FarmaTrust is a global tracking system that provides security to different pharmaceutical companies, governments, regulators and individuals. The company uses artificial intelligence (AI) and big data analysis in order to provide the pharmaceutical industry with services that allow more efficient processes and methods.
Problems and Solutions
At the moment, the pharmaceutical industry is suffering the proliferation of counterfeit drugs, an increase of online prescriptions, a big regulatory burden, chain inefficiencies and an important demand for “personalized” medicines.
That situation has resulted in the death of hundreds of thousands of individuals each year. Organised crime has infiltrated the pharmaceutical supply chain and are profiting from it. With an increase part of the society having access to digital prescriptions, counterfeiters are now able to set up fake online pharmacies.
Threats to pharmaceutical company profitability are increasing. The regulatory burden is also expanding and patent cliff is becoming more dangerous. In this way, the most profitable drugs will be produced by lower margin generic producers, hurting the most vulnerable members of society. Additionally, chain inefficiencies are reducing R&D budgets and creating shortages of medicines in some countries and oversupply in others.
FarmaTrust wants to provide a uniform approach to solve these challenges. The FarmaTrust solution aims to revolutionize the pharmaceutical industry in terms of costs and assurance.
The intention is to track pharmaceuticals through a supply chain that links digital systems to pharmaceuticals moving in the physical world. With a unique ID combined to a digital supply chain, FarmaTrust will be able to reduce or eliminate undocumented drugs entering the supply chain.
The platform will create a network of pharmaceutical brands, contract manufacturers and suppliers, logistics and shipping companies. This will become a trusted system ensuring that medicines are genuine products.
The platform uses a utility token that will be used to track the different items and drugs packets in the platform. It will also be used so as to pay tools and services provided by FarmaTrust.
FarmaTrust has a very complete roadmap that starts in 2016 and finishes the second quarter of 2019. The information provided is divided in each quarter of the year and can be easily accessed from FarmaTrust website.
Every quarter can be expanded showing the milestones for this time period. In this way, the company has decided to provide a good informational roadmap to track the developments performed.
Token Distribution and Budget Allocation
The token distribution will be as follows:
- 60% Crowdsale
- 10% Team Allocation
- 10% Incentives and Retention
- 10% Advisors
- 5% Marketing
- 5% FarmaTrust Operational
Every $100 dollars invested in FarmaTrust, $20 will be used for advisors and the team. The retention and incentive policy is a key focus for FarmaTrust. In this way, the company will be able to maintain the Blockchain developer team that it has.
The unsold tokens will be locked for a period of 3 years, with an annual release of 10% to be offered via FarmaTrust.
The funds usage will be as follows:
- 40% Technology and product development
- 10% Security
- 10% Marketing
- 10% business Development
- 10% Audit and Compliance
- 10% Accounting
- 5% Overhead
- 5% Legal
Should I Invest in FarmaTrust ICO?
We will discuss whether it is a good choice or not to invest in this Initial Coin Offering. In order to have a clear evaluation we will analyze different aspects of the ICO. After it, we will write a short summary about the ICO.
One of the most remarkable points of FarmaTrust is its team.
Raja Sharif is the CEO and founder of FarmaTrust. He is a strong supporter of the company’s vision and mission of protecting the vulnerable. He has been working in several technology and media projects including British Telecom and Al Jazeera.
Lord Anthony St John of Blesto
Lord Anthony St John of Blesto is the Chairman of FarmaTrust. He is a Crossbench/Independent Member of the House of Lords. He has been working as a legal counsel for Shell and then he has been oil analyst sales for Merrill Lynch and other enterprises. He has interests in cyber security, financial services and life sciences.
Peter Bryant is the COO of FarmaTrust. He is planning, coordinating and managing the company’s strategic business operation towards achieving the vision and mission of protection the vulnerable. He has been involved in a Management Buy In (MBI) of Guardian IT that resulted in a full market flotation on the London Stock Exchange.
David Allen Cohen
David Cohen is the Chief Tehnology Adviser at FarmaTrust. He has been working in the Decentralized Software, Blockchain and Digital Currency industry. He was named one of the Top 100 Movers and Shakers in the SmartGrid by Greentech Media. He is an expert on Blockchain, Artificial Intelligence, Cybersecurity and Edge computing.
Eszter Bohus is the Head of Global Brand & MarComms of FarmaTrust. She manages and coordinates the company’s marketing communication activities. She was working in different enterprises including Al Jazeera Media Network.
Othe team members are Shahnawaz Aziz, CTO, Steve Mcavoy, Head of Growth, Dr. Jenny Lee, Social Media Lead, Jeffrey Middelbos, Community Manager, Mike Barbarelli, Senior Software Developer and Product Development, Simon Josef UX/UI designer.
The white paper is clear and is very complete. It does not exaggerate in technical content and it allows investors to easily review the FarmaTrust project as a whole. The problems and solutions are explained properly as well as the ICO campaign.
The only point that I would mark is that the team is not presented in the white paper. If an investor is trying to analyse the team, it will not be possible to do it just by reading the white paper. But overall, is a good white paper.
The idea proposed by the team is very clear and possible to accomplish. The pharmaceutical industry has different problems and FarmaTrust is able to tackle them with this project.
It will be important to see whether FarmaTrust is effective in bringing the solutions proposed. If the illegal drug market finds a new way of evading controls, then the FarmaTrust would have to change directions.
The success of the project will not be only linked to the capacity of the team (the team is great) to develop the project, but it will also depend on the resilience of the illegal drug market.
FarmaTrust has a clean website that shows the most important aspects of the Initial Coin Offering. It has an explanatory video, the roadmap, the team, the media that is covering the developments of FarmaTrust and other related topics, and much more information.
It looks like most of the ICOs webpages, but it is very complete and ordered. That’s certainly a plus.
The FarmaTrust network uses a token that would allow the drug packets and items to be tracked. The token will be known as FTT and will be based on the Ethereum ERC20 tokens standard and will be upgraded to ERC223.
1 billion tokens will be available and just 600 million FTT will be sold. As the supply of FTT tokens is fixed, the currency will be non-inflationary. The tokens will be transferable and will be available in different exchanges to grant liquidity.
According to the white paper, the token design is based on a Holder-Utility token model. The FTT holder will generate 500 utility tokens per week upon creation and issuance. The number of utility tokens generated will increase by 10% from the initial quarter and such increase in utility will continue for 6.5 years.
For more information about it, you can check the whitepaper.
FarmaTrust has decided to end with several important problems that are causing hundreds of deaths per year. With an incredible team of experts, a clear white paper, a business that many companies may support, FarmaTrust is one of the most promising ICOs of 2018. Indeed, FarmaTrust has been named top tech company for 2018.
FarmaTrust will use Blockchain and AI to eliminate counterfeit medicines and automate regulatory compliance, automatic payments and automatic audits. With a mature management team and many years of corporate experience, FarmaTrust has important chances to succeed in the ICO market.
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Tags:David Allen CohenEszter BohusFarmaTrustICOInitial Coin OfferingLord Anthony St John of BlestoMedical IndustryPeter BryantPharmaceutical IndustryRaja Sharif