we hosted an amazing AMA with Authentium on the 17th of September
And here we will put some of the best questions:
Q1. Can you introduce yourself to our community?
Hi everyone and thanks for allowing me this opportunity and I am very grateful to be here to share our future vision for #Farmers around the world.
So firstly a little about me….my name is Phil Talbot, Founder and CEO of #Authentium. Originally born in New Zealand, I come from a multi-generational farming family and I am acutely aware of the financial issues facing farmers around the world.
I am a visionary, a serial entrepreneur and accomplished business executive having founded multiple successful start-ups as well as having worked in large multinational corporations over the last 35 years in both the hardware and software industries.
I’m currently the CEO and Founder of #SAAVI, a market leading Australian foodservice mobile ordering platform and I am now embarking on my latest start-up venture called #Authentium.
Q2. Can you briefly tell us what is Authentium ?
So….what is #Authentium? #Authentium was conceived in November 2017 as an innovative blockchain-governed decentralised food supply chain ecosystem that solely focuses on helping the farmer get a better price for their produce.
We do that through a unique multi-layer blockchain protocol that has been jointly designed by me and 5 economic professors from world leading Royal Melbourne Institute of Technology (RMIT).
We have built all our platform on the world leading Algorand Blockchain.
It’s a very personal project that I have been working on for nearly 4 years and we have been quietly working on building out the protocols, apps and global partnerships for our solution to be deployed around the world in both developing and developed agricultural-based countries.
Q3. Let’s now talk about the milestones you have achieved so far and about your upcoming plans?
Our first major milestone was back in February 2018 where we spent a year designing our system and then we were granted by IP Australia a Proof of Delivery patent
Several months later we then worked with RMIT here in Melbourne on a ground-breaking token economic model and worked with 5 economic professors and post grad PHDs to economically design the Authentium system
In September 2019 I was fortunate enough to meet Silvio Micali – founder of Algorand
Then in September 2020 we were one of 10 companies selected for the Encode UK Algorand blockchain hackathon. We were the top finalist in that group.
Then in 10 weeks we built our MVP on Algorand and completed that by November 2020
We then applied to the Algorand Foundation and received a significant Algorand Foundation grant to develop an open source Authentium applications for developers
Now we have finished our commercial product and have global trials with 3 primary producers in Colombia, Nigeria and Ghana in Africa to help these farmers.
Q4. Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?
So Authentium is about bringing back authenticity and farmer visibility to our food supply chains. So often we have no idea who produces or grows our fruit and vegetables. Do you know where your food comes from? Authentium does. We are providing free simple to use mobile phones for farmers to now sell their produce directly to buyers around the world and provide the logistics to do that.
My personal story as founder our story is that my grandmother and mother were dairy farmers from New Zealand where I grew up. Whilst I did not continue on the farm, I really felt that farmers around the world are being exploited and taken advantage of economically as in some case by bullying and force.
So Authentium is a personal journey to liberate farmers from these old world centralised food supply chains and create the next generation of web 3 food supply chains that are decentralised and removes middlemen who take all the farmers profits.
Q5. DeFi is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on DeFi with us? Do you think DeFi will disrupt the current financial system? What is Authentium’s approach to the DeFi sector?
I think DeFi is one of those technologies that in 20 years’ time will transform the world. I believe and Authentium believes that Algorand, Authentium and our DEFI applications will transform the way food gets produced and delivered, whilst also bringing much needed transparency to food supply chains around the world.
Authentium is approaching the DEFI sector very differently because we operate both in the real world and the crypto world. We are currently designing the worlds first ever primary producer exchange (DEX) and will also be creating a logistics DAO and governance system like never seen before.
And here we will put best questions from our members and Authentium fans:
Q1.You have several partnership with a Huge companies like Algorand Foundation, SAAVI, AIKON, Etc. How is the contribution from them to authentium platform in terms of infrastructure, ideas or technology? And which kind of partnerships you will be alliance in future?
Each of our partners bring unique value to the Authentium ecosystem. SAAVI is our technical partner making sure that the Authentium community gets the best experience on all fronts be it interface, experience, or design. Algorand Foundation has bestowed us with a community that truly believes in the revolution we aspire to bring.
As for all future partnerships, all we have kept as a filter is the intention to support the agriculture industry and help revolutionize it.
Q2.As i entered your website,what welcomed me was a button for early subscription to the platform.This made me wonder about the incentives for the early adopters of the platform.Can u elaborate on the rewards and benefits for early contributors of the platform?
Well, early contributors will have the opportunity to build out their DASCO and get a kick start in the eventual revolution we are bringing. Imagine, if you had a chance to create the first community on Reddit, wouldn’t it be exciting to be athe biggest in that ecosystem. Thats primarily what our early adopters will have a chance to do.
Q3.I read that #Authentium has completed the implementation of the Proof of Delivery (POD) infrastructure layer. Can you tell us more about this? What are the benefits of this layer for your project as well as the users of your platform?
Proof of Delivery is kind of our crown jewel. It makes sure that the Authentium ecosystem actually turns into a network that has transfer of information and value. With POD, we make sure that appropriate information is stored on the immutable ledger of Blockchain and a transparent ecosystem is maintained.
Q4.I think many people here are quite interested in the $ATHM, both utility & structure. how does $ATHM work as a utility token for the network. how does it benefit for both the network & the owner. Is there any reward mechanism for holding $ATHM? What are the benefits of Holding?
AUTH is the fuel that runs the network. With AUTH, seamless financial activities can be experienced by the users including buying and selling of goods and services. By creating a completely digital and decentralized economy, a fair and trustless network is achieved that ensures that intermediaries are removed.
Q5.What was the flaws/problems you saw in the traditional food market industry that you have initiated and created the idea of Authentium? Can you list all possible problems you saw and plans to solve?
Supply chain networks are highly complex. They may represent a very simple process of ensuring that the goods get to the customer, but the efficiency of a supply chain is a different story.
Even a simple supply chain network consists of at least a producer, supplier, transporter, seller, and warehouse company, and that too for just one product. Multiple products require multiple entities and all interactions between these entities have to be standardized.
Authentium introduces a different perspective in the agriculture supply chain industry with its unique Blockchain-based approach. We love our farmers and THEY DESERVE BETTER!
Q6.Authentium concept to combine blockchain and food industry is really innovative and unique, I believe you already doing some research before build this project. What issue do you think that food industry have for now? What solution that Authentium can give to solve that issue?
Main issue is that farmers get paid the least mount and deserve more
Authentium solves this by helping the farmer raise his profile and attract buyers to deal directly with them allowing them to make a lot more $$$
Q7.What are the benefits of taking part in your project ecosystem? I am an investor. Do you have liquidity mining or single side staking after launch?
The main benefit is in the long term you make great yields from farming $AUTH plus also donate say 5% of your yield to farmers as a grant for more fertilisers. We call is social impact conscious staking
Q8.Is your Project a local and a global project. How many People do you have for non english user? Can anyone uses your services from anywhere in the world.Is there are any restrictions of using your service?
Our project is global, both developing and developed countries. We have more than 50% of our people do not speak english
There are no restrictions to using our service
It’s free and everybody wins
Q9.How do you plan to promote renewable sources of energy and what are your plans of expansion
and do you have a detailed roadmap to detail the same?
By definition, Authentium is a carbon neutral DAPP on the Algorand blockchain.. So we are better than almost all other blockchains. Furthermore, we plan to expand our offering for bio deisel generated from waste. It will also produce electricity top fuel 100 homes. All in a 40ft shipping container
We will revolutionize rural farming community in developing nations
And this was the end of our AMA with Authentium.
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- https://authentium.io/
Facebook :- https://www.facebook.com/authentium
Twitter :- https://twitter.com/Authentium_IO