CrushCrypto ICO Review TE-FOOD (TFOOD)...ICO Review: TE-FOOD (TFOOD) Decentralized Produce and...
Transcript of CrushCrypto ICO Review TE-FOOD (TFOOD)...ICO Review: TE-FOOD (TFOOD) Decentralized Produce and...
ICO Review:
TE-FOOD (TFOOD)
Decentralized Produce and Livestock TracingFebruary 10, 2018
PROJECT OVERVIEW
What is TE-FOOD?
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• TE-FOOD is a successful food
traceability solution that began in 2015.
• It is already used by 6,000+ companies,
managing more than 400,000
transactions per day and reaching 30
million people.
• The company that developed TE-FOOD’s
system, Erba 96 Ltd., has been around
since 1996 with numerous successful
projects (Hungarian Post, Budapest
Airport, Hungarian National Toll
Payment Services, SuperShop, etc.).
PROJECT OVERVIEW
Moving to blockchain
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• TE-FOOD is creating
an inexpensive,
scalable solution for
transparent tracking,
securing, and ensuring
quality of transported
food being
transported globally.
• The goal is to provide
transparency (both
geographically and
chronically) to all
parties involved.
CURRENT STATUS PLANNED DEVELOPMENTS
PROJECT OVERVIEW
How it works
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• TE-FOOD will train businesses, farms,
suppliers, butchers, and transporters in their
network to use their app and QR codes to
scan and log livestock, and other fresh foods
in transport from departure location (i.e. the
farm) to processors (i.e. butchers) to the
market, and every step in between.
• The other part is conscientious consumers
that want to know what kind of journey their
food has been on. They can then scan and
verify the timeliness of the food deliveries to
the market as well at the quality.
B2B APP B2C APP
PROJECT OVERVIEW
Process flow
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PROJECT OVERVIEW
Development roadmap
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TE Ltd. begins
development of
TE-FOOD in
cooperation with
Erba Ltd. (Q2)
Agreement
reached with the
government of Ho
Chi Minh City to
implement TE-
FOOD (Q2)
TE-FOOD launches
for tracking pig
and pork in the
HCMC region (Q4)
Chicken farm/egg
producer
employees trained
(10,000 total) (Q2)
Chicken and egg
tracking starts,
National Livestock
Registration
system starts in
Vietnam (Q3/Q4)
Food safety
sensors with
blockchain auto-
logging features
launch, expand
logging functions,
animal face
recognition; 2
additional target
countries will have
TE-FOOD market
presence (Q1/Q2)
TE-FOOD
International Ltd. is
founded (Q1)
Launch produce
and cattle tracking,
with expansion into
2 additional
countries. (Q2)
Launch seafood &
animal antibiotic
tracing, and TE-
FOOD marketplace
(Q3/Q4)
2015 2016 2017 20192018
TOKEN SALE OVERVIEW
TFOOD token sale summary
• Project name: TE-FOOD
• Token symbol: TFOOD
• Website: https://ico.tefoodint.com/index.html
• Hard cap: US$19.1M for 51% of total token supply
• Conversion rate: 1 TFOOD = $0.05
• Max market cap at ICO (fully diluted basis): US$37M
• Bonus structure: Week 1: 15%. Week 2: 12%. Week 3:
10%. Week 4: 5%. Additional bonuses for Volume:
$5,000+: 5%. $20,000+: 10%. $100,000+: 15%
• Presale or whitelist: Whitelist will be open for duration
of sale
• ERC-20 token: Yes
• Countries excluded: USA
• Timeline: From February 22 to March 22, 2018
• Token distribution date: Immediately
ICO SUMMARY
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TOKEN DISTRIBUTION
51%44%
5%Public token sale
General reserve
Marketing pool
ALLOCATION OF REVENUES
60%25%
10%5% Market expansion
R&D
Operations
Legal
PROJECT OVERVIEW
Use of TFOOD tokens
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• Used as a medium of
exchange between
businesses and to
reward customers.
• Tokens can be used to
purchase higher quality
insight and food quality
analysis services.
• Value will be driven by
the number of working
partners and consumer
adoption.
THE TEAM
Who are the people behind TE-FOOD?
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Dr. Trung Dao Ha
Co-CEO
Over 14 years’ combined experience
in various leadership, marketing, and
sales positions, such as being
honorary consul at the Austrian
Consulate in Vietnam, and his most
recent experience being co-Founder
of Thien Minh Group.
Erik Árokszállási
Co-CEO
Over 20 years’ experience as CEO of
Erba 96 Ltd., which is a small
business of 30 software experts.
Marton Ven
CMO
Over 20 years’ experience as IT
project manager at Erba 96 Ltd.
Istvan Szukacs
DevOps Blockchain Team
Over 14 years’ combined experience
in various leadership, marketing, and
sales positions, such as being
honorary consul at the Austrian
Consulate in Vietnam, and his most
recent experience being co-Founder
of Thien Minh Group.
OUR THOUGHTS
The opportunities
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• The company works with some of the biggest retail chains/farming companies in Asia
such as C.P. Group, JAPFA, Lotte Mart, AEON, as well as the government of Ho Chi Minh
City, the largest city in Vietnam. Each one of them is a large volume purchaser, so it is
expected that TFOOD tokens will have heavy usage.
OUR THOUGHTS
The opportunities
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• More advanced than other supply chain-related blockchain projects in both business
development (30 million customers) and technology (hardware & software developed).
TE-FOOD Ambrosus Modum WaBi Waltonchain
Token symbol TFOOD AMB MOD WABI WTC
Circulating
market cap*
US$19.1M US$72.7M US$58.4M US$69.3M US$543.9M
Description Fresh food supply and
quality ecosystem, which
tracks livestock and fresh
food from farm to table.
Food and medicine
quality ecosystem using
sensor hardware,
blockchain protocol, and
smart contracts.
Blockchain integrated IoT
temperature logger,
which track temperature
of pharmaceutical
products.
Product genuineness
verification combined
with a retail payment
solution and loyalty
system.
General traceability for
everything on
blockchain, based on
cutting edge RFID
technology.
Traction 6000+ business
customers, daily 400,000
transactions, 30 million
consumers; apps have
60,000+ downloads on
Google Play.
Product under
development; pilots
underway.
Product under
development; 3 pilot
projects (one of them is a
paid pilot).
Market tested as a pilot;
500 downloads on
Google Play.
Development phase;
pilot project for the
clothing industry
planned for September
2018.
* As of February 10, 2018 for Ambrosus, Modum, Wabi and Waltonchain per Coinmarketcap.
OUR THOUGHTS
The opportunities
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• TE-FOOD has multiple products (QR code as well as RFID tags) to cater for different
types of products.
Plastic security
seals (1D/2D
barcodes)
Label stickers
(2D barcodes)
RFID tags Printed paper
bags (2D
barcodes)
TE-FOOD scale
labels (2D
barcodes)
OUR THOUGHTS
The opportunities
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• With the use of TFOOD, small farms can
compete more effectively with the big
players because they can also ensure the
safety of their produce at a cost effective
manner.
• The team is very thorough in its
communication on their blog in terms of
their vision, their partnership agreements
(with the actual agreement posted),
company structure, and progress update.
This provides comfort to ICO participants in
the legitimacy of the project and
competency of the team.
OUR THOUGHTS
Our concerns
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• The company has a strong
footprint in Vietnam, but their
ability to replicate the success
to other countries is
unproven because the food
and agriculture industry in
each country is very different.
• Profitability / going concern
issues if they are unable to
meet their fundraising targets.
TE-FOOD’S TARGET MARKETS
OUR THOUGHTS
What do we recommend?
For flipping: Positive.
• The idea, team, development progress, and token metrics are all above average. Certain previous
projects in the supply chain space have been well-received by the market so we believe this project
can also do well.
For long-term holding: Positive.
• TE-FOOD’s customers are some of the biggest grocery chain/farming companies in Asia. Very few
blockchain projects have a customer base as strong as TE-FOOD.
• Tracking food in a cost effect manner is a big use case for blockchain technology and we believe
this project has a good chance of being successful.
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