FarmaTrust ICO Review | Pharmaceuticals Supply Chain Management Platform
- Total Supply: 1,000,000,000
- Available in Sale: 60%
- Hard Cap: $20.25 million
- Market Cap: $33.75 million
- Token Type: ERC-20
- Ticker: FTT
- Pre-Sale: Yes, beginning 1st June 2018 with 20% discount
- Whitelist: Register on FarmaTrust home page
- Public Sale Live: ~15th June, follow this step-by-step guide to participating
- Weekly Bonuses: None
- Volume Bonuses: None
- Token Distribution Date: TBA
- Website: https://www.farmatrust.io/
PWC estimate that 30% of all pharmaceutical drugs in circulation are counterfeit, leading to up to 1 million deaths globally every year. FarmaTrust are aiming to solve this problem by building an ecosystem for tracking pharmaceuticals through the entire supply chain with an immutable blockchain, from manufacturer to end consumer. This will be achieved through utilizing QR codes, RFID tags and an end user consumer App for verification of medicines.
- Strong team and list of advisors with experience in a wide range of fields.
- Two big partnerships already in motion with India-based Gaco Pharmaceuticals and the Mongolian government.
- Product development well underway with a working end-consumer App for verification of drugs and a frontend MVP for companies and organisations (see demo videos below).
- FarmaTrust doesn't only have the potential so save lives, but also to save money for pharmaceutical companies by improving supply chain efficiency through technologies like automated payments and data analysis. For governments and regulators, a specific dashboard can help locate areas of high counterfeiting to aid law enforcement. This should help adoption.
- Platform is compatible with any existing hardware or software. Again, this should improve adoption.
- FTT token economics are strong with high utility in the platform, used for staking to generate ZOI tokens and for bonding to batches of medicines for tracking - which locks up tokens. As such, token value should appreciate with greater usage.
- Many high profile projects working on supply chain tracking solutions e.g. VeChain and Walton Chain, so competition is rife. However, CEO Raja Sharif emphasises how FarmaTrust is focusing all its efforts on the pharmaceuticals industry, so aims to remain competitive through specialization. This seems like a good approach, as the industry has strict regulations and specifications to cater for.
- Sharif also notes in an interview how resistant the pharmaceuticals industry and existing supply chain providers are to change, with many companies reluctant to engage in technological innovation. This could slow adoption. However, we believe that due to the significant benefits for both companies and governments at the global level, this is unlikely to be a long term dampener on the projects success.
- Most of the social channels are fairly active, with 7000+ telegram members and a few 1000 Facebook and Twitter followers. However, the sub Reddit is very small with <100 subscribers at the time of writing. Reddit has a huge crypto community, so this should be built up.
Consumer App Demo
Frontend MVP Demo
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