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PRE ICO Dates : 01/06/18 – 15/06/18
About FarmaTrust ICO (token sale)
FarmaTrust ICO is a true use case for blockchain technology in respect of its ability to create immutable records thereby satisfying regulators’ requirement of incorruptable data as well as track and trace obligations. Using blockchain as a foundation allows FarmaTrust to create commercially viable products for the pharmaceutical industry.
The pharmaceutical industry is critical for the preservation of life and health of society. It is a US$1 trillion industry, and generates some of the highest profits among all the commercial sectors. Despite the importance of this industry, it is currently struggling with numerous challenges as a result of criminal enterprises, ineffective stock control and lack of visibility of its supply chain.
Major challenges for the pharmaceutical industry are currently:
- Proliferation of Counterfeit Drugs : Fake drugs result in the death of hundreds of thousands of individuals each year. As shown in this paper, organised crime has infeltrated the pharmaceutical supply chain because of high pro ts and lenient sentencing.
- Increase of Online/Digital Prescriptions: The increase in on-line purchases and the growing acceptability of “virtual prescriptions” have made it far easier for counterfeiters to set up fake online pharmacies, with law enforcement agencies struggling to permanently shut them down.
- The Regulatory Environment : As threats to pharmaceutical company profitability are increasing, the regulatory burden is increasing as well, and the patent cliff is becoming more dangerous: The most profitable drugs will soon be produced by lower margin generic producers. Such dynamics affect the most vulnerable members of society – sick people fighting against cancer, HIV, malaria and other life-threatening diseases.
- Supply Chain Inefficiencies : Such inefficiencies distort the price of medicines as well as reduce the R&D budgets of many pharmaceutical companies. Inefficient supply chain also means there are shortages in some countries and oversupply in others.
- Growing demand for ‘personalized’ medicines : The growing demand for “personalized” medicines requires a secure, transparent and permission-less solution which is accepted globally.
As a result, FarmaTrust firmly believes and is confident in its ability to provide a uniform approach to solve these challenges faced by the pharma industry. Blockchain technology has the potential to fundamentally transform this industry, and will significantly help address these challenges.
The advances in technology, the increase in the regulatory burden, and the need to reduce costs means that the industry is looking for a commercially sensible, global, regulatory and system neutral solution to the problems plaguing the industry.
The FarmaTrust solution will revolutionize the pharmaceutical industry both in terms of costs and assurance. The customers will be provided with the guarantee that the vital medicines are genuine and, therefore, effective.
With the advancement of Blockchain technologies as well as the developments in AI and encryption, FarmaTrust believes there is an international, cost effective, co-operative solution to solve the problems affecting the pharmaceutical industry.
FarmaTrust requires utility tokens which are used to track the various items and drug packets through our platform as well as pay for tools and services provided by FarmaTrust.
FarmaTrust will also issue holder tokens whose symbol will be FTC.
FTC tokens are based on Ethereum ERC223 token standard. A total of 600 million FTC tokens out of 1 billion in total, will be available for sale. Each FTC creates utility tokens which are required to use the FarmaTrust platform and services.
Each FTC Holder token shall be priced as set out below. The purpose of this issuance is to nance the extension of the already working FarmaTrust blockchain system.
Proceeds of the FTC token distribution event will be used to fund FarmaTrust operations including development phases as set out in the roadmap.
The Token Distribution Event (‘TDE’) of FTC tokens and the corresponding token creation process is organized around smart contracts running on Ethereum. Participants willing to support the development of the FarmaTrust platform can do so by sending Ether to the designated address.
The supply of FTC tokens is xed and therefore limited and non-in ationary. It is fractionally divisible. As described below, only a portion of the FTC supply will become liquid soon.
FTC units are fungible and transferable, and we expect to trade on a variety of cryptocurrency exchanges in exchange for Bitcoin, Ethereum and other coins.
pre-sale US $ 0.04