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Insights on Greek Food Corridors-E auction

Mar 13, 2018 Posted /  4023 Views

Insights on Greek Food Corridors-E auction

Greek producers, small in economic strength, numerous and uncoordinated, are unable to define the prices of agricultural products. They are not price-makers but price recipients in the hands of a small number of businesses who are pricing according to their interests. Thus, the prices paid by consumers are often 4-6 times higher than the prices received by the producers.

The low income of producers, the exploitation of the market by wholesalers at a monopoly level, the lack of association between research and production, the delay in the implementation of crop restructuring, and the small and inefficient organization and coordination of growers cooperatives and farmers, are today the major problems of the country’s agricultural sector.

Despite the unfavorable economic environment, Greek foods stand out on the international market confirming the comparative advantage of Greece in the agri-food sector. Traditional Greek food harmonically combines taste with high nutritional value. Dozens of scientific studies have demonstrated the positive effects of the balanced Greek diet on health, beauty and longevity.

About GFC e-auction platform

GFC e-auction platform will be a huge step to empower farmers. Traders will bid online from anywhere in the world and farmers & farmer’s association will have secure product flow and a fair price for their products. This will lead to “scientific” price discovery by the farmers themselves, breaking the hold of middlemen.

The new online National Agricultural Platform (NAP) of GFC will allow the GPs (Group of Producers) to create economies of scale, increasing them their turnover & profit without the risk of capital. The new online sales platform will allow growers to focus exclusively on their production and invest in new opportunities in the fields of cultivation, sustainability and quality, having secured the flow of their products. Its members will be able to benefit from economies of scale, and make better use of marketing.

Aim of GFC e-auction platform

GFC National Agri-food e-auction platform is a unique initiative established in Greece. It integrates & coordinates the actual Agri-food spot markets with the nationwide network of product supply, cold storage logistics, SPs, CQ agencies and Transport companies to provide rapidly the best quality product at your doorstep.

The work of an e-auction is to help producers at different levels, organization, promotion, certification, standardization, storage, transportation. It is equally important to have the support of the Ministry of Agriculture, research centers and local Universities. We need the technology to evolve, to help our farmers grow, people to find jobs, our Greek products to find the way to the markets.

The objectives of the platform are described as following:

  • To streamline marketing & transaction procedures forming supply and payment chains and make them uniform across all markets to promote efficient functioning of the markets.
  • To promote better marketing opportunities for farmers / sellers through online access to more buyers / markets - Market opening and fair competition
  • Removing numerous intermediaries and the information asymmetry between farmer and trader, that often outweigh the price x5 without providing substantial services.
  • Accessing to detailed market information & international markets

• Improving the price for producers and consumers through better and real-time price discovery based on actual demand and supply of agro-commodities, and through transparency in auction process and direct payment guarantee.

  • Ensuring quality
  • mproving packaging

Token Details

· Token name: GFC e-auction for Agri-commodities

· Token (ticker) symbol: GFC

Used blockchain: Ethereum

· Token lifetime: 10Years

· Token execution environment: Etherium platform

· Token sales cryptocurrencies: ETH

· Token standard /type: ERC 20 standard base Etherium Token.

· Amount of Token supply: 50.000.000

· Token standard price: GFC 1 = 0,0005 ETH, or equivalent in Euro(≈0,50 EUR)

Smart contract address : 0x4c2e198CF5Ee4Ca4d6e9e0C1B2b954f9101c7FC1

· Will the Token be tradeable: Yes

· Token decimal units: 0

· Minimum purchase amount: 1 GFC Token

Token sale start date and time(UTC): 05.03.2018 (12:00 AM)

Token sale end date and time (UTC): 30.04.2018 (12:00 PM)

GFC e-auction Concept design

The design of GFC’s concept is the setting up of a central auction system in Athens, call it the “dealing room”, in which various Fruit & Vegetable lots are sold to the highest bidder using a clock auction system. You have 1 central server system which communicates with all the regionally depots involved in selling the products. In each depot, supplied products are registered with their product characteristics and the right storage location with the dates of receipt indicated. These data are centrally stored. Our selling parties enter the supply they want to sell on the clock system via GFC web portal after logging in successfully. In this way, we will get a certain stock, which can be sold afterwards to the “registered buyers” through the various e-auction sales tools. Afterwards, the information from all these transactions is available on the website of GFC organization for buyers, farmers etc. After being logged in, the client can view his specific data (transactions, catalogues, statistics, and general information). After the sale, the various depots get the necessary tasks and insights about who is going to load what. The back office software makes the necessary finalization of the transactions, follow-up of invoices, payments, statistical reports etc

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Tags: Token Greek Food Corridors GFC empower farmers

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