Trade Pharma Network: The Story So Far
Our Trade Pharma journey started nearly a year ago. You will have noticed that the Trade Pharma model has changed since the original launch.
Behind the scenes we have been working incredibly hard to explore funding directions that allow broader participation, including the possibility of running an ICO. The challenge, of course, is that the regulatory environment has become more difficult after the fundraising frenzy of 2017, with many of those raising funds via ICOs recently receiving subpoenas. This means that missteps can have serious consequences.
Routing to the same destination through a different path
Trade Pharma Network project aims to deliver pharma-centric services to pharmaceutical industry and healthcare organizations, mainly the trading of medicines and the supply chain management, that can provide tremendous utility, encompasses years of work and is supported by a brilliant growing team. There is simply too much at stake to risk.
The lowdown is that it is impractical for us to run an ICO right now, even though we have been exploring every avenue possible.
As a consequence, raising funds by running a traditional ICO is not in the best interests of the project, even though we would very much like to please the crowd and run one.
Under the original Trade Pharma Network model, the token was the primary driver of the marketplace and now it is the other way around: the marketplace is being the primary driver and the token being merely a representation of value in the marketplace.
Our dual-token model
As a Blockchain-based marketplace, it is important to mention that we are leveraging the benefits that are inherent in both types of tokens, Utility (TXP) tokens and Security (TPN) tokens.
Indeed, by creating this dual-token structure, whereby the tokens are linked in a way that enables stakeholders to participate in the growth of the Trade Pharma Blockchain ecosystem.
Both TPN & TXP are ERC20 Tokens built using the established Ethereum Blockchain. Only TPN Tokens (Howey Test compliant), are capable of being traded in external exchanges.
TXP Tokens for our valued users
TXP Tokens have been made available recently and are used as Loyalty/Utility Tokens that are sold at a fixed price and can be tracked in the Blockchain in full transparency.
Chosen Release Strategy
We have come to believe that users will be best served by the earliest possible release of an MVP version of the full marketplace.
We have come to believe that users will be best served by the earliest possible release of an MVP version of the full marketplace. ZEFIR™ version 1.0 of our Blockchain-based platform dedicated to B2B pharmaceutical trade is now available and ready to use. The dApp is powered by Origin Protocol’s MIT Licensed platform. We are currently using the Mainnet Beta but much more developments within this ecosystem will be easier for us once the use of Origin’s software framework is fully optimized (Q3–2019).
Our progress towards the ZEFIR™ dApp is of course only part of the story. Many other interesting releases related to our Trade Pharma Network marketplace will be done this year.
Charity & Philanthropy
We also firmly believe we have a social responsibility to redistribute to the less fortunate, particularly where a profitable outcome has been achieved on pharma transactions. Charitable giving is therefore built into the Trade Pharma return model. 3% of all profits realized by the Trade Pharma Network will be reserved for charitable giving.
The Trade Pharma Foundation
We have also founded beginning of 2019 The Trade Pharma Foundation & its Impact Fund in the form of a Donor-Advised Fund, one of the most powerful vehicle in philanthropy, to support more efficiently the drug counterfeiting through Trade Pharma Network as well as the United Nations SDGs philanthropic giving & of the World Health Organization Global Action Plan to leverage the enormous reach, experience and expertise of the global health community to accelerate progress towards SDG3. It actually supports directly SDG3 and contributes to the SDG9, SDG10, and SDG17.
Wrapping up
Our Investor Relations & Private Sales related information are not public anymore. In other words, regardless of the jurisdiction, we are not going to launch any crowd-sale and we deal with qualified investors only. And we like to think of these changes as an improvement.
Also, exciting things are happening both with respect to the kind of projects being pursued as mentioned above, with pharma & healthcare and non-profit organizations now coalescing around the Trade Pharma Network vision.
I am looking forward to keeping you updated.
Finally, I would like to thank everyone for their interest in the project and their patience as we continue to strive toward our shared goals. I also would like to thank our ecosystem and supporters, and most importantly of all the Trade Pharma Network team, without whom the talk of a pharma-centric marketplace would only remain pharma & tech talk.
#Marketplace #Trading #Medicines #Pharma #ArtificialIntelligence #Blockchain #IoT #3Dprinting #Business40
Tyler I. Sainkoudje
Trade Pharma Network — Founder & CEO
