Based on Ethereum (ETH) technology, GroceryX relies on the ERC20 token model for users to order food online and have it delivered — or ready for pickup — directly from farm to table. While growers will enjoy access to new distribution channels, buyers can use the app to purchase on-demand food for any diet. Prices will be displayed in FOOD tokens and USD.
GroceryX founder Zachary Burks confirmed that 850 million total tokens will be created for the platform, 10 million of which will be sold during the initial Presale scheduled for July 29. (0.001 ETH is equivalent to 1 FOOD token.) The objective of the Presale is to raise $2 million in token sales, or a minimum of $250K, based on ETH/USD exchange rates.
The benefits of the GroceryX platform are manifold. The startup will significantly reduce fossil fuel emissions in the agricultural industry, and minimize auxiliary costs such as brokerage fees. It will not rely on massive transport chains or corporate practices that waste billions of tons of food each year.
Among the greatest advantages of the platform are the ways it will localize food distribution and encourage healthy eating. Consumers can use the app to purchase a homemade pie from the woman down the street, and that same day log onto
GroceryX to sell produce from their garden. In short, GroceryX will allow users to access fresh food right in their neighborhood.
The process is simple. Local food growers, including farmers, can register and set up special shops to feature their produce on GroceryX. All accounts are verified and can be rated to promote safety, ease of use, and quality control.
The Presale will take place over 31 days, or until the limit is reached. For more information on GroceryX, please visit http://www.groceryx.io, or contact GroceryX at press(at)groceryx(dot)io