ever more expensive due to tariffs, taxes, inefficient systems, global economic problems, governmental regulations, and it seems to be getting worse in the next few years.
Yikes. But fear not…
Blockchain to the rescue.
Combine the quality of food, with the cost of food, and that’s where FoodCoin comes in…
What is FoodCoin?
“Global blockchain ecosystem for agriculture and food businesses”
In a nutshell: using smart contracts to manage food farming and distribution, then selling to the end-consumer directly at lower prices.
When is FoodCoin ICO?
Late August 2017. If you’re early enough you’ll get the pre-sale bonus.
This quick video reveals the concept behind FoodCoin:
What I like most about FoodCoin is: It’s focused on clean, healthy, natural food, including organic.
But organic is so expensive, right?
Believe me, I know. Because I shop at Planet Organic in London every week and my wallet feels the pain!
FoodCoin’s focus is to reduce the cost of natural foods by helping to make the entire industry more efficient.
How? By connecting farmers, distributors, end-consumers and other stakeholders throughout the value chain.
FoodCoin’s current eCommerce site is 1000ecofarms.com.
It’s not the most attractive design, and some of the menu items don’t work properly. But let’s keep this in perspective. It’s in ICO phase and already has a product in use. That’s more than we can say about many ICO’s which have raised a lot of money recently.
And the natural food market is already HUGE and set to grow geometrically in the coming years.
“Over $ 1 trillion healthy food market worldwide (source: Euromonitor)”
FoodCoin looks very well positioned to take advantage of that growth, acting as a central hub for agriculture around the world.
“The Mission of FCE as a business platform is to form a fully-featured ecosystem, bringing together all economic agents (sellers, buyers, banks, insurance and logistics companies, internal revenue service, customs, etc.) into a single blockchain platform.”
– whitepaper page 7
And 1000EcoFarms is already growing fast!
“Over 4000 registered users;
Over 650 sellers in the United States and Russia
Over 1500 products on the site;
Sales started October 2016 and growth averaging 20% per month!”
– whitepaper page 9
What will FdC do with the ICO funds?
The amount of blockchain infrastructure and smart contract requirements is extensive and well presented in the current whitepaper.
The FdC token that is created by the ICO will be used for payment on the 1000EcoFarms site and be tradeable on crypto exchanges.
Quick FoodCoin ICO Summary
I think this sums it up well:
“At the pre-sale stage, the Foodcoin (FdC) token will be distributed among the visionaries and enthusiasts who understand the need for implementation of the blockchain technology to the basic needs of society.” – whitepaper page 18
We’ve covered a general overview of FoodCoin’s ICO and what they intend to do for blockchain agriculture industry. It looks like they’re set to be a market leader in the years ahead.
Of course, there are still many more questions to consider here:
– Who is the team behind FoodCoin and what is their experience?
– Do you find the team’s background to be sufficient to lead the project to success?
– What does the Crypto community, in general, think about this ICO?
This is part of the fun, enjoy the investigative process of doing your own due diligence.
Stay tuned for more of our takes of upcoming ICOs.