NUGLO food token
The decentralized food aid system seeks to provide a secure and reliable ecosystem using Blockchain technology to distribute food to vulnerable or malnourished communities without requiring them to have a smartphone or electronic device, the resources are represented in cryptographic tokens called NUGLO (global nutrition) which do not have a commercial value but are exchangeable for food.
One in ten children in Colombia suffers from malnutrition and 13.2% of all children suffer from chronic malnutrition.
The Problem
Currently, many organizations and people in general distrust the existing means to make their donations, because a large part of the resources are lost in intermediaries and payment of transactions, and in a large number of cases the funds end up being mismanaged or used in corruption activities, which prevents communities from receiving the necessary products to combat malnutrition and hunger.
Despite the existence of good existing aid programs to combat hunger, in most cases the resources do not go directly to the needy community or do not reach them in their entirety due to the number of intermediaries, commission payments and corrupt systems.
What will we do about it?
Redetronic software company located in Armenia, Quindío, Colombia in alliance with SUNNET, is developing a technological project using Blockchain technology where through a smart contract donations are distributed in NUGLO tokens which have no commercial value, but are exchangeable for food.
This allows the tokens to be given to the affected communities in their electronic wallets, which will be linked to each member of the community through censuses where biometric data is captured and registered in the decentralized NUGLO platform, which will be hosted in the web address www.nuglo.org currently under construction.
How does it work?
NUGLO’s decentralized system provides support for vulnerable communities with nutritional needs, foundations and NGOs as well as individuals and corporate donors.
Identification of vulnerable communities
The NUGLO platform offers tools that allow volunteers and NGOs to capture data from vulnerable communities by securing each record with either an electronic signature or a biometric record, the devices for such capture are also provided by NUGLO.
NUGLO token distribution
Upon completion of the registrations, e-wallets are assigned linked to the NUGLO smart contract that will assign a number of tokens to each member depending on the level of vulnerability and population volume registered for the community.
Food delivery
Once the wallets are assigned, each member of the community will be able to pick up the food through local producers or distributors linked to the project, who at the time of pick up must confirm their electronic signature or biometric registration, at that moment the smart contract will release the NUGLO tokens to the food supplier and the person receives their food, which must be assigned under the nutritional standards of agencies such as the WFP.
How are collections made?
Donations and grants are received in fiat money or cryptocurrencies, the resources are safeguarded by the smart contract that will be associated with the assigned wallets, this contract will be responsible for releasing the tokens to each food supplier to their respective wallets. Finally, suppliers will be able to exchange their NUGLO tokens for their local currency on the NUGLO platform or through exchanges linked to the project.
