TE-FOOD

TE-FOOD (TFD)

Hype rating: 42

Coinmarketcap Rank: 406
Status: Ended

Description: The world's largest farm-to-tale fresh food ecosystem goes to blockchain.

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Start of ICO 22.02.2018 End of ICO 22.02.2018 Hard cap $19,100,000 Raised $19,100,000 (100.0%) Token Sale Price $0.05000 Whitelist Closed (Until 17.Feb.2018 JOIN) KYC YES

Current token price:

  • USD
  • EUR
  • CNY

$0.007119 €0.006286 ¥0.049111 (2.04 %)
Market cap Volume (24h) Circulating Supply Total supply Return
$3,602,732.00 €3,180,938.00 ¥24,852,723.00 $7,085.91 €6,256.32 ¥48,880.76 506,049,221.00 TFD 567,917,833.00 TFD x 0.14

Telegram members 2703 24h change 0 7 day change -6

Reddit subscribers 1540 24h change 1 7 day change 5

Alexa rank 155356 24h change 1472 7 day change 5067

Twitter followers 11777 24h change -2 7 day change 52

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Dr. Trung Dao Ha
CEO

Enterpreneur, president of the High Tech Association HCMC. 20 years of strategic leadership, marketing and sales experience in Asia and Europe.

Erik Arokszallasi
CEO

Enterpreneur, leader of two successful corporate IT development companies in Hungary (Erba Ltd., Flexsys Ltd.). 23 years of leadership, and IT project management experience.

Marton Ven
CMO

Enterpreneur, marketing leader of IT development companies (Erba Ltd., Flexsys Ltd.). 21 years of marketing, sales and project management experience.

Gergely Koves
Project manager

Former Ernst & Young consultant, and long time manager of environmentally conscious projects.

Katalin Vereczkey
Food industry expert

Master in Plant Protection, 18 years at Syngenta in several managerial position for diverse portfolio & agriculture technologies in broad geographical areas. Experineced in Digital Agriculture at different companies.

Dr. Gabor Pajor
Food industry expert

Veterinary - Informatics. 20+ year experiences in data analysis, data science, data mining. Digital Agriculture expert in the Big4 environment, founder of the Hungarian Precision Agriculture Association.

Endre Jobbagy
Blockchain and business consultant

Founder and CEO of Interticket, a traditional software company operating globally. Co-founder of Blockchain Competence Center, a European management consulting and professional service company specialized in the Blockchain industry.

Dr. Michael Patching
Independent Animal Welfare and Husbandry Advisor

Australian Veterinarian with a Masters in International Animal Welfare Ethics and Law and 13 years experience as a large animal veterinarian. Michael is the current Vietnam Livestock Services Manager for Meat and Livestock Australia(MLA). MLA is the Australian red meat industry service body that works with both Government and industry globally to support the ongoing development of international markets with a focus on improving animal health and welfare, market access, and supply chain capacity.

Abraham Endre (Silur)
Chief Architect, blockchain team

Cryptographer and programmer. One of the authors of cSploit and contributor to known security frameworks, member of Ethereum Foundation's ewasm and research team. 

Gabor Nagymajtenyi
BDO Leader, blockchain team

Founder and owner of successful corporate IT development companies in Hungary. 20 years of leading edge technologies, security and scalable architectures.

Istvan Szukacs
DevOps, blockchain team

Over 15 years of experience with various Fortune 500 companies and startups. He has managed changes in large scale infrastructures without downtime while customers were actively using the system. Besides engineering István has experience in managing onshore & offshore software teams delivering mission critical systems.

Attila Szabo
Lead Developer, blockchain team

Over 12 years of experience in software engineering, focusing on large scale systems in the financial, chemical, big data space. 6 years experience in part time lecturing in computer science (ADA, Java, TDD, Parallel programming).

Daniel Csendes
Blockchain technology consultant

An economist, investor and entrepreneur with fare share of experience at multinational companies and startups. Blockchain and cryptorcurrency expert.

Tamas Biro
Mobile app developer

10 years of software development experience with corporate, mission critical systems.

Miklos Csaszar
Senior sotware engineer

11 years of software development experience. Server side back end professional.

Gergely Mate
Software developer

5 years of software development experience. Specialist of AI algorithms.

Zoltan Vadovics
Software developer

13 years of software development experience.

Laszlo Szentmiklosi
Hardware/software developer

14 years of hardware and embedded software development experience.

Bence Kadar
Database specialist

6 years of database administration experience.

Gyorgy Varga
Senior IT infrastrucutre engineer

17 years of Linux system administration experience.

Jozsef Tatar
IT infrastrucutre engineer

11 years of system administration experience.

Elements of TE-FOOD

How TE-FOOD works

TE-FOOD enables all companies of the fresh food supply chain to manage logistics and food safety related data in their operations.

Identification tools of various technologies are applied to livestock, transports, and fresh food packages to follow the items throughout the whole supply chain. Fresh food products in retail can be traced back to their origins together with food safety related information.

TECoins represent a payment tool to use within the TE-FOOD system. It can be used for the following purposes:

1. Pay for transactions
2. Pay for value added information
3. Rewarding conscious consumer behavior for using our Consumer mobile app
4. Consumers can buy quality analysis services

TE-FOOD in numbers

What is the business model of TE-FOOD?


TE-FOOD’s revenue sources:

1. Selling physical and logical identification materials
2. Charging transactional costs
3. Selling food transport environment sensors
4. Charging monthly or sales volume dependent fees on the marketplace

TE-FOOD has more implementation models. It can be implemented by a company (food producer, retailer) to require traceability data from its suppliers, or it can be implemented by a government for the whole supply chain in one or more geographical regions / food categories. For government implementations, TE-FOOD prefers PPP (Public Private Partnership) model, where the government acts as regulatory authority, not as customer. TE-FOOD provides consultation services for the authorities, does the implementation, and trains the supply chain.

Social problems to solve

Food safety

  • 1 in 10 people gets ill each year from foodborne diseases.
  • Lack of food safety processes result in the death of 400,000 people, mostly children
    under age 5.

Antimicrobial resistance, overuse of antibiotic drugs

  • Common overuse of animal antibiotics caused the emergence of antibiotic-resistant infections, which totals $20 billion in health care costs each year only in the U.S.
  • By 2050, antimicrobial resistance (AMR) can cause low-income, developing countries to lose more than 5% of their GDP and push up to 28 million people into poverty.

Economic inequality

  • Food sector is the most affected industry by economic inequality.
  • Employees in agriculture among lowest earners.

Migration caused by climate change

  • Climate change has the biggest negative impact on the agricultural sector.
  • Migration caused by climate change is a growing threat to a lot of emerging countries, which has serious global impacts.

Food frauds, mistrustful supply chains

  • Public sector corruption takes out $1.5 trillion to $2 trillion annually from the global economy in the form of bribes and costs far more in stunted economic growth, lost tax revenues and sustained poverty.
  • Food frauds have serious economical impact of $55B.

Low VAT revenue, high VAT rates

  • In a lot of developing countries it is very hard to follow the real quantity of retail transactions, which results in high VAT rates on legal trading to compensate the loss.

Read more about how TE-FOOD addresses these problems

 

Market size

Global food traceability market will reach $15.1 Billion by 2021 (Allied Market Research). 

Growth rate

Compound Annual Growth Rate of food traceability is the highest in Asia-Pacific (16.7%) compared to the rest of the world (5.5-8.7%).  (Allied Market Research)

Target markets

TE-FOOD’s primary target markets are the emerging countries. The reasons:

  • 65% of the food frauds, foodborne illnesses and deaths happen in the emerging countries
  • In many emerging countries, corruption is very strongly present in food supply chains, and is a major obstacle in making supply chains transparent. However, there is a strong will in governments to make this industry cleaner, which gives a strong regulatory background.
  • Supply chains in emerging countries lack any form of a traceability system. But they have the opportunity to skip several stages of technological advancement. They simply leave out DOS based applications or Excel, and jump from paper based transaction register directly to blockchain based, mobile app driven operation using QR codes.
  • Growing middle-class in emerging countries, and increasing awareness among population drives growing demand for consumer level product history insight. Our technology and implementation methodology fits perfectly in the needs of emerging countries.
  • Emerging countries represent 60% of the world's population and 45% of its GDP.

 

Comparisons

Read our Due diligence blog post series:

Our team in Vietnam

 

As a ready solution, TECoins are immediately usable after the token sale to buy services on TE-FOOD.

Fact sheet

Token name

TECoin

Token symbol

TEC

Utility of token

TECoin represents the identity and information data of tracked items. Supply chain members pay with tokens for transactional fees, and value added item information. Consumers are paid for using the Consumer mobile app and read food product QR codes, and can buy quality analysis services.

Total token supply

1,000,000,000 TEC

Tokens for sale

400,000,000 TEC (40% of total)

List price of TE coin

1 TEC = US$0,05

Token sale volume

US$16,000,000

 

Public sale

Start

22.02.2018

End

22.03.2018

Bonuses

Bonus levels are based on time intervals, and additional volume discounts based on individual transaction values:

1st week - 15% 
2nd week - 12% 
3rd week - 10% 
4th week - 5%


Additional bonuses based on individual volume:

$100,000 and above - 15% 
$20,000 - $99,999 - 10% 
$5,000 - $19,999 - 5%


Examples: 
Contributor A: 1st week + US$100,000 = 30% bonus (15%+15%) 
Contributor B: 1st week + US$6,000 = 20% bonus (15%+5%) 
Contributor C: 1st week + US$1,000 = 15% bonus (15%+0%) 
Contributor D: 2nd week + US$100,000 = 27% bonus (12%+15%) 
and so on.

Accepted payment options

ETH, BTC, USD, EUR

 

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