1/ Who’s behind the FEED SYSTEM project? Can you please introduce yourself and the core team?
I used to work in the hospitality industry for more than 10 years, then in some leading companies of liquor distribution in Europe and the world. We have built several companies since 2014. We are interested in blockchain technology and the use of crypto currencies in several industries. We thought about the FEED SYSTEM project in 2020 and started to develop the application and POC in early 2021. Our crypto FEEDTK was launched in June 2021 on the Stellar Blockchain.
We are 6 at the moment in the core team. I’m managing the commercial side and relation with exchanges, and supervising the development of our software FEED SYSTEM. Audrey, my wife and partner of the company, is managing all the marketing aspects. She used to work in several big companies such as Rösle (kitchen utensils) and the Bacardi Martini group for several years.
Matt is in charge of leading the ambassadors through incentives and activities, and he is currently working on the implementation of our NFT project that will be launched in early 2022. He worked for more than 10 years as commercial manager of private markets in the office automation industry. He has been involved in crypto currencies since 2012.
Florian joined the team this summer and is in charge of global business development. He has strong experience in the hospitality industry. He is also very well versed in cryptos and he’s currently a miner of ETH.
Michael and Jean-François are digital & community manager and creative director respectively.
We are currently looking to hire a developer in blockchain technology with a specification in cross-chain. We are also looking for an international PR.
2/ Can you describe the FEED SYSTEM purpose and projects in a few words?
FEED SYSTEM is a company that aims to implement the maximum blockchain technology in the hospitality industry (bars, hotels and restaurants). We are creating an application that will help connect the 4 pillars of this industry: consumers, suppliers, venues and workers of this industry. It will be a booking platform, like Booking.com, except that we’ll be able to book bars and restaurants too. Consumers will be able to pay in cryptos, FIAT or FEED COIN, the internal token that we’ll create in the application and that will rule all financial transactions. This token will be a stable coin backed by the USD.
Please do not confuse FEEDTK and FEED COIN. FEEDTK is the tradable cryptocurrency that is fluctuating according to market movement, FEED COIN will be the stable internal coin that will only be used in the FEED SYSTEM application.
3/ What would interest users to use FEED SYSTEM more than any other booking service? Please clarify advantages for each kind of user.
As mentioned before, we aim to connect all actors of this industry in the same software. For example, the hotel will be able to pay their employees’ bonuses or part of their salary with the internal coin (FEED COIN), or they will be able to pay their suppliers with this internal token. They will also be able to manage their accounting through a triple entry system that will simplify the accounting process.
A fish supplier, for example, would be able to sell any product to the venues under FEED SYSTEM. They will need to fill all specifications that our system will ask such as: the date of fishing, at which date the reseller bought it, a certification showing the origin of the product, etc, everything that will increase transparency, security and efficiency. This will allow the hotels, bars and restaurants to provide specific information to their customers, which will increase confidence in what they are eating/drinking.
Workers will be able to be paid in FEED COIN directly on their internal wallet and will be able to spend it during their days off in other bars, hotels or restaurants. We also developed a tool that will help workers to find a job more easily. A search engine will help workers find a job and allow them to apply for a job directly on the app, chat with the venue, have video conferences and even electronically sign a contract. This contract will be certified and protected by using blockchain technology.
Consumers will have the possibility to reserve, pay their reservations in FIAT/cryptos or FEED COIN. They will also take advantage of an advanced loyalty program that will allow them to farm their FEED COIN, gaining a bonus in FEED COIN when they create an account to make their first deposit in their wallet.
I tried to be brief, but of course, many more possibilities will be available.
4/ What kind of other significant benefits will FEED SYSTEM propose?
In the short to middle term, FEED SYSTEM will be able to secure real estate transactions, propose a search engine service that will help professionals to buy and sell second-hand furniture and offer a cash flow advance that will help professional users to manage their cash flows properly. Essentially, many things that will make life easier for all users.
5/ Why do you want to create a stable coin in your software? Why not just simply use existing stable coins?
We want to attract regular money (FIAT) in the hospitality industry. Thanks to all the loyalty advantages, staking programs and regular bonuses, we are looking to push people to keep their FEED COIN in their wallet, as they will find the interest to be a lot more appealing than any bank proposal for a while. The main purpose of this is to suggest to all actors of this industry that are making profit such as bars, hotels, suppliers to reinvest their profit in the development of the industry. A kind of perpetually growing industry feeding on its own profit. This is why we call this project FEED SYSTEM.
6/ How do you plan on launching this application/software?
We had two possible ways: either raising hundreds of millions of dollars to build a marketing team, a sales team, a customer service team, etc… Or working with well-established hotel groups and using their strengths and networks to run BETA tests, and subsequently, thanks to their existing network, implement FEED SYSTEM on a global scale.
7/ With how much software is available on the market, how is your project a real game changer?
Do you know about the SAP software package? We want to be the same, but dedicated to the hospitality industry. An all-in-one system that will connect every actor of the industry in one system. The blockchain technology will help to bring more transparency, security and reliability. Our stable internal token will rule all financial transactions.
8/ Concerning the crypto that you are listing on HOTBIT tomorrow, can you provide us an overview of this token? Any function of this token at the moment ?
FEED TOKEN (FEEDTK) was created in June 2021 on the Stellar Blockchain. We have, of course, a limited supply:
– 400 million tokens reserved for the community
– 250 million tokens as reserve funds to invest in new projects
– 150 million tokens reserved for the marketing activities and rewards on the exchanges
– 110 million tokens for the team, founders and advisors
– 90 million tokens to be burned until the end 2021 (5 million per week since September until the last Monday of December)
We did that to create a deflationary process and bring more scarcity in our crypto.
We aim to be listed on HOTBIT and one other exchange at least before the end of the year.
Even if we are a young cryptocurrency, we already have a purpose. We created our project on the Stellar Blockchain because of one main thing: they specialize in cross-border payments with almost no fees per transaction. Thanks to the LOBSTR wallet, we have the possibility to pay and be paid by FEEDTOKEN through QR codes. On the LOBSTR wallet, we can generate a QR code to pay and a QR code reading system integrated in the app to offer the possibility to handle transactions with any cryptos hosted on this wallet.
For example, we plan to launch an event called CRYPTO x COCKTAIL. This networking event will provide all invited guests with some FEEDTK, giving them the opportunity to pay for their drinks using this crypto at the bar. At the same time, this will be a nice networking place since all the people coming will be already involved in the crypto movement as they will have to hold FEEDTK.
Thanks to this initiative, we’ll show people that this is as easy as paying with a traditional credit card. It will also be a nice way to prove the work of our crypto.
So, all holders will be able to pay in their favorite place with FEEDTOKEN in the middle to long term.
9/ Why did you decide to build your project and crypto on the Stellar Blockchain, knowing that it is not the most popular blockchain for new projects at the moment?
We have a long-term view on the FEED SYSTEM project. We aim to attract at least 70% of the global hospitality industry turnover within 5 years, so we needed to have a safe, cheap and scalable network/blockchain to start.
Stellar was created to transfer money worldwide at (almost) no cost. Stellar is a system without a central authority—meaning no one can stop the network or secretly adjust the numbers to his liking—yet even without a central authority, the ledgers are verified and updated every five seconds. A unique algorithm, called the Stellar Consensus Protocol (SCP), keeps everything in sync.
As the hospitality industry today represents several billions of dollars each year, building our project focusing on international money transfer was a pillar of our choice.
We also know that major regulations are coming under the frame of ISO 20022 and the International Money Laundering Protection, building a project turned toward the future was essential for us.
10/ What do you want to say to all the people that are currently listening to you to convince them to follow your project?
I want to say that we are the first crypto 100% dedicated to the hospitality industry with a clear purpose to be a game changer in 2023. I would tell the people who want to invest to first do their own research, and if they decide to invest, to consider us as a middle/long term project. Our fundamentals are really strong, the project is innovative and the experience of the team and advisors is really significant. We know the hospitality industry as much as crypto and blockchain, and are pretty sure that this industry is ready to move forward and conciliate the new technology with the legacy. The society is evolving so fast and not implementing our system in the hospitality industry would be missing a huge momentum.