Today I propose to consider the blockchain, which has big number of subscribers in Telegram - 43,860 members at the moment when I joined the channel. For example, the official Ethereum Russian community has 26.5 thousand subscribers. Whatever it was, the interest in ZetoChain can be explained, because it's about grocery retail - one of the most profitable and at the same time risky types of industry.
The idea of ZetoChain
In the world there are many, if not to say - millions of companies that are engaged in the supply of foods. These are restaurants, supermarkets and hotels. Also the mediators between them. Everything related to food is risky because low-quality products are dangerous to health and can scare off buyers. In Ireland, where this blockchain came from, it was estimated that losses from improper storage and fraud in the retail food industry annually reach up to $ 15 billion. Is it possible to involve a decentralized ecosystem into control the quality of products and thereby to ensure a transparent income for all market participants? ZetoChain says "yes, it is!"
How does it work?
ZetoChain App is designed for use by retailers, manufacturers and those who will eat their products. The IT-system of blockchain is based on the Internet of Things (IoT) technology, which deals with a comprehensive analysis of the supply and storage of products at all stages. In a word: starting with the conveyor, not to mention packing and finishing with serving the meal on the table in the restaurant. All analysis data are entered in the blockchain, and the final supplier or consumer can learn about them. The fish was thawed because they turned off the light in the freezers? This will immediately become known, there will be no more deception.
In other words, having smart contracts with each other, network members together monitor the supply of products. IoT sensors will be installed at the key stages and will monitor changes in temperature and other factors in storage conditions. And also they will send to the open network the information about expiration dates, delivery date and other useful information.
3 principles of ZetoChain
- Transparency of the "history" of food. Some products get to us on the table from overseas, having travelled through several countries. In the application, you can track their route as if you tore an apple in your own garden and brought it to your plate.
- Saving. If the lot is delayed on the way, or the expiration date expires during the transportation, the user will find out about it immediately and will not lose money.
- Quality monitoring. One application will help to save a lot, because you do not need to hire experts to control the quality of the entire product route.
Who is this technology intended for?
It is for you, if you like to go to restaurants and cafes. Or if you own your own restaurant business. Or if you produce. Here are 5 categories of participants in ZetoChain:
- Manufacturers of food products - farmers, factories, combines.
- Carriers, owners of containers, barges, wagons and aircrafts;
- Wholesale sellers and owners of warehouses;
- Retail sellers, restaurateurs and owners of fast food;
- Their customers.
If to compare, it is the same as when you tracking the parcel from Amazon on it’s way.
ICO ZetoChain
At the time of my acquaintance with this blockchain before the start of ICO Sale there were 32 days left. In short, it is scheduled to launch on July 31 with the goal to sell 44% of ZETO tokens, and before that, Token Sale will run from 9th till 31st of July. Pre-Sale began on April 30 and lasted a month. During this time, about 12% of tokens were sold and 40, 800, 000 funds were collected, another 7.5% ZETO was distributed among the early investors (24.7 million of funds). 2.5% was allocated to the Bounty program of rewards. And the rest 34% will be put in reserve for the future development of the platform.
The current price of tokens is 1 USD = 10 ZETO
Total Amount for Purchase 340, 000, 000 ZETO
ICO Sale 150, 000, 000 ZETO
Proceeds Usage:
What can we expect after ICO?
WhitePaper and ZetoChain's official website are filled with forecasts and market estimates, according to the FactSheet. If I’m not mistaken, the applications will be further adapt to technologies and market’s movement. Right away the ZetoChain project is supported by IBM, WalMart and other giants. In November 2018, for retailers and customer users of the App there will be released an API, and then in February, 2019 the developers plan to open the source for all the interested people.
Summarizing
Already, the ZetoChain platform is of interest to traders, restaurant owners, and even to us, who go to the market and buy products. It’s true, the involvement of producers will take some time. But investors are significantly interested in this project thanks to the detailed and open-published forecasts along with the steadily growing value of tokens. I'm in!
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I like that I can trace my food. Will it have QR code or something that I can check at the store while shopping?
Yes, you will have application for smartphone where you can check all necessary information about the product.
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