[IMPACT]
Fetachain aims to offer a suite of B2B & B2C food traceability & tracking solutions on the Cardano blockchain. The main drawback of obtaining/relying on centralised certifications for food quality, often expensive and infeasible for small scale food producers in India, can be addressed by automating the supply chain handover points and data using low-cost IIoT sensors. While there are several similar projects in the crypto space outside the Cardano ecosystem (VeChain, FishCoin to name a few), enabling full transparency of the supply chain using the unique accounting model employed by Cardano (eUTXO) using IIoT is not readily available. To this end, we will be piloting with an organic food producer/partner in Tamilnadu to develop the proof-of-concept using their existing infrastructure and sensors purchased for this purpose. We wish to implement something similar to the efforts of Cardano Foundation and Scan trust’s Solution for Baia’s wines but with explicit emphasis and development of full-scale IIoT-Blockchain solutions, and also being specific to the Indian agricultural market. The FetaChain PoC will position us in the Cardano ecosystem with advanced tracing capabilities and enable opportunities for us to collaborate with supply chain companies and projects within and outside the ecosystem.
The traceability solution gives total visibility, allowing the user to identify the producers and learn about their background and production practices. This information will allow downstream buyers and manufacturers to assist producers in improving their production techniques, product quality and hence improve profits. Additionally, our solution highlights negative human and environmental effects while tracing raw materials down to the field and ensuring food security.
Empowering small and mid-scale food producers to prove their products are good.
Empowering the buyers to know exactly what they are paying for and buy products not just based on trust.
Providing a competitive edge for the good food producers.
Eliminating food insecurities and easier call backs.
Middlemen and handover points are automated using sensors that directly log data on the blockchain via datums/metadata.
The use of actual IIoT sensors plays a critical role to showcase the credibility of our tracking solution. There will be challenges in deploying, maintaining and troubleshooting sensors in the field. It is rather difficult to predict our visits to the field. To avoid frequent field visits and focus on development efforts, we could be employing a person or our partner at a fee to maintain sensors.
[FEASIBILITY]
Testnet deployment by mid Q2 2022 followed by mainnet deployment by late Q2 2022
Q3 - Making the solution compatible with more food products and driving business adoption.
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Hardware costs including IIoT sensors - $2000
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Web Dapp Development: 100 hrs @ $25 hours = $2500
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Mobile Dapp Development: 100 hrs @ $30 hours = $3000
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IIoT interfacing & backend for Data on-chaining - 200 hours @ $40 hours = $8000
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Cloud/IPFS infrastructure - $1000
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Administrative/registration costs - $1500
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Business adoption incentives and business client acquisition - $1000
Sam - Gimbalabs Plutus PBL 1st cohort, Smart contract lead - rarety.io, mobile dapp dev - godsofblock.art
Bharath - Plutus Pioneer, Senior Lecturer - International Center for Neuromorphic Systems WSU, experienced in IIoT and AI
Arun - Senior Customer Solutions Engineer & cardano developer
[AUDITABILITY]
Public testing releases.
Business and community demo sessions.
Number of Businesses adopting the solution.
Quantity and quality IIoT data on-chained.
Number of compatible food products and sensors.
Increased supply chain transparency for all the stakeholders.
Eliminating food supply chain insecurities.
Revenue growth for businesses adopting the solution.
Increase in customer acquisition for the food businesses
Increase in customer retention for the food businesses
Improvements in the sales volume of the products that have the solution integrated.
NA