Feedchain is a new startup that aims to decentralize food industries with blockchain technologies. The Ethereum based platform aims to create its own tokenized economy that will help millions of people around the world to create food businesses using their houses. With the company’s own cryptocurrency, FEED tokens, home chefs can use their houses a restaurant business, farmers, fishers, and gardeners can bypass all the daunting barriers associated with setting up a traditional food business. Feedchain is attempting to revolutionize the food industry by bringing it into the “sharing economy” similar to other massively successful startups like Uber and Airbnb.
The goals of this Cayman Islands-based start-up are far beyond purely financial into the realm of humanitarianism. The implications of their model are astounding. The success of their well-formulated business plan would surely mean a global revolution in the way food is grown, distributed, cooked, served, and enjoyed.
Feedchain’s unique global solution will fuse food systems and blockchain technology, creating a peer-to-peer system like no other.
The economists and food experts at Feedchain have identified several major issues with the modern food industry that create problems for millions of consumers. These previously unaddressed problems created a massive hole in the market and have produced stagnation in many traditional food industries for decades.
The centralized nature of the food industry and governmental favoritism of massive food corporations are at the forefront of all of these problems. The barrier to entry can make even simple restaurant and farm businesses impossible for the average person. The overhead of starting a restaurant and the operational costs are so high because of high-interest loans paid to big banks, and the economies of scale used by mega-corporations to make competition impossible.
Many governments of the world are deeply against the idea of connecting food to the new sharing economy. Their relationships with lobbying corporations blind them to the reality that the entrenched centralized system keeps millions of prospective entrepreneurs out of the market, suppressing a massive financial potential to the global economy.
Without proper competition, the cost will continue to be high, while the quality and variety remain low. People all over the world without access to banking or without enough capital to compete with big-business will remain an untapped source of billions of dollars of global revenue.
These major problems are unavoidable in fiat currency-based economies. By establishing a new food micro-economy on the blockchain, the food industry could become decentralized and transparent. In this new system, chefs and farmers can use their homes as food businesses, thus bypassing the major costs of entry. These small businesses would be run through a large stack of advanced connective technologies, would bring millions of people out of unemployment, and create wealth across the globe.
The produced meat, fish, and other plant and animal-based products that they buy on a daily basis would become less expensive, fresher, and closer to their homes. Feedchain systems could usher in a boom of “local” food businesses that benefit the individuals in your communities for providing you with safe and affordable products and services.
The network would run on a free application from which chefs and farmers could list, describe, and advertise their home-based businesses, and customers could browse through a variety of local businesses based on type, proximity, and rating. The implementation of the FEED cryptocurrency into this system means that payment is secure, transparent, and instant. Thousands of investors, producers, and consumers would all back this easily exchangeable global currency, allowing for convenience and profit to all parties involved.
The scope of this project is immense, but the company has laid out an intelligent roadmap for its implementation. To raise funds for the plan, an ICO has been announced. A private sale, in which investors will receive a 100% bonus for their contribution, is scheduled to begin on June 10th, 2018. The ICO presale, available to the public, will commence on July 31, 2018 with a soft cap of 1680 ETH. The main ICO begins on Sept 1 and ends on Sept 30. The token price for main ICO will be 0.05USD.
Feedchain will use this funding to expand their infrastructure, hire new developers, food-systems experts, and economists, while simultaneously developing their web and smartphone applications.
Within the world of blockchain -based startups, Feedchain is an outlier Rather than simply attaching a new coin to an unoriginal business plan, they are attempting to combat some of the most serious problems the world faces today.
The success of this startup would give people across the globe access to affordable and high-quality foods, stimulate economies by lowering unemployment and fostering entrepreneurship and improve the eating experiences of food-lovers everywhere.
In case of any queries, drop a message to Admin@feedchain.io.