Delicia is an Estonian-based startup positioning itself at the nexus of two very big trends: blockchain and combating food waste, and the company is hosting an Initial Coin Offering (ICO) next month to raise funds to aid in the fight.
According to the Delicia website, the company uses the blockchain to create a global, decentralized platform for retailers like grocery and convenience stores to sell food that is nearing expiration to local buyers like restaurants or consumers.
The benefits of this, Delicia says, is that retailers can put food to use before it goes to waste. Additionally, the company says it will use artificial intelligence to analyze historical buying and selling patterns to create a more efficient supply chain — routing food where it should go and minimize surpluses that go to waste.
The idea of using blockchain for food is certainly not a new one. Lots of players like Ripe.io, Foodlogiq, and even Walmart are using the public ledger software to bring transparency and efficiency to the food supply chain.
Delicia’s roadmap says it will release a beta version in North America and Europe this December, with a production release in both those areas in December of 2019. Delicia joins other food-based ICOs including FeedChain and FoodCoin.
Delicia may be completely legitimate, but there are couple red flags on its site. One of the top “News & Blog” posts explains your chance to become a “Delicia millionaire” by participating in a viral campaign. Additionally, the company lists Buzzfeed under “Partners and Media,” but the link goes to a community post on Buzzfeed, where anyone can create a post.
Hopefully Delicia is legitimate as food waste is a huge problem. We have reached out to the company and will update as we hear more. If you’re in Seattle and interested in learning more about what’s being done to prevent food waste, come to our Food Waste Solutions meetup this month!