Food retail is profitable if risky industry: the demand for food is growing, new restaurants, supermarkets, and marketplaces open. According to the data of Zeto company (Ireland), because of incorrect storage and fraud, the global food industry lose from 10 to 15 billion dollars every year. Are modern technologies able to bring customers fresh food and provide market members with safety?
Picture 1. ZetoChain app traces the history of a product by scanning the barcode
The IT-company Zeto offers a complex system for the secure storage, the quick transportation and successful purchase of goods. In the basis of the platform, it is the IoT technology (Internet of Things, sensor system) analyzing external conditions of production, packaging, and delivery of food from the factory to the customer's table. The data are recorded in the Blockchain: if the meat was thawed because of voltage drop, a producer, a retailer and a customer would get to know about it.
What is ZetoChain?
The main idea of developers is constant tracking of production, packaging, transportation and selling procedures of food. The ZetoChain app is designed for producers, retailers, and consumers. The adaptive platform is suitable for supply chain in the restaurant business, retail, manufacturing, packaging and food delivery.
Picture 2. ZetoChain traces the transportation procedure, recording the information in the blockchain
ZetoChain is based on three principles:
● Transparency and trust. Retailers and customers can trace the history of product name from the factory to the counter, all the information about dates of delivery and the storage life is recorded in the blockchain. This brings down the possibility of counterfeiting, protects the health of customers and the reputation of producers.
● Security and saving. The notification system of hardware failures, an expiry date, the delay of the consignment at customs reduces the producers’ losses. The ability to know the actual date of production, packaging, and delivery of the goods to the store brings down the costs of searching and disposing of poor-quality foodstuffs.
● Effectiveness and quality. Monitoring of storage conditions and equipment operability is automatic, what reduces producers’ costs of staff employment. This approach increases the efficiency of the supply chain, sets a new level of quality in the industry.
How does ZetoChain work?
ZetoChain work is based on the system of smart contracts among producers, transporters, and retailers of food. IoT sensors monitor temperature conditions in warehouses, record the date of dispatch and receipt of the consignment, send notifications in case of technical problems and other emergency situations.
Picture 3. ZetoChain transmits the data about the storage conditions of products by means of the IoT platform
According to Whitepaper, the program is adapted to the five main "links" in the supply chain.
● Producer. ZetoChain records conditions and storage life of raw material in the blockchain sends a real-time notification when the item is ready for shipment. Farms, factories, and plants owners distribute the load of equipment, optimize the time of consignments shipment.
● Transporter. The conditions of transportation of a product are fixed with the help of sensors, installed in trucks, wagons or containers. The transport company set the delivery schedule taking into account the shelf life of each product.
● Wholesaler. Temperature and maximum storage life of large consignments are offered to warehouses owners simplifying the product rotation.
● Retailer/Public eating house owner. Monitoring of conditions and storage life continues, ZetoChain sends the owner notifications in case of any failures.
● Consumer. Cafe and restaurants visitors, customers in supermarkets can scan a barcode of a product and get all the information about its producer, transporter, and wholesaler. Blockchain doesn’t allow editing records in the system, so all the information will be reliable.
Technically, for customers, ZetoChain is like the tracking of a parcel in an ordinary app like “Pochta Rossii” (Russian Post) or AliExpress. The version for producers is similar to the security panel: several indicators are on the computer monitor or the smartphone screen.
Picture 4. ZetoChain for suppliers and producers
How’s ICO of ZetoChain going?
Token sales are planned 9 July 2018 and will last until 31 July 2018. In total, 340 million ZetoCoins are planned to be sold. Tokens are issued under the ERC20 standard and are offered at a price of $1 for 10 coins.
Tokens are distributed in the following proportion:
● 44% of ZETO will be sold during the ICO.
● 34% will be a reserve for future development of the Zeto platform.
● 12% of tokens will be sold during the Pre-sale (starts 30 April 2018).
● 7,5% of tokens are meant for the first investors of the project.
● 2,5% of ZETO will be spent on the Bounty program.
According to Whitepaper, money collected by the team will be distributed in the following way:
● 60% will be spent on the future development and adaptation of the platform.
● 30% will be spent on marketing and promotion of the project.
● 10% will be spent on ICO and legal registration of the application.
How will ZetoChain develop after ICO?
Official website and Whitepaper of the company are full of schemes, business-plans and detailed assessments of market potential. It is a good news for investors, that the developers’ app is an adaptation of the existing technology to the features of the blockchain. Zeto company has worked on apps for retail since 2009, and it has used cloud-based services for data storage.
The app adapted to needs of producers, consumers, and suppliers of food. ZetoChain is supported by IBM, WalMart, Te-Food and other large companies, working in the global market.
According to Roadmap, in November 2018 the release of the API application for retailers and ordinary users is expected. In February 2019 will start the period of trial usage of ZetoChain available for everybody. The version of ZetoChain adapted to decentralized storage of the data, will be ready in June 2019.
Summary
ZetoChain is a platform for business and ordinary customers, allowing them to monitor the quality of food. The developers have got an experience in creating applications in retail since 2009, they cooperate with international IT and retail companies.
What is attractive in ZetoChain for investors? There are a detailed business-plan and brand well-known in retail. ICO of ZetoChain is a good way to adapt the popular app to the new technology. What are ZetoChain chances of success? The rating of the project on ICO aggregators is from 4.1, partners of the project are hypermarket chains and developers of apps.
Picture 5. ZetoChain for consumers: the ability to know a history of a product by scanning a barcode
The material is based on documents of the project:
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Author: https://bitcointalk.org/index.php?action=profile;u=1152502