What is TE-FOOD (TONE)?
TE-FOOD is a food traceability solution built with blockchain technology. The platform aims to improve food safety, support fair trade, build trust between players in the food supply chain, and fight off corruption within the ecosystem. They are focused on bringing these solutions to emerging markets in a transparent manner.
Being a world-renowned farm-to-table solution, it tracks livestock and fresh farm products throughout the whole supply chain. It also provides tools to consumers, supply chain companies, and authorities to gain more insight into food usage and quality.
At the time of writing this, the platform serves over 6000 customers, tracking thousands of pigs, chickens, eggs, and cattle daily.
TE-FOOD offers physical identification tools, mobile and web-based solutions, and more in a cheap and efficient manner. Using TONE, the platform's native token, it charges for tools, daily transactions, and more. You can see the recent TONE price indicated on the TE-FOOD price chart above.
TE-FOOD's mission is to make the food industry more transparent, democratize access to food-related information, enable the use of blockchain technology within the agriculture and food supply chain, and reduce the scale as well as the effect of food-related epidemics in emerging countries.
Moving forward, they intend to help small farms become more competitive and educate more people by giving rewards to customers who engage in environmentally friendly behaviors.
Use Cases of TONE Tokens
To make use of TE-FOOD’s blockchain tracing solutions, all supply chain participants are required to pay for their transactions with TONE coins.
As a user, you can be paid in TONE crypto tokens for the information you provide on the platform. This information includes vaccination dates of livestock, use of antibiotics, harvesting dates, and storage details. This is very important in quality control and tracking the quality standards used by farms in the ecosystem. In addition, this process ensures transparency.
Moreover, as a user, you also get rewarded in TONE tokens for making use of the application. Activities such as viewing food histories, reading QR codes, and shopping help increase the full tracking capacity of the ecosystem. Token holders can rate supply chain companies on the ecosystem so that the system can maintain a supply chain companies scoring system.
In the future, TE-FOOD plans to have a marketplace within the ecosystem. This will be a virtual meeting point for buyers and sellers of different agricultural produce. The TONE token will power this marketplace.
Remember that on the live TONE price chart displayed above, you can see the current or the previous TE-FOOD price.
Who Founded TE-FOOD?
TE-FOOD was founded by Trung Dao Ha and Eric Arokzallasi. Both men have experience in management, IT, marketing, and sales. The team also has Marton Ven and Gergely Köves as key members of the team.
To minimize TONE token inflation and maintain TE-FOOD price stability, 44% of the 1 billion tokens available as maximum supply has been locked away in the general reserve. 51% was released to the public for sale, and 5% has been reserved for the marketing pool. After the public sale, unsold TONE tokens were returned to the general reserve.
Revenue received from token sales is used for the growth of the ecosystem. 60% of the revenue received has been allocated for market expansion while 25% – for research and development.