Greek Food Corridors E-auction

Greek Food Corridors are the next e-auction infrastructure in Greece for fruits, vegetables and olive oil, synchronized with a commodity exchange market for future contracts based on fiat and crypto currency as well.

The Mediterranean kitchen in well known and worldwide appreciated.Traditional Greek food harmonically combines taste with high nutritional value. Many people know and appreciate the value of the Greek fruits, vegetables, and let’s not forget about the olive oil.

Grown under the ideal climate conditions of the Mediterranean, Greek food products have been distinguished by their excellence in quality and have thus reinforced international esteem for traditional Greek food and cooking. But when it comes to the producers, the ones that work so hard, in order for us to benefit from these natural healthy treasures, the things are not so simple. From the farmers to the consumers it’s a long way, and very often the producer’s efforts are not remunerated accordingly.

The work of an e-auction is to help producers at different levels: pricing, organization, promotion, certification, standardization, storage, transportation, etc.

Greek Food Corridors are the next e-auction infrastructure in Greece for fruits, vegetables and olive oil, synchronized with a commodity exchange market for future contracts based on fiat and crypto currency as well.

The problem

In the present, the Greek agricultural sector has many problems: from the low income of producers, to 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, the information asymmetry between farmer and trader, which often outweighs the price five times without providing substantial services, low sales speed for the farmers’ productsand the small and inefficient organization and coordination of growers cooperatives and farmers.

The solution

GFC elaborated a complex project involving the creation of the GFC e-auction platform, which will be a huge step to empower Greek farmers. It will be a platform for fruits, vegetables and olive oil and it will be in a network with the production and consumption sites to enable farmers and growers to sell their products in a coordinated and fair manner. The project, in it’s first phase will also deal with aspects concerning: cross-docking centers for implementation and operation, the spot market with the production, logistics and processing centers, the e-auction, the physical delivery, the price index mechanism, and clearing and settlement.

The price for producers and consumers will be improved 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. Traders will bid online from anywhere in the world. At the same time the product flow will be secured and the farmers and farmers’ associations will have a fair price for their products. This will lead to “scientific” price discovery by farmers themselves, breaking the hold of middlemen. The GFC e-auction platform will remove numerous intermediaries and the information asymmetry between farmer and trader, which often outweighs the price five times without providing substantial services.  It will offer greater access to international offers and detail market information, will create remote bidding and Virtual sale (Virtual Auction).  The GFC e-auction platform will also ensure the integration and application of Finance Invoice ensuring to the sellers on the platform daily clearing of transactions. The back office software makes the necessary finalization of the transactions, follow-up of invoices, payments, statisticalreports, etc.

Greek Food Corridors

GFC elaborated a complex project involving the creation of the GFC e-auction platform, which will be a huge step to empower Greek farmers. It will be a platform for fruits, vegetables and olive oil and it will be in a network with the production and consumption sites to enable farmers and growers to sell their products in a coordinated and fair manner.

The innovation

The aim of the project is to achieve the automation of the Agricultural Greek market through a modern electronic Trading infrastructure export-oriented at European standards, by organizing and coordinating the market and creating transparency, speed and trust.

The auction clock is an instrument that will find the correct market price. A price discovery mechanism based on actual demand (on the trading board are set a reference price, a limit up price and a limit down price. This agricultural-commodity marketing channel is new in Greece and can bring many positive changes when operational.

The token

The token/ticker name will be GFC. 1GFC=0,00025 ETH

50 Million GFC Tokens are for sale. The Hard Cap is 25.000.000 and there is no soft cap. The token type is ERC 20 standard base Etherium Token.

Contributors can purchase GFC by sending ETH to the address: 0x4c2e198CF5Ee4Ca4d6e9e0C1B2b954f9101c7FC1.

GFC is continuing its ICO offering period for the month of June while offering a special 50% discount to their contributors!

The team

Behind this promising project we find a very experienced and dedicated team, composed of international experts. As Dimitri Haritos, the President and CEO of Greek Food Corridors declared in an interview for coininfo.news, “To be a good ICO, you need a good Team. The GFC project is surrounded by a highly experienced team and advisors with special expertise in Business Strategy, blockchain and project development, and with extensive experience in the European market for electronic auctions and supply chains as well as exchange commodity trade. We have expertise from both the public and private sector with 30 years of experience.”

Conclusion

GFC National Agri-food e-auction platform is a unique initiative established in Greece. A big advantage of the new infrastructure, especially for the small and medium-sized farmer’s cooperatives and Group of Producers, is the fact that they will be able to negotiate directly with buyers, both at a national and international level, under the same conditions as larger companies. The new platform will facilitate the task of finding buyers or sellers to negotiate simultaneously and in real time on the trading screen. The members will be able to benefit from economies of scale as well as marketing and from direct access to International markets.

Greek Food Corridors are the next e-auction infrastructure in Greece for fruits

It will be a platform for fruits, vegetables and olive oil and it will be in a network with the production and consumption sites to enable farmers and growers to sell their products in a coordinated and fair manner.

For further information about this innovative idea, you can visit their website and read the White Paper, where is included the detailed project.

Comments

comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here