TE-FOOD Price (TONE)

TE-FOOD (TONE) is a blockchain-based solution that strives to bring transparency to the food industry through farm-to-table food traceability. It aims to enhance consumer trust and brand exposure, provide deeper supply chain insights, ensure compliance with export regulations, protect brands from counterfeiting, and facilitate quicker product recalls. TE-FOOD provides a suite of components for the complete supply chain to identify tracked items and batches, capture data, store it on blockchain, process the data, and present it to consumers. The TE-FOOD ecosystem operates using TFD, an ERC20 token on the Ethereum platform, which represents a tokenized software license.

TE-FOOD operates on a public permissioned blockchain known as the FoodChain. This blockchain allows both supply chain participants and the consumer community to maintain masternodes, decentralizing traceability information. The TE-FOOD ecosystem uses TFD licence tokens, which all individuals and organizations must possess in a certain number to perform their activities. The system captures data about tracked items and batches, stores it on the blockchain, processes the data, and then presents it to consumers, providing a transparent view of the food supply chain.

TE-FOOD aims to provide unique product information that consumers appreciate and recognize. It seeks to improve operational efficiency by analyzing and optimizing supply chain processes. TE-FOOD also intends to establish direct communication with consumers, collecting valuable data about them. It can provide proofs of quality sustainability claims, helping to position premium products. Additionally, TE-FOOD can help businesses become compliant with import regulations of target countries, unlocking export possibilities. It also aims to automate product recalls, narrowing down the scope to the affected batches.

TE-FOOD was launched in 2016 with the goal of enhancing transparency in the food industry. Since its inception, it has reportedly served over 6,000 business customers and performs 400,000 business operations each day. The team reports that food products tracked with TE-FOOD are available to a large number of consumers around the world. Over the years, TE-FOOD has provided tailor-made traceability solutions for several supply chains, working with a range of companies from smallholder farms to global corporations.