TE-FOOD is the world's largest publicly accessible, farm-to-table food traceability system. Started in 2016, it serves 6000+ business customers, and handles 400,000 transactions each day. TE-FOOD is the only fresh food ecosystem which integrates supply chain companies, consumers, and governments/authorities to improve food safety, eliminate food frauds, and decrease costs of the supply chain companies. Blockchain as transaction ledger will provide more credibility, and a possibility to create a global food information ecosystem. TE-FOOD's main focus is on the emerging countries, which account for 60% of the world's population, but need massive technological disruption because of the level of distrust in their food supply chains.
TE-FOOD is a food traceability solution, used by 6,000+ companies, managing more than 400,000 transactions each day, reaching 30 million people. Dedicated to improve food safety, fight off corruption, support fair trade, and build trust between the food supply chain companies, consumers, and authorities in the emerging markets.
Quarter 2, 2015
Quarter 2, 2016
Quarter 4, 2016
Quarter 2, 2017
Quarter 3, 2017
Chicken and egg tracking starts
Quarter 4, 2017
National Livestock Registration system starts
Quarter 1, 2018
TE-FOOD Internationa and South Africa is founded
Quarter 2, 2018
Tokenization of TE-FOOD launches
Quarter 3, 2018
Quarter 4, 2018
Cattle tracking is launched
Quarter 1, 2019
Fruits and vegetables tracking is launched
Quarter 2, 2019
Market presence in two additional countries
Blockchain as a traceability ledger implemented
Fish and seafood tracking is launched
Marketplace is launched
Food safety sensor tools are ready
Extended farm management tools ready
Animal face recognition is ready
Market presence in 4 countries
Attention. There is a risk that unverified members are not actually members of the team
Opportunities: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 TFD tokens will have heavy usage.This project is more advanced than other supply chain-related blockchain projects in both business development (serving a customer base of 30 million) and technology (both functioning hardware and software are developed).The team has detailed their differences with other supply-chain blockchain projects like Wabi, Waltonchain, Ambrosus, and Modum.
Concerns: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. However, the company has set up offices in Hungary and South Africa and has made some key hires in the two countries.
Conclusion:Overall, we like both the short- and long-term potential of this ICO. Our thoughts of the tokens for short term and long term are as follows:For short-term holding:Good. 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:Good. 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 at a cost effect manner is one of a big use case for blockchain technology and we believe this project has a good chance of being successful.
TE-FOOD is an already functioning system with developed software and set up hardware, have huge and significant business customers, excellent team with solid experience in the same sphere. The transparency of the system allows small farms to compete the existing food producers on the market. One disadvantage we’d like to mention is their location in Vietnam which is also their main target market. So, scaling the project on other countries will be a kind of challenge. Anyway, we evaluate this project much higher than average and see it as preferable comparing to other tracing projects based on blockchain.With TE-FOOD, you can go to a shop or food market and use your smartphone to scan a label on any product to see its complete history, and what is important you will trust the information because it’s protected with blockchain. We like it.
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