TrustBIX Inc. is pleased to announce that the Corporation began trading on the TSX Venture Exchange (“TSXV) under the ticker symbol “TBIX”, today. Hubert Lau, President, said “We are so excited to have been accepted as part of the TSX Venture Exchange group of listed companies.
“Traceability in food production is defined as tracing food through the production and distribution chain to identify risks, protect public health, address acceptable limits in the production of food, and assist in maintaining the quality and safety of products. Traceability is a way of responding to potential risks that can arise in food thereby ensuring that all food products are safe for the public to eat. It is vital that when national authorities or food businesses identify a risk, they can trace it back to its source to identify and isolate the problem, preventing contaminated food products from reaching consumers.
“We are working hard with our many industry partners to be part of the sustainable solutions for the planet, to be able to feed the estimated 9 billion people by 2050. It all starts here, in Canada, at the TSXV with a company out of Edmonton, Alberta.”
TrustBIX Inc’s mission is to address consumer demands and become the most trusted and largest source of third-party food traceability and sustainability globally – Gate to Plate®. TrustBIX plans to deliver on this mission through a combination of cloud platform software and distributed ledger technologies combined with a novel business model that flows data from producers to retailers while flowing financial incentives back from retailers to producers.
The AgriFood Industry is estimated to be a $5 trillion dollar industry globally, and by 2050, humanity will need to find a way to feed the estimated 2 billion more people despite stress on our global climate and resources.
Globally, consumers are demanding food safety, social responsibility and environmental sustainability. People are demanding, and have a right to know, what they are eating and where it comes from. This demand can be addressed through full food supply chain traceability. However, adoption is slow because:
1. Producers (farmers & ranchers) are not incentivized to participate and adopt traceability. They have to do more work but receive no tangible benefits.
2. Governments can use regulations to force producers to participate. However, they must consider political push back and the cost of enforcement.
TrustBIX has a track record of creating Incentive Solutions to encourage collaboration and participation through the whole supply chain. TrustBIX’s web-based data exchange platform, BIXS, has the ability to integrate both existing and new industry software for supply chain traceability, while protecting data security and individual privacy.
Each Incentive Solution addresses one or more needs, but each has its own business model and revenue stream. As payments flow through the BIX system, TrustBIX will collect transaction fees. The more products being processed, the more revenue streams are generated for both upstream industry participants as well as for TrustBIX.
More information on TrustBIX Inc. can be found on our website www.trustbix.com
Media Contact
Company Name: TrustBIX Inc
Contact Person: Mr. Hubert Lau & Mr. David Schuster
Email: Send Email
Phone: (780)456-2207
Address:2nd floor Inc., 10607 – 82 Street NW
City: Edmonton
State: Alberta T6A 3N2
Country: Canada
Website: http://www.trustbix.com/