We are glad to share with our community the updates about FOODCOIN’s recent accomplishments.
Events and News
In May, FOODCOIN was recognized as one of the best out of 22 Swiss startups
according to SWISSNEX. As a result, FOODCOIN was invited to take part in Consumer Electronics Show Asia (CES ASIA
), Asia's largest tech and digital expo. The event took part in Shanghai from 11 to 13 June 2019. Together with FOODCOIN, there were 22 leading Swiss startups participating in the exhibition. All these startups work in the most innovative areas, such as AI (Modulos, Kevin Schawinksi), drones & robotics (Rovenso, Thomas Estier), internet of things (Spectroplast, Manuel Schaffner), and many others.
CES ASIA, along with CES 2019 Las Vegas, is the premier event for the consumer electronics industry, showcasing the latest innovation from all over the world.
We launched a pilot project to integrate a potential partner Molseralp, which decided to implement FOODCOIN Ecosystem in their business. Molseralp is a new Swiss dairy farmer cooperative
in a picturesque place of Flumserberg, Tannenboden. To prove the high quality of the butter they produce, the product origin will be tracked through FOODCOIN Blockchain and verified by anyone just by scanning a QR-code on the product.
On June 24, FOODCOIN CEO Gregory Arzumanian took part in European Innovation Council in London
, UK. During the event, Gregory Arzumanian discussed ideas and potential of funding a pilot project in Europe, and what FOODCOIN can offer to improve it. The main participants were representants of venture and innovation companies. The main topic of the event was funding opportunities for innovations and the ways to support European inventors and innovators.
We believe that support from the government and agencies is important for innovative startups, but support from the community and people, the project is being created for, is just as important. Currently in FOODCOIN we are working on partnerships with large companies to implement our ecosystem in their business model and we are preparing to launch our own blockchain with token to coin swap. This is a key point for the development of the project so we have to get rid FOOD of speculators so that our Holders can get all the benefits from the launch of the coin.
In June, we began to resolve an old problem related to FOOD token speculation on the exchanges. Since March of the past year, we have been experiencing some pressure and exchange rate manipulations from unknown parties trying to make us act for their own benefit. We have been watching it from the sideline, as we were sure that it would be resolved as the demand grows. However, cryptoindustry was found under severe pressure, which made it difficult to integrate blockchain instruments into real market.
Last month, we detected many null transactions that we could not ignore. Due to suspicious activity related to price manipulations to impose intermediation services, we had to take measures to protect the interests of over 2000 FOOD Holders. We blocked the owners of the addresses involved in these 'toxic' transactions, and we are currently carrying out an investigation, which already gave us some results. We found out that there is a group led by a so-called 'Crypto guru'. During almost 1.5 years, these token holders was carrying out an aggressive policy against our project to dump the price and force us to pay for their illegal services.
Their tokens became frozen, and we are identifying the leader and other persons behind that group, as well as their addresses from which the toxic transactions were generated. We are gathering all the technical data to present it to the lawyers and law enforcement authorities. We plan to trade FOOD token on another decentralized exchange, as well as expand the number of exchanges where you can trade FOOD token.
And these are the milestones that our Technical Team has reached so far.
Development of WALLOK for FOODCOIN Blockchain
• Released test versions for Android and iOS apps;
• Implemented biometric authentication in Android and iOS apps: Touch ID / Face ID;
• Invoice issuing and paying feature implemented;
• Implemented authorization on 3rd party services through link and QR code;
• Added contact list management feature;
• Added feature for hiding metadata, so that the private metadata can be visible only to the owner and verifiers.
• FOODCOIN Blockchain optimization and testing: Blockchain testing, bug fixing are in process;
• Working on Bistra system, and its integration with Provider system;
• Payment system development: Integration of Bitcoin into the payment system is complete;
• FOODSCAN functions optimization: Information display optimization.
• Development of WALLOK for FOODCOIN Blockchain network (Global redesign and improving usability, adding multiple currencies feature);
• Optimization and testing FOODCOIN Blockchain: Blockchain testing, bug detection and fixing, Provider system optimization;
• Working on Bistra system and its integration with the Provider system and 3rd party services;
• Payment system development: System testing, bug detection and fixing, start working on the crypto exchange system.
• FOODSCAN: Improving the information display based on new subsystems.
And other updates are planned to be carried out, which include new partnerships and exchanging tokens to coins. Stay tuned!