FoodCoin FAQ

General

What is FoodCoin Ecosystem?
FOOD (FoodCoin ECOSYSYTEM) is a new blockchain ecosystem, architecturally designed to create a global marketplace of food and agricultural products on the active platform of 1000 EcoFarms, using the Ethereum technology. 1000EcoFarms is the first, self-consistent and independent project related to food market, but yet not the only one. In the widest sense, FOOD is going to be implemented as an universal trading platform for businesses related to food. The FOOD deals will take place through the use of smart contracts, while the transactions will accept a proper cryptocurrency named FoodCoin (FOOD)
Is FoodCoin (FOOD) transferable and where is traded?
FOOD tokens are transferable. You can trade them using
Coinexchange https://coinexchange.io
BitFlip https://bitflip.li/trade/FOOD-USD
Forkdelta https://forkdelta.github.io/

The rating is also available on these resources:

https://www.worldcoinindex.com/coin/foodcoin
https://www.coingecko.com/en/price_charts/foodcoin/usd

And in Blockfolio app
Where will FOOD be used?
FoodCoin Ecosystem will be created for all kinds of food and agriculture businesses like trading blockchain ecosystem for farmers, proccessors, distributors, restaurants, caterings, farmer markets, food coops, buying clubs, etc
Why does the amount of FOOD that I bought during the market research vary in my account?
The exchange rate of FoodCoins is linked with Ethereum (ETH), and floats against other cryptocurrencies. Therefore, if you have made your contribution with any other cyrptocurrency, the exact number of FoodCoins in your account will vary according to the current market rate of the contribution currency against Ethereum. We now have the ability to lock the rate once before the coins are distributed to the contributors. To lock the rate, log into your account on foodcoin.io and click on the [Lock the current rate button]. The system will automatically pick a more favorable rate between the original rate on the date of the purchase and the rate on the date of a lock. Please remember that you can only lock the rate once.
How can I see the FoodCoins that I bought during market research in my wallet?
We have released an Ethereum Smart contract that will allow all participants to see their token balance in any ERC20-compatible wallet, including Mist, MyEtherWallet and others. To add tokens to your wallet, please see instructions and up-to-date information on the following page: https://www.foodcoin.io/contract-help. Please note that you will not be able to transfer tokens until the end of the TGE in December.

FoodCoin & Additional Resources

What is MyEtherWallet? Why do I need it?
MyEtherWallet is a free, open-source, client-side interface, which gives you your cryptographic set of numbers: your private key and your public key (address). It is an official tool which you can use to trade FoodCoin on the exchanges.
How can I access MyEtherWallet easier?
You can install MetaMask extension on your browser. The fastest, easiest way to unlock your wallet via MyEtherWallet.com.
Where can I buy cryptocurrency to purchase FoodCoin?
Create an account on Bitcoin Suisse. You can buy and sell cryptocurrencies with your FIAT money. From your bank account you can send CHF, USD, Euro and buy bitcoin, ethereum or bitcoin cash (and vice versa).
How can I exchange fiat money for FoodCoin?
On Bitcoinsuisse.ch you can transfer and exchange CHF from your bank account to your MyEtherWallet. From there you can transfer it to your MetaMask Extension.
How do I access Forkdelta?
ForkDelta is a decentralized Ethereum Token Exchange with the most ERC20 listings of any exchange. Here you can exchange Ethereum to FoodCoin.
To access Forkdelta, you should connect your MetaMask with ForkDelta. It's the easiest, fastest and most secure way to transfer your funds from your wallet to ForkDelta and back.
How can I exchange Ethereum for FoodCoin?
You can send your ETH from your Wallet to your MetaMask and exchange on the ForkDelta Exchange to FoodCoin.
Where should I keep my FoodCoins?
You send your FoodCoin back from ForkDelta to MyEtherWallet. You can keep your FoodCoin tokens in your wallet until FoodCoin Wallet (WallOk) will be ready for users.

KYC & AML

What is KYC?
KYC (Know Your Customers) comprising activities performed by financial institutions and companies to ascertain the information from their clients. The term also refers to the bank regulation which governs these activities. It is performed by almost all companies to ensure their proposed agents', consultants' or distributors' anti-bribery compliance. Banks, insurers and export credit agencies often demand the customers to provide the anti-corruption information, to verify their reliability.
KYC measures, as well as the jurisdictions, differ from country to country. However, it generally involves the following:
• Collection and analysis of basic identity information (referred to in US regulations and practice a «Customer Identification Program» or CIP)
• Name matching against lists of known parties (such as «politically exposed person» or PEP)
• Determination of the customer's risk in terms of propensity to commit money laundering, terrorist finance, or identity theft
• Creation of an expectation of a customer's transactional behavior
• Monitoring of a customer's transactions against their expected behavior and recorded profile as well as that of the customer's peers
What is AML?
AML («Anti-money Laundering») is a set of legal means designed prevent generating illegal income. Money laundering typically consists in hiding their actions through a series of steps that make it look like money coming from illegal or unethical sources was earned legitimately.
Who must go through KYC/AML?
All those who plan to participate in TGE
Why is it necessary to go through KYC/AML?
KYC and AML are necessary security means required by Swiss government. FoodCoin Ecosystem is a company based in Switzerland, which works legally and complies with all legal requirements of its country.
Is it safe for my personal data?
We care about the safety of your data, and its disclosure to third parties without your consent is totally excluded. KYC will be carried out in cooperation with our partner Identity Mind: https://www.identitymindglobal.com
Are the payments accepted directly?
To ensure safety and trust from our community, the tokens will be sold in cooperation with the payment processor CoinPayments: https://www.coinpayments.net
What will happen with the price of FOOD after being launched on the exchanges?
The exchange prices are determined by the demand and supply. As the demand increase, the price will grow too, and vice versa. As many people will not be able to purchase FOOD during the TGE due to limitations of our Terms and Conditions, they will have to do it through exchanges.
I have a technical problem! Where can I ask for help?
You can always write a letter describing your problem to info@foodcoin.io, or do it on our Telegram chat: https://t.me/Foodcoin

FoodCoin and 1000 EcoFarms

How will FoodCoin Ecosystem work with the marketplace?
1000 EcoFarms will be the early adopter and the first marketplace of food and ag businesses based on blockchain technology
What is Wallok?
FoodCoin (FOOD) is a token issued through Ethereum-based smart contract. Wallok is a smart multi-level multi-currency wallet. You can create your own unique wallet on your smartphone and synchronize it with other devices (PC, tablet, smart watch, etc.) Functional FOOD Wallet will allow users to:
• Oреn multi-currency accounts in fiat and crypto-currencies
• Issue invoices and pay bills
• Use only one or both of wallet levels (Vault or Air)
• Make instant and free transactions (on Vault level)
• Get access to exchange operations and conversion of fiat and crypto-currencies
• Use the integrated messenger Vault is the most secure level of storage and flow of funds, which will be held in under the platform and among the Wallok users. Transactions that take place between
Wallok users at the Vault level, may have an additional confirmation function. Air is the level for advanced blockchain users conducting external payments with the external wallets. A Wallok wallet will have an implementation for using them in business and personal tasks.
What is DiPay?
FoodCoin (FOOD) is a token issued through Ethereum-based smart contract. DiPay is a 2-level cryptopayments processing service. As part of DiPay processing, the following features will be available:
• creating mobile multi-sig cryptowallets;
• safe cryptocurrency storage;
• free and instant payment platform;
• option of withdrawing coins in fiat currencies;
• option of issuing and receiving bills/invoices
• buying and selling cryptocurrencies in online mode;
• recurring payments;
• binding to bank accounts and cards;
• integration with third-party software (for restaurants, accounting, inventory control, etc.). For the implementation of DiPay, partner bank will be connected in blockchain-loyal jurisdictions. DiPay will have an API to connect to third-party services and resources.
What is DIGID?
FoodCoin (FOOD) is a token issued through Ethereum-based smart contract. DIGID (Digital Identity Verification Platform) is a remote user verification system built on a decentralized Ethereum-based blockchain platform. Full application of blockchain technology in the business environment would be impossible without powerful and secure user identification tools. User identification will be voluntary, but at the same time, an essential condition to participate in the platform in its business implementation. How the user is identified?
• The parties to a smart contract transaction can request a oneway or mutual verification to the other party to the transaction. For this purpose, parties to a transaction exchange DIGID username public keys (tokens). In order to get a full DIGID, the user will have to obtain a confirmation of its profile from a third-party platform user.
• The user is identified only once and it remains so in the system as a digital entry forever, and can be requested automatically during the verification request.
What is SMACO?
Smaco (Smart Contract) is a flexibly administered smart contract with the function of multiple inputs and outputs. Smaco will have a integrated horizontal and vertical connections between the transaction parties. A smart contract will be managed by one or more administrators. A hierarchy with permissions will be configured by a FOOD user who created the smart contract. All administrators horizontally integrated in the current smart contract, will have the same rights and cannot be removed or restricted in smart contract management rights after signing it. Each administrator will be able to create a vertically integrated private blockchain for personal service within the current smart contract. The administrators will not have access to private blockchain of another administrator. Additional parties of the transaction can be invited by the administrators of on their own initiative or on the basis of consensus, and become either parties or verifiers of the current smart contract. An open library of standard Smaco contracts will be created with an intuitive interface for connecting additional options. Creating and maintaining Smaco contracts will not require programming skills. Working with Smaco will be usable for everyone.
What is PRORID?
PRORID is a products and goods origin authentication system. Actually, PRORID will be a type of Ethereum-based smart contract. An essential condition to prove the origin of the goods or product in the PRORID system will consist in signing a smart contract by one or more experts (public, commercial or private) with an undisputed authority in matters of origin authentication of the goods that are the subject of an agreement in the framework of the current Smaco contract. If a smart contract includes a PRORID feature, the logistics company will be obliged to accept the goods only after confirmation from the experts on the current smart contract based on the consensus between the parties of the contract. PRORID integration with the electronic databases of public fiscal, customs and supervisory authorities will significantly limit the circulation of illegal, counterfeit and other illicit trafficking products and goods, thus making a significant contribution to the fight against economic crimes.
How many farmers does 1000 EcoFarms have now?
700+
How many users does 1000 EcoFarms have now?
4000 +
Where can I find the white paper?
Check out this link to find the updated copy of the white paper https://www.foodcoin.io/files/doc/foodcoin-whitepaper-en.pdf.
What will be happening to the original 1000ecofarms.com while you are starting FoodCoin?
FoodCoin and 1000EcoFarms are two separete businesses. 1000EcoFarms is early adopter for FoodCoin Ecosystem. Our goal is to create a blockchain ecosystem for food and agriculture businesses based on existing platforms like 1000 EcoFarms. Farmers, manufacturers, processors, and restaurants will be the users of FoodCoin ecosystem all around the world. 1000EcoFarms is already operating marketplace. FoodCoin will expand the capabilities of 1000EcoFarms platform and make it suitable for different scale agricultural and food businesses (both local and international)
Can I buy products in your shop for these tokens?
1000EcoFarms is not a shop. It's a marketplace. And yes, you will be able to buy products from our partner-farmers who will accept FoodCoins.
Can I get free FoodCoin?
Yes you can! Join our referral program. Check put this link please: www.foodcoin.io/bounty
Is FoodCoin mineable?
Not right now. Later, when we will create our own blockchain, it will be mineable.
Is FoodCoin also implementing food provenance in the food chain?
Not yet. It will be one of the tools of our FoodCoin Ecosystem in future.
Which large businesses have you approached, and which have expressed interest in working with you? When will you have your first sizeable and real partnership?
We will begin to make strategic partnership agreements as early as next year. A full-fledged cooperation will be possible as soon as our system will be launched and tested.
Do you have any prototype for you blockchain?
We will create an Ethereum-based blockchain. We will start working on it after the 1st stage of TGE, and the code will be available on GitHub.
You are combining 2 very novel factors here: your business model, i.e. 1000 EсoFarms platform, is a novelty, and on top of it you throw another novelty which is the whole crypto currency experience. Now, this will be a double whammy for both your farmers and users - neither one of these concepts has gained enough traction yet nor anything close to early majority let alone mass adoption. When, which year, do you think your business model will actually gain enough traction to be really sizeable (if it survives), and how will you minimize the risks along the way and maintain your possible first entry advantage? Also, which are the main competitors to 1000 EсoFarms, and which geographical regions will you target this year and next?
1000Ecofarms is separate and an already operating platform. To date, we are focusing on the US and EU markets. But after the TGE we are planning to develop the European market. 20% of the funds raised on the TGE will be sent to involving a new users like the 1000Ecofarms platform. Up to 10% of all tokens will be sent to social projects. Using funds in these ways, we expect to get support from different sides, and it will increase the popularity of both our projects.
FOODCOIN in SOCIAL
Send us email:
support@foodcoin.io -      Technical issues
media@foodcoin.io -         PR&Marketing
info@foodcoin.io - General questions
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