Here comes another crypto currency emerging to the crypto space focusing on the food ecosystem called CIBUS. CIBUS realized that small scale producers all over the world need a place for further development and product launch to the international market which is hitherto seems out of bound for them.
CIBUS hence offers a plethora of services on its platform facilitated by CIBUS token and supported by CIBUS community spread worldwide so that above bottlenecks can easily be unshackled and true business potential can be realised by its users.
Cibus is a blockchain based ecosystem on food and health supplements ensure the origin, quality and fulfilment to transparency.
CIBUS vision is to bring food and dietary supplements manufacturers, producers, sellers or traders under one functional, interactive, and mutually profitable platform based on blockchain technology and enabling a transparency via trustworthy data sitting on distributed ledger which can be freely accessed by all interested parties. Both the business owners and consumers can enjoy best possible transparency, authenticity, and reliability about the food products they are interested in. This is great opportunity also for young entrepreneurs to take this chance to be in the food ecosystem of CIBUS that might provide great offers and services for them. CIBUS crypto currency enables trust less transaction within the platform between all participants. It is the underlying currency for all transactions, mode of payment for transaction fees, escrow services, and advertising and will provide commercial analytics and transactional intelligence. All transacting parties will be required to buy and pay using CIBUS tokens. One point that sets CIBUS apart from other almost similar projects is that CIBUS is going to launch hardware as well: best quality advanced and intuitive sensors that can continually monitor and steadily send data to the blockchain as an item transits from manufacturer to its end user. CIBUS is on the verge of creating a potential market. Most important factor in this system workflow is complete transparency and conviction. The main focus will be to develop an ecosystem that address market issues, can bring down costs, and can boost efficiencies. All these components will help CIBUS to it be the most favorite for all stakeholders integrated in the supply chain from the producers to traders to consumers. CIBUS is also creating a blockchain-centric procedure that has the flexibility to be used at different supply chain settings. CIBUS protocol is Ethereum based and it can write smart contracts, which is expected to add heaps of efficiencies, along with transparency and responsibility to the whole chain. CIBUS is going to launch a new cryptocurrency token CIBUS token, which will be used on the CUBUS Platform only in a way that remains associated with each item within the chain. Amidst other things it holds the data as the food item moves ahead toward its consumers, and it also offers incentives for the stakeholders. CIBUS token is expected to be the central part of the equation. CIBUS seeks to facilitate a locked and sovereign supply chain, develop an improved distribution procedure and permit consumers to effortlessly see where their purchased products come from and the ingredients in it.
The mission at CIBUS is project is:
To line up and transparent the global food supply chain and related market so that the interest and trust of consumers and farmers can be maintained at its best. At CIBUS our aim is to reward the farmers who put their labour in producing food and of course the consumers who has all the right to have quality food on their table.
Thus eventually, all stakeholders can yield profit from the elevated whole value proposition for verifiably quality food. Moreover retailers sourcing quality food products can trace and display the origins and superiority of their food, which consumer can check on their own. Governments will get to guarantee conformity by the food industry to standard and values by checking records and methods documented on the blockchain.
Apart from that Smart contracts can establish commercial relationships between different parties as well as can control/reduce risks and trading disputes, permitting suppliers and buyers to enter MOU without suffering from stress about the status or solvency of their counterparty.
Here is one of the problems CIBUS would like to solve in the Industry:
Lack of reliability, inadequate information and non-transparency about food ingredients and, its origin is the most vital problem of present food industry, and traceability is considered as the most appropriate approach to bring ultimate consistency and transparency.
How are they planning to solve this? By using the Blockchain technology.
Here’s a brief explanation about Blockchain
Blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp and transaction data. By design, a blockchain is inherently resistant to modification of the data. It is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. For use as a distributed ledger, a blockchain is typically managed by a P2P network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority. Credits to https://en.wikipedia.org/wiki/Blockchain
CIBUS believes that Transparency is the most demanding aspect of customers that has been increased in recent years. The transparency has the ability to assess the performance of a supply chain and their by increase the confidence of concerned players and of course improve the customers trust. Considering the characteristics of Blockchain technology, it is the best solution to achieve transparency by simply disclosing the information to others. The strengths in the transparency of the blockchain lies in the trustworthiness as a transaction cannot be changed or manipulated afterwards. The trustworthiness cannot be achieved by a centralized system, since it is impossible for an outsider to assess the trustworthiness of the disclosed information. Therefore, it is advantageous to use a blockchain technology over a centralized system in terms of trustworthiness.
CIBUS blockchain production and distribution records are maintained and cannot be falsified as claimed by the CIBUS developers. Clients can rapidly trace food products back to their source, to decide quick removal in case of food recall or fraud detection while availing a high degree of transparency.
CIBUS will work as a multi-functional platform:
● Facilitates accessing traceability information by end consumer using CIBUS-Trace functionality: adding complete transparency spanning farm to fork — complete value chain
● Creates interactive global social media platform for food consumers, food manufacturers, trader, food bloggers, food customer’s and all other food enthusiasts to enable their scope of interaction with other food manufacturers, traders, experts as well as with a globally expanded health and quality conscious likeminded community
● Provides an e-commerce platform that empowers both B2C and B2B trade modality in food and dietary supplements related merchandise using CIBUS-Retail and CIBUS-Trade sub-platforms, respectively
● Facilitates direct targeted advertising by Manufacturers/producers/traders by providing tailored user preference and relevant profile demographic data, which will be the basis of CIBUS-AD
● CIBUS token will be the currency of trade across all the platforms; the aim is to facilitate open and fair trade to reduce uncertainties in supply-chain reliability for the end consumer by developing a holistic, sustainable food centric platform.
CIBUS PHASE 1
The Business model of phase 1 of CIBUS platform will be centred on 4 modules.
CIBUS Trace: Traceability is the ability to track any food and dietary supplement through all stages of production, processing and distribution. Traceability also mean that movements can be traced backwards and forward steps at any point in the supply, which is rightly described as farm to fork traceability function. Good traceability systems will help to minimize the production and distribution of unsafe or poor quality products, thereby minimizing the potential for bad publicity, liability, and costly product recalls. The current food labelling system cannot assure the authenticity, safety and quality of food: CIBUS trace facility will put 100% emphasis of offering instant authentication on food safety, reliability, and best quality.
CIBUS Social: CIBUS social is an interactive social platform connecting with Food sellers, other users, will allow multi-media uploads, and will soon become a global forum for people with special dietary requirements, user reviews, recipe sharing, user reviews etc. It is a food focused community which will be incentivized (with CIBUS tokens) to create a PULL MODEL to encourage Food producers or sellers to share all its product traceability related information on blockchain. It will be mutually beneficial for both the ends — consumers will get to know more about their food products and food businesses owners will get the consumer’s feedback directly. Visualize a Facebook for food.
CIBUS Retail It is a virtual Business to Consumer (B2C) marketplace based on blockchain technology and cryptocurrency as transaction medium. Consumers will get to buy food products and provide their feedback based on their experience, just like Amazon etc. Buyers can compare food products and dietary supplements based on their traceability data sitting on blockchain coming via CIBUS Trace module. Consumers as well as business operators will have to transact using CIBUS token, which will drive the popularity of CIBUS token over time.
CIBUS Trade: 7 CIBUS Trade is meant for bulk purchase of traders for their trading from another trader or manufacturers. All transactions will be done via CIBUS token; however, just to create the business momentum initially USD transactions will be entertained. Incorruptible vendor rating system, smart contracts, and most relevant search results based on user profile and past activity, one click purchase advice strategy, escrow services, product tracking facility of CIBUS Trade -will facilitate business to business trade by enabling seamless sales experience. Every transaction on CIBUS will attract a micro-fee based on the transaction size.
In Phase 2, CIBUS platform will be enriched by adding capabilities of the following 4 modules:
CIBUS Logistics It will deal with logistics companies in all the way like, listing or seeking quotes on behalf of customers to pick up business. CIBUS may consider at a later date to open its own Logistics centre like Fulfilment by Amazon (FBA) model — to deliver products to its customers from its central warehouse.
CIBUS AD: CIBUS AD is a direct advertising and marketing platform including data analytics and artificial intelligence. Reduce intermediaries, decentralized advertising platform. It facilitates direct marketing. Manufacturers, traders, or allied business operators, if list their products on the website, will have the option to purchase analytics-like data on user demographics that can be used to create targeted marketing and promotional campaigns. The advertisement can either be basic or advanced and the fee charged by CIBUS will vary depending on the customization.
CIBUS Affiliate Affiliate marketing is a type of performance-based marketing in which a business rewards affiliates for each visitor or customer brought in by the affiliate’s own marketing efforts. CIBUS Affiliate program will provide incentivized reward model for the Marketers for their effort in promoting the sale process of CIBUS Retail and CIBUS Trade modules via promoting their affiliate links and advertising media.
CIBUS Escrow CIBUS escrow is a financial intermediary arrangement where CIBUS will hold and release payments to buyers and sellers involved in a given transaction. It helps in processing transactions more protected and secured by keeping the payment in a secure escrow account. The payment is only released when all of the terms of an agreement are met as overseen by the CIBUS escrow unit. CIBUS will work as an intermediary between buyers and sellers and all transactions will be facilitated by CIBUS Token. Example will be Alibaba which is currently providing escrow service between its Sellers and Buyer on its platform.
To Know more about the Phase 2 you can visit this link:
https://www.cibus.world/documents/
Conclusion:
CIBUS ecosystem will succedd because of the following reasons. Producers can upload food safety traceability related data in shared ledger. Consumers will have complete leverage to opt for checking food safety related data. Producers can check the algorithm of data over a period of time: they can check how many consumers are willing to pull data and what type of data are being pulled. CIBUS platform will be flexible for food producers: One can upload data on personal discretion. CIBUS social will work as a passive puller of data based on consumer discretion.
To know more about CIBUS Food Ecosystem kindly visit the following links:
https://twitter.com/cibusworld
https://vimeo.com/user78473782
https://www.linkedin.com/company/cibus-world/
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https://tokensale.cibus.world/signup.php?ref=cocojam0610
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