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TE FOOD- Possible Path Breaker In The Blockchain Space

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73% of top olive oil brands fail to meet the standard test to carry ‘Extra Virgin’ in the label.  There were over 95 seizures of counterfeit extra virgin olive oil cases in Italy alone. Imagine what you place trust on might be a fake product and you might be paying premium for a fake. TE food will ensure what you are eating.

You might be paying premium for a fake.

Similar stories surround organic beef, organic green tea, etc. etc.

Consumers do not have an authentic way to verify that what they are paying for is a genuine product or not, and businesses cannot curb the middle men from switching their products with fake ones.

Counterfeit is a big problem.

Especially in fresh, health and specialty food area.  Because of the nature of the problem, blockchain technology is placed in a unique place to offer solution.   Since this is such a vast problem area, there have been more than one solution that emerged in the blockchain space.  One of them is a favorite of ours, VeChain.  However, this article is not about VeChain, it is about TE-Food that is specifically targeting to track and trace food from “farm to table”.

  • Product
  • Team
  • Business Partnerships
  • Marketcap and token economics
  • Competition and caveat
  1. Product: TE Food is a farm-to-table food trace-ability solution.  “TE-FOOD covers all logistics and food quality activities and data management of the supply chain. It provides cost effective software and identification tools to make livestock and fresh food supply information transparent.”

There are many blockchain products in the supply chain management including Wabi, Waltconchain, Ambrosus, Modum, etc.

While most of these projects have great teams and/or hype in the market, their products are still waiting to be developed, launched or adopted.  In other words, most of these projects entered into ICOs to raise capital to ‘start’ the blockchain technology solution.

TE Food is different.  They got into ICO to ‘expand’ their existing business model that has been in operation since 2015 (parent company was established in 1996).

Key term is here is ‘expand’.  TE Food has already showed its mettle in offering a solution in the supply chain ecosystem.  They are moving their current working model onto blockchain to offer even more immutability to their tracing and tracking solution.

Moving onto a blockchain platform will also change TE Food’s existing centralized business model into a decentralized one, in addition, they are going to add features such as food safety sensor tools, animal face recognition (!) and fresh food marketplace to the existing business model.  Below chart shows a quick snapshot of what ICO proceeds will help TE Food with.

TE Food already has B2B and B2C mobile apps and have trained over 10,000 people in a single year to use the app at various source points.  While most of the existing platforms are targeting business or consumers or both, it aims to bring farmers, supply chain vendors, government authorities and consumers onto single platform.

In addition, it is looking to integrate and share the deep learning data back with Farmers, producers, vendors and other entities.  One such step is already initiated where it is going to share the Deep Analysis data back with Farmers so that they can increase their production by 20% without any additional cost.

TE Food aims to bring farmers, supply chain vendors, government authorities and consumers onto single platform.

Advantages of this Deep Analysis system are listed below.

Many existing blockchain platforms that are aiming supply chain industry are heavily focused on helping businesses and/or vendors.  There are few (like Wabi) that are focusing on consumers.  However, it is an end to end solution that is targeting everyone in the farm-to-table ecosystem, including consumers.  Consumers can get extensive data from the app, listed below:

This data is absolutely essential but currently inaccessible for anyone who cares about their and their loved ones health.  TE Food promises to make this information accessible by simply scanning a QR code from within App.

 

 

This data is absolutely essential but currently inaccessible for anyone who cares about their and their loved ones health.

Here is a quick snapshot of TE Food compared to other existing blockchains in the supply chain space.

te food

2.Team: What TE food has on its road map and the competition that it has to deal with takes a lot of expertise.

 The founding company behind it, Erba 96 Ltd has previous experience in various projects, including:

  • Utility cheque payment solution
  • Airport fast track payment solution
  • Road Tolling solution
  • Loyalty Card solution

TE Food’s team includes two CEOs, Dr. Trung Dao Ha and Erik Arokszallasi.  Both have extensive business experience in founding and running successful companies.  They have a combined experience of over 4 decades.

They have food safety experts, blockchain experts and infrastructure experts on their team.

TE Food expert

te food

te food

3.Business and partnerships: Each of the listed partnerships of TE Food serve a specific purpose.

It already has an existing business relationship with 6000 companies.  They have trained over 10,000 individuals in a single year to help greater adoption and have been serving over 34 million consumers.  Their site shows multiple existing partnerships and their Medium blog is constantly updated with more updated partnerships (look at sources section at the end).

  • Nongshim Data System will be a sales and implementation partner of TE-FOOD.
  • TE-Food’s technology will be utilized on two pilot projects in June 2018 by Halal Trails, a UK based company.
  • GS1: “GS1 is a not-for-profit organisation operating worldwide, that develops and maintains global standards for business communication. GS1 barcodes are scanned more than six billion times every day”
  • Telenorma: Telenorma AG is a trusted solution provider in the German retail sector. Telenorma will implement TE-FOOD’s traceability system in Germany for retail companies.
  • Sankofa: Agricultural consulting and project management firm Sankofa Ltd. represents TE-FOOD’s livestock and fresh food traceability solution in the French-speaking countries of West Africa.
  • Unisto: a Switzerland based international manufacturer of security seals. Unisto Malaysia manufactures TE-FOOD’s high quality seals.
  • Zalo.me is a free messaging mobile application with 70 million users. TE-FOOD’s QR codes can be read by the Zalo app to view the food product’s history.
  • Laurel is the largest retail technology solution provider in Hungary. They are a sales and implementation partner of TE-FOOD.

4. Marketcap and Token Economics: Thanks to the recent bear market, along with drop in ETH price, TE Food token has been selling at around 60% of ICO price, since price of TE was pegged in USD during ICO. This has put TE Food’s market cap below the ICO hard cap.

Token will have two economy models.

One model requires a valid license which is made up of certain number of tokens which varies by country.  These licenses are then divided into sub-licenses.  What this means is, for every one utilizing TE Food solution (which includes Farmers to consumers and everyone in between in the supply chain ecosystem) will need to have TE food tokens.

When the TE Food blockchain is fully implemented, their existing 6000 Companies and 34 million consumer base itself should contribute to a natural demand for TE Food tokens.

  • 6000 Companies and future onboarding
  • 34 Million existing consumer base and future additions
  • Farmers
  • Livestock agents
  • Retailers
  • Wholesale distributors

All of these players will have to get hands on a certain amount of TE Food tokens.  Companies, at the forefront, will need to gain access to a bigger share of tokens to utilize the tracking services.

Second model of the token will be TFS which is their transaction token model.  This is in concept and more details will be made available.

From a pure price perspective, TE Food is trading at 2.6 to 2.8 cents today, which is about 50% of the ICO price (ICO price was 5 cents). Another factor that adds to TE Food’s call is that it is not on any major exchange yet.

If TE Food were to hit 200th rank on Coinmarketcap at this bear market levels, it will need to grow 4 times. If it reaches top 100 rank, it will have multiplied 12 times.  Remember, these are projections at the current bear market.

TE Food has already established in Vietnam and has started business in Italy and Africa. We expect to see a lot more expansion in the coming years and a natural increase in demand for its tokens.

Another factor that adds to TE Food’s call is that it is not on any major exchange yet.

5. Competition and Caveat: While there is no other project (not taking VeChain into consideration) with a farm-to-table end to end solution and a working product on the market, there are many existing players in the blockchain supply chain space.

While competition is fierce, if TE Food manages to convert its existing clientele and user base to make use of TE Food tokens, then that will be a fabulous start. Adding more clientele in the new expanded locations will help as well.

A turn off for most newbies in the crypto space is patience and for TE Food to show its full potential will need longer than 6 months or even a year (look at the HODL period).  This might turn away the newbies that dream of riding crypto lambos overnight.  For more veteran and learned crypto folks, TE Food showcases all the traits of a long-term HODL project.

Project: TE-Food (te-food.com)

Symbol: TFD (please always double check symbol)

Price Today: 2.5 cents

Trading on: IDEX

Buy price: visit QRIP page to view

HODL period: visit QRIP page to view

HODL gain anticipated: visit QRIP page to view

Whitepaper: https://ico.tefoodint.com/te-food-white-paper.pdf

Sources:

https://ico.tefoodint.com/te-food-white-paper.pdf

https://www.youtube.com/watch?v=qot-VCUgpng

https://medium.com/te-food

https://ico.tefoodint.com/solution.html

https://www.youtube.com/watch?v=3whNlGtQYI0

Thank you for reading the article.
Subscriber-Banner-smallIMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

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About the author

RK Reddy holds two Masters degrees, one in Accounting and another in Business Administration with over 15 years of experience in the financial services industry.

RK Reddy is an ardent fan of Blockchain and Cryptocurrencies. You can see the excitement about this new blockchain technology in every article on Cryptotapas.com. Sometimes this excitement leads to an overly optimistic view. Guilty as charged. RK Reddy says what may seem like an ‘overly optimistic expectation’ today may become an everyday norm in 5-10 years; look at the history of cars or airplanes, Blockchain and Cryptocurrencies belong to a similar frame of reference.”  Of course, that is just his opinion.

CryptoSpace

This is What Non-Bitcoiners Think About Bitcoin

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Bitcoin believers

There are two types of people in this world: Bitcoiners and non-bitcoiners.

Many non-bitcoiners stay that way because they have come to associate Bitcoin with certain elements of the society. 

Here is a short list of things non-bitcoiners associate Bitcoin with and whether these allegations have any validity.

Money laundering

moneyBitcoin is criticised to be used for many illegal activities including money laundering. 

Can Bitcoin be used for money laundering?  Sure.

So can gold or cash or you name it.  

Anything of value can be used for money laundering, however, only one of them can be actually tracked forever.

To many people’s surprise, Bitcoin is the only asset among many that is the worst medium to use for money laundering.

Terrorist funding

Haters say that bitcoin is used by terrorist groups to avoid being tracked. 

Fools be those who think Bitcoin is completely anonymous.  

In fact, physical cash is much more anonymous than any medium of exchange out there.

Drugs

Bitcoin was (is) used to buy and sell drugs. 

Bitcoin did not create a single drug and it did not create commerce for drugs either. The drugs commerce has been in existence before bitcoin.  What bitcoin did was create this false illusion that it is anonymous money.

To the dismay of many those who thought they were being smart have etched their dealings on the blockchain for anyone with the right tools to find out.

Dark web

darkwebYes, the dark web has made Bitcoin popular.

Silk Road, illegal weapons, transferring money without going through banks or other legal entities, all of these have colored Bitcoin as Dark Web money.

However, once people understood the myriad of applications that bitcoin and blockchain can help with, the dark web allegations have faded.

We would scorn anyone suggesting that the internet should be banned because there is illegal stuff going on (dark web lives on the internet too).

However, these very people would call for a ban on Bitcoin without understanding that Bitcoin is the next phase of the internet’s evolution.

Gambling

Gambling cryptocurrencyGamblers love to squander their wealth. And those who dabble with Bitcoin with their life savings are no better than gamblers.

This has some truth because there are no guarantees that Bitcoin will succeed (although one could argue that it has already succeeded in bringing blockchain to the consciousness of mainstream).

As such, those putting money in bitcoin understand that they could lose their investment.

While many invest in bitcoin in the hopes of getting rich, there are few who invest in it to own a piece of technology and be part of the history in the making. 

In that sense, Bitcoin is way different than gambling.

Is Bitcoin the panacea?

While Bitcoin is far better than the existing fiat system, we do not think Bitcoin as the panacea.

We believe that Bitcoin will build bridges and connect the world which was deprived of access to financial inclusion and in doing so it will become part of the world financial ecosystem.

It will not replace the fiat system, rather, it will make it more accessible.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Factors adding gasoline to the Bitcoin shortage fire

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Bitcoin shortage

Bitcoin’s creation and its subsequent proliferation may have all been planned for a long time, this is the outcry of many conspiracy theorists.  

These conspiracy theorists also believe that whistle blowers are mere plants to help prepare the world for what’s coming.

One of their theories is that the end of physical fiat was planned a long time ago, however, the transition of physical fiat to digital fiat needed a catalyst to drive the conversation.

Either by meticulous design or by sheer coincidence – Bitcoin came to life in 2009.

We personally think that Bitcoin was designed by liberals who believed a ‘fair world’ was possible.

The invincibility of this groundbreaking technology meant that the forces that were working on doing away with physical fiat had a runway built for them.

So, the rhetoric has now changed from ‘Bitcoin is for anti-social elements’ to ‘Bitcoin is the currency for the visionaries’.

Why is that backdrop of conspiracies and layout necessary?

Because, irrespective of the underlying reasons the rhetoric has changed and it has changed for good.  This means, as the physical fiat follows the path of extinction, Bitcoin – the king of digital currency, will see a lot of demand.

We were warned a long time back that there will not be enough bitcoin in the world for everyone to buy.

Some studies say that owning .28 Bitcoin will guarantee you a seat in the top 1% bitcoin holders in the world while others say you need 5 bitcoins to claim the top 1% in the Bitcoin rich list.

Point is, even if you have all the fiat in the world, there is a limit on how much bitcoin you can buy.

When people who want to buy bitcoin are ready to pay any price while those who own the fractions of it are unwilling to sell it – the prices have only one way to go: UP.

 

The strategic moves into Bitcoin from MicroStrategy, Square, GrayScale, Fidelity and a host of billionaires who actually know something about money and finance is a tell-tell sign for the rest of the world.

Whether you want to get into Bitcoin to own a piece of technology itself, or to hedge against the inflation, or simply to use it as ‘digital gold’ that you can take with you, any and all of these reasons are good enough to look into Bitcoin.

If you had told us last year that a public limited company will convert its cash reserves into Bitcoin we would have laughed at you, but that is precisely what has happened.

As a result of converting fiat reserves to Bitcoin, the stock price of MicroStrategy saw an immediate boost which was as big as the reserve itself.

Do you think other public companies will stay on the sidelines for long?

When a legend like Paul Tudor Jones says ‘Bitcoin is the fast horse’ to bet on against inflation and he himself invests 2% of his portfolio, how long will it take for other fund managers to take note?

Add to this the demand from retail investors in the form of millennials, who are also set to inherit some $60 Trillion dollars from the baby boomer generation in the coming decade.

Conclusion

We personally think the goldilocks moment for Bitcoin has arrived.  It has the perfect combination of ‘scarce supply’ and ‘growing demand’.  It also has the added elements of adoption and ‘nascentness’ working in its favor.

These factors alone make Bitcoin one of the best investment assets of the century, in our opinion. 

We have been investing in Bitcoin using dollar cost averaging.  We don’t go selling our home or taking on insane loans to invest in bitcoin, rather, we invest $100 here and $100 there.

Before you invest your money into bitcoin or cryptocurrencies, spend some time understanding what Bitcoin is and why it is important in taking the world from the centuries old fiat system to a brand new global currency system.

In our personal view, Bitcoin will become one of the best assets to hold by the next halving.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Why this bull run has no precedence? ONE key metric to rule them all

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bull run 2020

Everyone is singing the praises for the bulls’ arrival in the crypto space.

Some say that 2020 will mark the biggest bull run in cryptos’, albeit short, history.  

We are already in October so we doubt any fireworks will take place now since there is a lot of uncertainty about the US elections.

Add the uncertainty around the stimulus bills, unemployment trends, soon to be lifted forbearances and the list goes on.

2020 still has another 2.5 months to go but most of these uncertainties will take a while to show their true impact.

For instance, what will a Biden presidency mean for the economy and cryptos?  

How many people will be forced to sell their homes once the forbearance’s are lifted?

What happens if the next stimulus bill does not pass through?

When will the vaccine become available?

These are some of the unique situations that we have no precedence for. Do not let anyone convince you that we know what’s going to unfold, because no one does.

Yes, everyone has theories, like the ones we are presenting here, but that is all they are: theories.

The BIGGEST metric that crypto community is not considering

We are no economists nor can we run any fancy charts to impress a point on you.  

We are just good observers and have common sense to deduce a few things based on data.  

For instance, between 2007 and 2010 consumer spending dropped by an overall .2% and we know what that meant for the economy.

Personal consumption expenditure

In 2020, people have literally cut down on their spending.  Some of it is forced due to the restrictions imposed by external forces and most of it is self imposed.

I am sure the spending on marijuana, liquor and food have gone up but what about other spending?

2020 also saw a spike in the savings balances.  

Economy is not stimulated by people hoarding their money. People need to exchange value for the economy to thrive.

What happens to the spending behaviors when the true stats around evictions, lost jobs (that are not coming back) and small businesses that are shutting down permanently are out?

Our guess is that people are going to be weary of spending money in the short to medium term. If we were forced to pick a timeline – we would say about 12-16 months (assuming we get a vaccine in Q1 2021).

When is the next bull run? 

Based on what we have seen in 2007 through 2010 and observing the consumer spending habits in recent times, we think that Bitcoin (and cryptos) will not find their true peak until next halving.

We know this is not what you came to hear.  

If the bull run in your mind is hitting the 2017 highs then we do not think you have to wait until the next bull run.

If the bull run means a $100,000 bitcoin then we stand by our opinion on when that is going to be.

A case for bull run

In spite of what is going on in the street, following factors are acting as strong bull market signals for the crypto space. 

Hype: Crypto space (specifically Bitcoin) has been gathering a lot of steam in terms of brand awareness and mass penetration.  This is great for the long game.

Adoption: More than ever, private and public enterprises are becoming serious about bitcoin and underlying blockchain technology.  What is good for bitcoin is good for blockchain and vice-versa.  MicroStrategy investment, Paul Tudor Jones getting involved with bitcoin are some examples.

Tech explosion: Crypto space is home to some of the brilliant minds in the tech space. Add Big Techs interest in the crypto space and you have a perfect recipe for monumental shifts in crypto perception. Tech giants like Microsoft, Google, Twitter, Facebook are all getting involved with blockchain and cryptocurrencies in some shape or form.

Retail demand: More and more retail investors are looking for alternative investments and they are waiting on the sidelines to get involved with Bitcoin.  As soon as companies like Fidelity or other brands offer crypto investment through retirement plans – there would be a massive influx into this space.

DeFi: DeFi in its current state might be infested with shittty projects but as a concept and technological shift to turn the current banking system upside down – it holds great potential. Any demand to DeFi brings more demand to bitcoin, ethereum and blockchain in general.

Conclusion

The debate around when is the next bull run will hinge on how the market recovers from this pandemic. How soon will we get the vaccine and how many of the lost small businesses and jobs are we going to resurrect?

From a macro perspective, Bitcoin and few select cryptocurrencies will continue their upward trajectory so if you looked back to 2020 five years from now, you might think bitcoin was on sale.  

Question is: how many people have that kind of patience?

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

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