GroceryX is a digital peer2peer platform that allows for a local system of food distribution. Think of Craigslist for food.
FOOD Tokens are ERC20 standard Ethereum tokens that will be used to transact between two accounts. If you don't know what Ethereum Tokens are, you can read more here.
Yes! In the U.S every state has its own laws for what can be sold without a license. GroceryX requires every poster on our platform follow their local state laws and regulations. In most states, vegetables and produce can be sold with little oversight. It does depend on state though. The main problem is the liability of processing transactions for a company that hosts a platform of peer2peer food distribution. We don't have this issue when our payment process is Ethereum.
We will not allow for any food that cannot be sold legally to be posted, this includes things like meat, pickled products, fermented foods, etc.
FOOD tokens can be purchased from the GroceryX website directly with credit card. Otherwise, FOOD tokens will be trading on exchanges a few weeks after our crowd sale.
850 million food tokens have been created. 400 million in the Stipend Fund, 300 million in the Business Fund and 150 million to sell in crowd sales.
The FOOD stipend is a way for GroceryX to help give back to our community. Every month, each account will be credited with a small amount of free tokens.These free FOOD tokens are to help start growing the GroceryX eco-system, and help give back to the communities. Every user will have a set amount of monthly allowance given to them for food (taken from the FOOD stipend pool of 400 million FOOD). The plan is to use the stipend to help gain media attention that will allow us to grow our user base.
Please read the whitepaper here