Periodic Reporting for period 1 - FOrLedger (A Blockchain-based Middleware Platform for Food Tracking Ledger Builder)
Période du rapport: 2019-04-01 au 2019-07-31
The objective of this feasibility assessment was to validate the technical, economical and commercial viability of FOrLedger, a platform that allow businesses to build blockchain-based software quickly with minimal coding, minimizing the need for extensive coding experience from developers’. The target market was agri-food supply chain businesses for tracking and certifying food product.
We analysed the market of food traceability applications based on blockchain technology, as well as our potential competitors, and found out that the competitive landscape changed with IBM releasing a novelty application for food traceability, called Food Trust Solution, and aiming to become a standard on the market, involving the most amount of food supply chain. For instance, Walmart announced the mandatory use of the IBM solution for all its food providers in 2021. Considering this new scenario, we have concluded to move our solution to a different and innovative domain: Lifecycle of real state and the use of Building Information Modeling (BIM) for its management.
FOrLedger will provide a software solution, as well as a development ecosystem and Distributed Ledger services, that allows SMEs to easily build blockchain applications adapted to their particular needs at lower cost and with minimal coding, minimizing the need for extensive coding experience, democratizing the use of blockchain along the BIM industry. At the moment there are other companies with a similar idea but less functionalities and much lower TRL that Open Canarias, therefore we count with the first mover competitive advantage