By HM - MN.Investments content producer, Midas.Investments
Midas announces the listing of Food Chain (FDC) to the Midas platform as an Instant Share. Invest today to receive instant rewards.
What is Food Chain and what does it offer?
Today we are introducing to you a project related to the supply and logistics side of a business. A few common use cases of blockchain you have seen so far are money exchange and store of value - e.g., Bitcoin and its forks over the years. It is the direct result of the encrypted and distributed nature of transaction recording built in the blockchain protocol. Food Chain is a project looking to solve food quality and tracking issues with blockchain technology.
Believe it or not, you can actually earn a doctorate degree by dedicating a few years in your life to study supply chain management. The subject is vast, and there are eternal debates about the best method to do things. Specifically for food supply, consumers as well as producers have vested interest to know exactly where and how their foods get from a farm to their dinner plates. The issue is complicated because it involves so many checkpoints in the process. As a result, whenever a mistake happens, it is hard to trace back in the chain how it has occurred.
Food Chain promises to simplify the food supply process by applying the verifiable and immutable properties of blockchain technology. According to its whitepaper, the cost and time spent in searching for quality foods can be reduced in comparison to traditional means. In addition, Food Chain will implement several safety measures for consumers.
Food Chain will collect food data including prices, locations, safety information and expert opinions to calculate the “harm index” for each product. This metrics will be displayed on the mobile wallet along with other payment functionalities. The goal is to help you decide whether a particular food item you want to buy at a grocery store is safe or not. In case you need more advice, the platform can connect you to health professionals for a fee payable in Food Chain coins.
What about farmers, suppliers or manufacturers? Food Chain allows them to view statistics about each product in a convenient manner. Information about the demand for any food item can be accessible and helpful to adjust their production and supply logistics accordingly.
Being a blockchain project, Food Chain coins will be required as payment for some or all of the services on the platform. It is unclear at this point about the exact pricing structure but the team is expected to release more details as the platform matures.
Team is anonymous but reachable on the project's social media channels.
Where can I purchase FDC?
Total supply: 350,000,000
Presale: 14 nodes were offered for sale at a price of 0.75 BTC each (completed).
Consensus algorithm: MN/proof-of-stake
Masternode collateral: 5000
Block time: 60 seconds
Block reward: variable rewards depending on the block height. MN/PoS split is 75/25
Can I get more information about FDC?
Do you want to become a Midas partner?
Midas is looking for great projects to join us on our journey. Get in contact with the team via Discord for more details, and visit midas.investments for information on our project, team and road map.