FTI Foodtech International Inc. (TSX-V:FTI) is aiming to connect conventional industry practices with new technology applications.
FTI Foodtech is into blockchain. Its history originates from innovating on technology transfer. In saying that, the management team of FTI has identified that the next phase of evolution within the food industry revolves around the blockchain, so they decided to fit blockchain and cryptocoin technologies that are out there into the food industry.
You might be wondering why the food industry would be interested in adding the blockchain to its existing process. Well, today recalls tend to be a constant nightmare for consumers and companies due to its antiquated practices. When a recall takes place, you can’t buy that specific product from that company again until the problem is solved. To solve the problem, companies and regulators must find where the problem arose before that product can be sold again. Clearly, it has a massive commercial impact.
This is where the blockchain comes into play. That entire process can be traceable through open source technology such as the blockchain.
FTI Foodtech is striving to improve the efficiency of which food is recalled and managed within the food distribution chain such as supermarkets.
Currently, FTI Foodtech is building a solid support staff centered around Chris Kitze who has taken a consulting role with the company. Chris is one of the co-founders of a company called Xoom, and Xoom became Paypal. He is clearly one of technologies thought leaders and judging by his latest ventures; he is very knowledgeable in blockchain and cryptocurrencies.
FTI signed a contract with him and his team and have obtained the Safe Cash blockchain. Others can use the Safe Cash blockchain, but with their support the team at FTI can seamlessly implement the technology for the food and barter industry.
Chief Executive Officer and Founder of FTI William Hullah has recently stated in an interview that he has been in talks with both American and Canadian companies with regards to implementation.
Currently, FTI is seeking potential investors to participate in the company’s latest $.50 private placement. (For more information, click here)
It’s worth noting, that the company is currently in the process of acquiring a cryptocurrency developed by Chris Kitze called Flashcoin. They have accumulated 2 million coins so far with the target of 50 million over the next short period of time. As Mr. Hullah has said, the hopes are for the price to elevate.
For more information, please watch the video below and you can visit the company’s website at http://fti-foodtech.com.
FTI Foodtech is a paid client of Gold Telegraph.