What is the problem?
Global supply chains combined with regional regulations lead to an inefficient food industry. Being globally sourced, much of our food is impossible to track from point of origin to consumption. Food must cross many borders, and be subject to the various laws throughout the regions they enter. In addition, regional regulations lead to much food being wasted, as it might not adhere to certain standards. These standards oversee everything from sanitation to freshness and age. These regulations lead to huge amounts of food wastage, as products cannot be brought to the consumer in time by the retailers, while remaining compliant.
What is the solution?
There may never be one solution, and it definitely will not be easy. In order to fix the issues, we need a technology that will allow for an accountable global system to be applied to supply chains. Something that allows for an efficient and adaptive way of tracking supply and demand. By building and understanding greater datasets, excessiveness – and in turn wastage- can be greatly reduced.
In addition to changing the supply chain, the relationship between the end consumer and the retailers needs to be strengthened. New forms of communication need to be established to better relay system statuses. A system needs to be developed that will allow retailers more insight into what specific consumers are purchasing, and allowing them to market expiring inventory to said consumers. A system such as this would help the retailers save money by reducing lost product and eliminate the losses often passed off to their customer through pricing mechanisms. The end consumer will then benefit from this system through not only financially, but by the convenience of directed marketing for their specific needs.
Who is going to fix it?
Enter ‘Delicia’. This is a young company that has recognized global food wastage as a severe problem. Their team is helmed by a trio of forward thinkers.
The team estimates that food wastage is over an $18 billion/year problem. To them they see the problem as an $18 billion/year opportunity, and have set out to solve it.
How are they going to achieve the fix?
Delicia plans to minimize food wastage by creating a platform to facilitate the growth of more effective communication channels between end consumers and retailers. Their proposed platform allows for a more accurate means of tracking supply and demand. By building the appropriate datasets, retailers will have a better understanding of their consumer’s needs, and order the appropriate food products they want.
In addition to understanding the intricacies of their local supply/demands, retailers will be afforded the ability to better communicate excess food products nearing expiration. In doing so, they can minimize waste by offering promotions/discounts on these products, to the consumers most likely to be interested.
Delicia has an ICO occurring in the coming months. To fuel the proposed platform, this ICO will mark the creation and distribution of the DFT token. This token will be used to buy/sell products between participants on the Delicia platform – effectively creating a cashless system.
The crowd sale is taking place with the intention to raise the capital needed to develop the AI and blockchain technology needed that will underpin their endeavour. The planned pre-sale will begin July 31st, 2018. Don’t miss an opportunity to make our world a more efficient place!