Blockchain based traceability service for agricultural product.
We have over 70 enterprises using our service including KPMG and Vietnamese Government.
We focus on 3 types of market in Vietnam. One is small individual farmers which will be mostly local market. We do not charge them directly but we make platform for wholesaler market in each provinces which farmers sell their product and we apply our service but charge retailers in the ecosystem. Second is exporting market. We work with Ministry of Science and Technology to apply our service to all of the black peppers which will be exported from Vietnam. We are trying to apply same model to other agricultural products. Third is the enterprises in Vietnam. We will organize marketing team and reach them individually.
Problem or Opportunity
There are still many food poisoning and fake products in Vietnamese market. Over 7 million products are using our service to prove its safety in Vietnam now.
Solution (product or service)
A software solution for traceability and value chain management based on Blockchain technology. Agridential aims to businesses that focus on building and protecting brands based on providing transparent and reliable information of products to consumers.
Since we are the only officially licensed blockchain traceability service company in Vietnam so we can say that there are no direct competitors so far in Vietnam.
Advantages or differentiators
We are the only company who have experience and knowledge in both blockchain and supply chain of Vietnamese market.
We charge by individual development and fee for the QR codes are depending on the price of product so we do not set up specific price for our service. We have made revenue of 450k USD in 2020 and will make 1m USD revenue in 2021. Our goal is to reach 15m USD revenue in 2025.
Our models are different in 3 models we are approaching. For the wholesaler market, we charge the development fee for the organizer of the wholesaler market and charge license fee for the retailers. For the exporting goods we will charge several percentages of the product fee since the product fee is higher than local products. For the enterprise case, we charge the development fee and negotiate for the continues fee in each cases.
Money will be spent on
Money will be spent on hiring engineers to develop projects and organizing marketing team.
We think there will be new competitors from other country or Vietnam. But it takes long time for foreign country to get license in Vietnam or get enough knowledge for new Vietnamese company to start. That is why we want to expand our share in the market in 2021 and 2022.