Are you worried about the quality of the food that you eat? If you are, you are not the only one and an interesting company that we will review today, ECOS, is looking to use the blockchain technology to create a control center for food.
What is ECOS?
ECOS is a company which has a novel idea, to use the possibilities offered by the blockchain technology to create a decentralized software that will be used on the inspection and in the quality control process of the food that you consume.
The main goal of the system created by ECOS is to prevent illegal trafficking of food and life-threatening products. This will be made by making the transaction of these products via the blockchain technology, which you can use to be 100% sure that the product that you are buying is legitimate.
ECOS is going to solve the problem of sometimes not being completely sure if something has still not reached its expiration date and if the product is really safe to eat. This will help people to increase the quality of their life.
This company was created by Aleksei Zeleznak (CEO), which has been in the food and technology business for a while.
How Does ECOS Work?
You will be able to access the ECOS blockchain whenever you want to check if some product that you want to buy is really reliable. Information like if the product has followed the sanitary norms or the expiration date will be available. You will be able to check by using your smartphone on a code that will come with the product.
You may be able to check for basic information about how nutritious that food is or for detailed information about the product. For this to work, the company which has produced the food that you are about to buy has to register with ECOS.
The company wants to be the first company in the world to use this type of service and to start a trend in which the food is regulated by companies like it.
The project has already gotten more than 3 million USD of investments so far but is currently planning an Initial Coin Offering (ICO) to get the rest of the money needed for such a big enterprise as it will be to create this platform.
The ECOS tokens will be used to pay anything that requires a payment inside the ECOS ecosystem. As the tokens are ERC20 based on the Ethereum blockchain, every transaction will be made via smart contracts. The tokens can be used to pay for premium features in the service (but not for food as the plan is not to sell food via the ECOS app). Also, the API of the service will be free.
How to Invest in ECOS ICO?
If you are interested in investing in ECOS, you can always buy the ECOS tokens during the ICO. The price of the tokens vary. During the pre-ICO, the price will have a bonus of 25% that will decrease with time. The sale begins on February 4 and it will last until March 19.
700,000 ECOS tokens were created and 60% of them will be sold during the pre-ICO and the main sale. Because of this, any unsold token will be burned.
The ECOS ICO Verdict
Is the ECOS system the best investment that you can make right now? We are not necessarily sure if it is the better, but it can certainly be a great one if you plan to use the platform. You will be able to access the premium features of ECOS paying a lot less if you decide to buy the tokens right now.
In case you are only in it for the profit, there are better options than this company, but it is still a pretty viable option for you, which is great. In the end, you have to weight whether you want to invest in this company or if you think that you should look somewhere else.