Past ICOOct 31, 2018 – Jan 15, 2019
veriTAG is a blockchain-powered food ecosystem.
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veriTAG seeks to create a one-stop solution platform into China for food using its patented authentication system as the foundation, veriHUB, as a central database system with applications and a rules-based engine and veriSHOP to link customers to the products. Currently, veriTAG has more than 40 merchants, 100 unique products on board with strategic partners, which include ito yokado, Isetan, and G Super. There is a per-product sign-up fee for merchants to be on the platform and the other costs are variable and optional: the physical tags and tagging/labelling are charged per piece and each product sold has a small percentage commission to veriTAG (and in turn the eCommerce platforms). The actual costs of shipping, logistics, taxes and marketing are charged accordingly but again, the merchants will leverage of veriTAGs economies of scale, cost efficiencies and managed coordination with these third party providers.
ICO DetailsICO token supply: 700,000,000
Soft cap: 5,000ETH
Hard cap: 5,192,000 USD(fiat)
Raised: 523,000 USD
LegalICO Platform: Ethereum
Registration country: Singapore
Token infoTicker: vtag
Token price in USD: 1 vtag = 0.009524 USD
Accepted currencies: ETH BTC USD
70% - Token Generation Event
10% - Foundation
10% - Team
10% - Reserve and Others
40% - Sales and Marketing
30% - Platform Development and Operation
25% - Research and Development
5% - Legal and Others
- Developed veriTAG embedded Cloud tagging solution.
- Setup and develop veriTAG for semiconductor.
- Setup and develop veriHUB building upon veriTAG success.
- Developed veriHUB, one stop food import hub solution for China.
- Focus on one stop solution for China
- Ink MOU with Y32 and Digitnexus to enhance services on veriHUB and to go on board blockchain.
- Develop and launch veri$HOP.
- Developed veri$HOP, a WeChat mini app that links customers with merchants for shopping and interactions.
- veriTAG goes on blockchain
- veriHUB 3.5 upgraded to PSG under IMDA
- Sign MOU with Rizon to extend on blockchain and logistic services in China ChongQing
- Sign agreement with 17 Flash store (an unmanned technology provider under tencent company) to be part of the offline channels on veriHUB 3.5
veriTAG Blockchain for food tracking
- Setup veriTAG blockchain and API Gateway;
- Developed veriTAG blockchain smart contracts;
- Developed APIs for veriTAG blockchain smart contracts.
- Ink agreement with SMF (Singapore manufacturing Association) to provide veriHUB services to its members (> 3000)
- In development with 3 seafood associations in Singapore to set up Poseidon, a veriHUB ecosystem for seafood
- In development with Halal Science Center to bring Halal on blockchain through veriTAG and Thailand Halal products through veriHUB to China (veriHUB Thailand)
- Formation of GFCA (Global Food chain Alliance), a food ecosystem on blockchain to share resources for growth and token interoperation. 6 founding members are veriTAG, NULS, Morpheus Lab, Reefic protocol and Sakae Fintech
veriHUB Blockchain for food supply chain phase 1
- Setup veriHUB blockchain;
- Develop Token Exchange within veriHUB blockchain;
- Develop veriTAG wallet;
- Develop token smart contract;
- Enhancements for veriTAG blockchain.
- Bring MUIS (Singapore Halal certification) onto veriTAG blockchain
- Setup 17 unmanned stores in Chengdu China and Singapore
- Establish Singapore booth into Ito Yokado, Isetan and G super in Chengdu
- Establish collaboration linkup with Chengdu Food and Beverage Associations
- Launch of vtag ICO
veriHUB Blockchain for food supply chain phase 2
- Expand veriHUB blockchain network;
- Enhance Token Exchange within veriHUB blockchain;
- Enhance veriTAG wallet;
- Develop veriHUB blockchain smart contracts for food supply chain.
- Schedule to release veriHUB on blockchain in Dec 2018 with e-wallet for token interoperation
- Embark veri$HOP onto Reefic protocol token program. veri$HOP credit points can be used to exchange rewards points for restaurant use in Singapore and Malaysia
- Setup veriHUB Thailand for export of Singapore products to Thailand and Thailand products to China
- Work with HSC in Thailand to bring Thai halal onto veriTAG blockchain
- Bring veri$HOP onto blockchain
- Setup veri$HOP in Singapore and extend token to use in Singapore by consumers and merchants and through collaboration with Sakae
veriHUB Blockchain for food supply chain phase 3
- Future enhancements;
- Bring veri$HOP onto blockchains.
- Series A fund raising
- Setup veriHUB Vietnam for export of Singapore products to Vietnam and Vietnam products to China
- Extend veriHUB operation from Chengdu to Chongqing, Guangzhou, Beijing and Shanghai.
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