Farmatrust ICO Review (FTT Token): Blockchain solution for Medical products

FarmaTrust ICO

USD $0.05
FarmaTrust ICO
8.5

TEAM COMPOSITION

8.0 /10

BITCOINTALK.ORG THREAD

8.5 /10

Community and Media

9.0 /10

TOKEN DISTRIBUTION

8.0 /10

WHITEPAPER

9.0 /10

Pros

  • Cost effective approach to meet track and trace regulatory compliance.
  • Supply chain system are quick and cost effective to implement.
  • Reduce risk of purchasing online fake medicines.
  • Provides all holistic view of medicine within the territory.
  • Ability to quickly verify genuine products.

Cons

  • It cannot fully control the fake medicine market.
  • They need more depth plan.
  • Complex system with huge crowdfund.

Fake drugs harm and kill millions around the world. This causes serious damages on the brand names and bottom lines for various pharmaceutical manufacturers. PWC study states that pharmaceutical companies and government programs that provides low cost medicine are also losing notable revenues. Seeing the increased cost fake drugs returns, fraud and the creation of burden from reporting to action.

According to the PWC report at present 30% of all drug supply are fake. This lead to the death of million people including 450,000 preventable deaths from malaria. These deaths can be caused directly to the toxic ingredients used to produce fake drugs.

Illegal pharmaceuticals are now using digital channels to target developed countries where traditional physical drug distribution networks are well protected. A report found that medicines bought over the internet hide their physical address are fake in more than half cases. The increase in online sales are due to consumers are not able to afford visit to the doctor and take medicine from pharmacy.

Pharmaceutical products includes different laws such as jurisdictional borders, agreement. So how we can solve these problems related to pharmaceutical industries?

FarmaTrust!

What is FarmaTrust?

FarmaTrust is developing a fast, scalable, and secure blockchain solution that automates end-to-end tracking of medicinal products throughout the pharmaceutical supply chain.

By controlling the growing efficiency of big data, machine learning, blockchain technology and intelligent workflow processing, FarmaTrust both accurately and securely records data relating to serialized packages as they pass through each point in the supply chain lifecycle, in accordance with track and trace regulatory requirements.

White Paper

How FarmaTrust will solve the problems?

The main aim of FarmaTrust is to become the root system of choice for the pharmaceutical supply chain. The company intend to do this by providing effective global data verification and coordination layer. This will help to enable greater transparency, efficiency and rigidity for the recording of all activities across the supply chain from point of manufacturer to the end of consumer.

FarmaTrust ecosystem has also developed the blockchain-based Zoi Supply Chain Information Exchange platform which will securely verify and track the supply of genuine products across a diverse network of pharmaceutical brands, manufacturers, distributors and supply chain operators, providing traceability and data services to governments, law enforcement agencies, NGOs, retailers and end consumers.

By integrating blockchain technology with big data machine learning and intelligent business logic, the Zoi system helps prevent fake and counterfeit medicines from easily entering the consumer market undetected. The Zoi platform consist of REST API interface. It helps in existing supply chain management systems to securely share information about products moving through the supply chain.

The platform solves current track and trace challenges by creating a unique digital token to reference every Serialized Product Key from point of manufacture to point of sale or return. Zoi utilizes blockchain technology to capture and create an immutable record of product data across multiple differing supply chain systems, ensuring transparency and compliance at each stage.

How does the FarmaTrust Ecosystem works?

FTT (FarmaTrust Token) holders will create an account on Zoi platform. Token holders will load FTT tokens into their supported wallet on Zoi platform. These staking wallets will earn 500 ZOI tokens each 7 days for every 100 FTT tokens staked.

Pharmaceutical companies acquire FTT or Zoi tokens from Zoi exchange. They will use FTT tokens to digitally pair batches of serialized product keys. This will meet track and trace regulations.

Each unique Serialized Product Key is tokenized with one Compliance Tracking token. These tokens track product submission across the supply chain. They are burnt when the package is delivered or returned. Government departments, customs and law enforcement agencies can use Compliance Tracking tokens to track genuine products in real time.

Zoi tokens are used to access and pay for data requests on its own platform. This includes reports, product details, package history, notifications and alerts.

Features of FarmaTrust’s products?

  • Smart contracts and intelligent processing
  • Supply chain data automation
  • Data security and confidentiality
  • Packet level trading and traceability
  • Artificial intelligence

ICO Details 

Start date 15th of June 2018 to 31st July 2018
Pre-sale 1st June to 15th June 2018
Token Name FarmaTrust Token
Token Symbol FTT
Type ERC20
Total Supply 1,000,000,000 (1 Billion)
Token Sale 600,000,000 (600 Million)
Accepting ETH, BTC, LTC, BCH, DASH, XRP, XMR, ZEC, fiat
Listing Price USD $0.05
TDE Soft Cap USD $7,000,000
Sale Hard Cap USD $20,250,000

Token Distribution

Token allocation

200,000,000 tokens – Tranche 1 (Private Sale – 40% discount)

150,000,000 tokens – Tranche 2 (Institutional Investors – 30% discount)

100,000,000 tokens – Tranche 3 (Pre-Sale – 20% discount)

100,000,000 tokens – Tranche 4 (Public Sale – 0% discount)

50,000,000 tokens – Bounty and referral program

Funds allocation

40% – Technology and Product Development

10% – Security

10% – Marketing

10% – Business Development

10% – Audit and Compliance

10% – Accounting

5% – Overhead

5% – Legal

FarmaTrust Token pool

Conclusion

The project is mainly based on pharmaceutical profit and reinvention of the market. This project is not for everyone. Normal users can buy genuine medicines only using the FarmaTrust platform. As they have managed to conclude so much crowdfund that this project seems to be successful from now only.

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