Alt Coin News + FarmaTrust ICO Review

EOS
Block.one launched the EOSIO Bug Bounty Program in partnership with HackerOne, which has serviced clients like US Department of Defense, Google, Microsoft, Starbucks and GM.

EOS Mainnet is expected to launch tomorrow.

(This is likely the result of the critical bugs found recently. Potential concerns of other critical bugs already found by other hackers with less good intentions.)

https://twitter.com/EOS_io/status/1002066884127330304

Tron
Tron Mainnet is now live.

The price is steadily dropping today, about 5%, being one of the top 100 coins losers :D

https://twitter.com/justinsuntron/status/1002011230280728576

Populous
Populous partners with Cashaa, a blockchain banking platform, to make the Cashaa wallet available to all Populous World users.

Cashaa, a current top 280 coin, has risen from top 420 in less than a week as they decided to distribute 192M CAS unsold tokens to holders by June 5, worth around $15M, in the ratio of 0.7 CAS for each 1 CAS token. (May 26 report)

https://twitter.com/BitPopulous/status/1001831220047699968
https://twitter.com/CashaaLtd/status/1000066649750290432

Storiqa
Price currently up over 180%, being today’s top gainer and jumping to the top 100 coins.

This massive volume is coming from the Indonesian exchange Indodax.

Storiqa just released the beta version of their marketplace platform which allows buying and selling of goods with cryptocurrencies.

https://twitter.com/storiqa/status/1002118416071823360

Lympo
Bitfinex lists Lympo which will be available for trading with ETH, BTC and USDT.

https://twitter.com/Lympo_io/status/1002098120338100229

MediBloc
Sees price increase of over 10% with the upcoming new MEDX token airdrop after today’s snapshot @ 5:30pm UK time.

MEDX token will be airdropped to MED token holders in 1:1 ratio based on the snapshot taken of the Exchanges or QTUM core wallets.

https://twitter.com/_MediBloc/status/1002141610669305857
https://twitter.com/_MediBloc/status/1002077874722037761
https://medium.com/medibloc/ann-erc20-token-snapshot-time-and-distribution-method-d8a58497f0f6

Metal
Metal today’s special announcement, teased yesterday, was their first acquisition - Crumbs, a crypto-investing platform that allows users to set aside spare change from daily purchases and use it to create a digital assets portfolio.

Crumbs will continue to operate independently within Metal, and will launch with Metal Pay product this summer.

(Metal crumbs…)

https://blog.metalpay.com/big-announcement/

Oyster
Oyster Mainnet is now live.

And the price is currently up over 10%.

https://twitter.com/OysterProtocol/status/1002040992072065025

MyBit
Price plunges over 30%, down to rank below 980, after big run-up last week (over 50%).

No word yet on the “special announcement” or “big update” they have been teasing since last week, for today. (May 28 & 29 reports)

https://twitter.com/MyBit_DApp/status/1000036611869040640
https://twitter.com/MyBit_DApp/status/1001059265275187201

Introduction

FarmaTrust wants to be the system of choice for the pharmaceutical supply chain, by providing a global tracking platform that can record all activities from all points of the supply chain until the end consumer.

Problem
Up to 30% of all drugs in circulation are counterfeited which harms or kills millions of people worldwide.

Although less developed countries are more affected, these fraudulent drugs are now increasing in more developed countries through online networks.

Despite pharmaceutical industry efforts to increase drugs traceability, there’s limited legislative coordination across borders.

Also the current excess and fragmentation of today’s tracking systems in the pharmaceutical supply chain makes it easier for counterfeited products to be introduced without detection.

Solution
FarmaTrust solution it’s their Zoi information exchange platform.

Zoi will allow to securely verify and track products authenticity across all pharmaceutical supply chain industry (like manufactures and distributors), provide a reporting system for all entities (like governments, regulators, retailers and consumers), and also add services such predictive supplies and efficient routes.

One big advantage of Zoi is that, through their API interface, it will be able to integrate with the existing supply chain management systems, which will make the Zoi platform adoption easier without forcing or disrupting the whole supply chain to adapt to an entire new system.

Through Zoi and its API interface, the companies will benefit from reduced costs to meet track and trace regulatory compliance, and predictive systems, all with easy integration. Other entities will benefit from instant access to complete product history and authenticity, data transparency, financial / budget forecasting, among others. 
Team
The team currently consists of 8 members and 11 advisors.

A robust team where most members have high education and substantial experience in all relevant business sectors.

The Senior Software Developer is an Ethereum certified developer.

Crowdsale
The Whitelist registration is already open for the upcoming pre-sale June 1, offering a 20% discount. The main sale will start June 15 without any discount.

The total supply is 1B tokens where 60% (600M) are for the token sale. Both remaining sales have 100M tokens each available (200M total).

1 FFT token will be sold at $0.05 each, but during the upcoming pre-sale it will cost $0.04 each only. This puts FarmaTrust with a marketcap of 50M, just about rank 200.

If FarmaTrust reaches or surpasses the current VeChain top 20 marketcap of about 2B it could value 40 times more, with potential gains of 50x if bought during this pre-sale.

No word on Exchange listings yet.

Residents from United States or Singapore are not allowed.

Why Blockchain
The Zoi platform will be blockchain-base to provide secure, interoperable and immutable data when tracking products moving on the supply chain.

The API will coordinate data communication between the supply chain management systems and the Zoi blockchain, allowing data synchronization across different organisations systems.

It will feature smart contracts to automate some pharmaceutical processes, thus increasing efficiency.

Blockchain will also allow the FarmaTrust services to expand, in the future, into big data machine learning, allowing predictive supply level informations, thus reducing waste. Also the use of AI for route efficiency.

The FarmaTrust FTT (ERC20) tokens will be required to generate the ZOI tokens that pharmaceutical companies will need to generate a Compliance Tracking Token Smart Bond, which is a smart contract that binds the ZOI tokens to a new batch of serialized products to meet track and trace compliance.

The ZOI tokens can be generated through staking of the FTT tokens which can then be bought or sold through the Zoi Exchange. The ZOI tokens are burnt after usage.

Cons
Product
According to the roadmap, the minimal viable product (MVP) was demonstrated to interested parties in September 2017 and an extension of the MVP will be launched next month (June 2018).

Currently, besides a backend code, a frontend Zoi MVP and a consumer app video demo, there’s no actual way of checking or testing the product working which, according to the whitepaper, FarmaTrust has a functional Alpha product undergoing private testing, so no Github neither.
But hopefully the MVP will be release before the ICO end.

The Zoi platform is only projected for release in a year (Q2 2019).

Also some concerns with the whitepaper statement “ The scalability of Zoi platform is designed to handle millions of transactions using various techniques…”

Partners
No official statement on partnerships yet.

FarmTrust claims that is actively signing agreements and formal partnerships with international pharmaceutical companies, government and law enforcement organisations.

Competitors
There’s a lot of competitors in the supply chain sector like VeChain, WaltonChain and Modum.

Conclusion
Presentation: 4/5

• Decent website. Great media presence. Demos and interviews videos available.

• Short whitepaper lacking some technical details and business strategy.

Project: 3/5

• Legacy compatibility. ICO 20M hard cap.

• Lot of competitors. No MVP available yet. Product release Q2 2019. No partners yet.

Team: 5/5

• Solid team

Rating: 4/5

It’s sounds like a great project idea with a solid team but would recommend contacting Farmatrust and get to know more about their product (potential test it) before investing.