What is the utility of TFD?

In order to use the FoodChain’s decentralized traceability ledger, supply chain companies (or implementation partners) have to obtain the appropriate number of software licences. TFD is a tokenized software licence, based on Ethereum’s ERC20 standard.

The utility of the tokenized licence is to provide eligibility for a certain number of transactions to be sent to the FoodChain. A tracking transaction involves the storage of data in the blockchain, allowing for tracking or further processing. By means of the transaction, data are retrieved or a tracking transaction is executed, i.e. a data set is written in the blockchain (read or write access executed).

The FoodChain can only be used with a valid licence, either held in the ERC20 compatible wallet of the customer, (or the implementation partner), or rented from licence providers (called Iridium nodes).