Blocery

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Discover Blocery's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Blocery?

Blocery (BLY) is a blockchain-based cryptocurrency that operates within a trusted food supply chain ecosystem. It records immutable data on the blockchain, including the production, distribution, and sales history of agricultural products, ensuring transparency and trust throughout the supply chain.

How is Blocery used?

Blocery (BLY) is the native token of a blockchain-based food supply chain ecosystem. It is used to incentivize ecosystem participants by rewarding them with BLY tokens for sharing their data, which includes production history, quality management, and more. The token serves several purposes within the ecosystem:

  1. Medium for Transactions and Contracts: BLY tokens are used for all transactions and contracts within the ecosystem, including data provision, payment for data usage, dispute resolution, and contract fulfillment guarantees.

  2. Staking: Users can stake BLY tokens to receive rewards in BLY tokens, which is another use case.

  3. Payment in Decentralized Applications (dApps): BLY tokens can be used as a means of payment within the dApps provided by Blocery, such as MarketBly and Nicefood.

Overall, the utility of BLY tokens is crucial to maintaining the trust and efficiency of the Blocery food supply chain ecosystem.

How do I store Blocery?

To store Blocery (BLY) tokens, you have several options:

  1. Centralized Exchange Wallets: You can store your Blocery tokens on the exchange where you purchased them. This method provides easy access to your funds and allows you to use the exchange's features, such as trading and staking. However, it is essential to note that exchanges can be vulnerable to hacks, and your funds may be at risk if the exchange is compromised.

  2. Crypto Wallets: You can transfer your Blocery tokens to a crypto wallet, which offers more control and security over your assets. There are various types of wallets, including:

    • Hot Wallets: These are connected to the internet and are more convenient for frequent transactions. Examples include Trust Wallet and Binance Wallet.

    • Cold Wallets: These are offline and provide the highest level of security. They come in two forms:

      • Paper Wallets: Generate and print your public and private keys offline, then store them securely.
      • Hardware Wallets: Physical devices that store your keys, such as USB drives, and are highly secure.
  3. Decentralized Wallets: If you want to maintain full custody of your tokens and have more privacy, you can use a decentralized wallet that supports Blocery. These wallets are often self-custodial and allow you to manage your assets directly.

When choosing a storage method, consider your needs and the level of security you require. It is essential to keep your wallet secure by following best practices, such as using strong passwords, enabling two-factor authentication, and keeping your seed phrases safe.

How to buy Blocery?

To buy Blocery (BLY) tokens, follow these steps:

  1. Create an Account: Register on a reliable centralized exchange like Binance, Coinbase, or Gate.io. Provide necessary information, including your email address and a secure password, and complete any identity verification steps. Research the exchange, read user reviews, and compare different exchanges to choose the most suitable one for you.

  2. Choose a Funding Method: Select a payment method to buy Blocery. Common options include credit or debit cards, bank deposits, peer-to-peer trading, and third-party payment channels. Check the exchange's FAQ section for available options.

  3. Buy Blocery (BLY): In the Buy & Sell section, click "Buy" and choose Blocery (BLY) as the cryptocurrency you want to purchase. The exact steps may vary depending on the exchange platform.

  1. Transfer to Wallet: Once purchased, you can either hold the tokens in your exchange account or transfer them to a personal cryptocurrency wallet like Metamask Wallet, which supports millions of assets and blockchains. This allows you to trade Blocery on decentralized exchanges.

For a more detailed guide, you can refer to resources like BitScreener, Binance, or CoinCarp, which provide step-by-step instructions and lists of exchanges that support Blocery trading.

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History of Blocery

Blocery (BLY) is a cryptocurrency launched in 2018 and operates on the Ethereum platform. It is designed to create a blockchain-based trusted food supply chain ecosystem, recording immutable data such as production, distribution, and sales history of agricultural products onto the blockchain.

Blocery's price history shows significant fluctuations over time. Its all-time high was recorded on April 4, 2021, at $0.6763, and its all-time low was on June 12, 2023, at $0.002898. The current market capitalization and trading volume indicate the token's performance in the market.

Blocery is traded on several exchanges, including Bithumb, Gate.io, LATOKEN, MEXC, and Uniswap V2, with various trading pairs such as BLY/KRW, BLY/USDT, and BLY/BTC. The token's price and trading volume can be monitored through these exchanges and websites that provide real-time data.

The project has official websites and social media links, including its website, Twitter, Facebook, and GitHub, which provide information on its development and updates.

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How Blocery works

Blocery (BLY) is a cryptocurrency that operates on blockchain technology, focusing on creating a trusted food supply chain ecosystem. Here's how it works:

Key Components
  1. Blockchain Technology: Blocery leverages blockchain technology to record immutable data, ensuring transparency and trust throughout the agricultural goods supply chain. This includes the production, distribution, and sales history of products.

  2. Supply Chain Ecosystem: The platform aims to connect end-consumers and producers, providing reasonable benefits to both parties. It offers a transparent and trustable value chain, enhancing the efficiency of the supply chain system.

  3. ESG Enhancement: Blocery emphasizes Environmental, Social, and Governance (ESG) aspects. It promotes accountability and sustainability in environmental practices, social responsibility, and governance structures.

shopBLY Service
  1. Contract Farming and Traceability: shopBLY allows producers to offer real-time trustworthy information throughout production. Consumers can pre-purchase goods and benefit from price advantages and traceability.

  2. Community-Based Shopping: The platform integrates shopping, compensation, and community features, enabling producers and consumers to share meaningful data and traceability within communities.

  3. Metaverse (Digital Twin): Blocery develops an agricultural metaverse using AR/VR and digital twin technologies, offering a customized and immersive user experience.

Token Distribution and Ecosystem
  1. Token Distribution: The total supply of BLY tokens is 1 billion, with allocations to various components such as the ecosystem, team, private sales, marketing, foundation reserve, partners, and advisors.

  2. Blocery Ecosystem: The platform provides a more efficient way of working across the food supply chain, benefiting all participants with a safer, smarter, and more sustainable ecosystem.

Trading and Storage
  1. Buying and Selling: Blocery can be purchased through various methods, including centralized exchanges, decentralized exchanges, and crypto wallets. Users can buy BLY using fiat currency or by exchanging other cryptocurrencies.

  2. Storage: BLY tokens can be stored in compatible crypto wallets, ensuring secure custody of the assets.

Roadmap and Development

Blocery has a roadmap outlining its development milestones, including the completion of specific tasks in 2024. The project continues to evolve, focusing on enhancing its ecosystem and services.

Overall, Blocery (BLY) is a cryptocurrency that utilizes blockchain technology to create a trusted and efficient food supply chain ecosystem, promoting transparency, sustainability, and community engagement.

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Blocery's strengths

The token Blocery (BLY) has several strengths that contribute to its potential in the cryptocurrency market:

  1. Transparency and Trust: Blocery's blockchain-based food supply chain ecosystem ensures transparency and trust by recording immutable data on the production, distribution, and sales history of agricultural products. This transparency builds trust among participants, including producers, manufacturers, distributors, and consumers.

  2. Incentivization: The Blocery ecosystem incentivizes participants by rewarding them with BLY tokens for sharing their data, which includes production history, quality management, and more. This incentivization promotes active participation and data sharing within the ecosystem.

  3. Decentralized Applications: Blocery has launched decentralized applications like MarketBly and Nicefood, which enable direct-to-consumer (DTC) sales and overcome traditional centralized systems. These applications provide consumers with production history and sales information, further enhancing trust.

  1. IoT Devices and Distributed Ledger: The project utilizes IoT devices and a distributed ledger database to establish quality control that cannot be forged or altered. This ensures the integrity of the data and the overall ecosystem.

  2. Multiple Use Cases: BLY tokens have various use cases, including serving as a medium for transactions and contracts, staking, and payment within decentralized applications. This versatility adds value to the token and the ecosystem as a whole.

  3. Limited Supply: The total supply of BLY tokens is capped at 1 billion, which can help maintain price stability by preventing inflation.

  1. ESG Focus: Blocery emphasizes Environmental, Social, and Governance (ESG) aspects, focusing on sustainability, social responsibility, and ethical governance practices. This ESG focus can attract environmentally conscious and socially responsible investors.

These strengths collectively contribute to the potential of Blocery (BLY) as a cryptocurrency project.

Blocery's risks

Blocery (BLY), as a cryptocurrency, is exposed to various financial risks that can impact its value and stability. Some of the key risks include:

  1. Market Risk: The crypto-asset market is highly volatile, and Blocery's value can fluctuate rapidly due to changes in market sentiment, supply and demand, and global economic conditions.

  2. Regulatory Risk: The regulatory environment for cryptocurrencies is still evolving and uncertain. Changes in regulations or laws can significantly affect Blocery's value and usage.

  3. Liquidity Risk: Blocery's liquidity can be limited, making it difficult to buy or sell the token quickly enough or at a favorable price. This can lead to significant losses if investors need to liquidate their holdings rapidly.

  1. Counterparty Risk: Blocery's value can be impacted by the stability and reliability of the platforms and exchanges it operates on. If these platforms experience issues or failures, Blocery holders may face significant losses.

  2. Operational Risk: Technical issues, such as hacks or platform errors, can compromise Blocery's security and lead to losses for investors.

  3. Credit Risk: If Blocery is used for lending or borrowing, there is a risk that borrowers may default on their obligations, leading to losses for lenders.

  1. Governance Risk: The governance structure of Blocery can impact its value if decisions are made that are not in the best interests of token holders.

These risks highlight the importance of thorough research and due diligence before investing in Blocery or any other cryptocurrency.

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Did Blocery raise funds?

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Blocery’s team

  • Grant Jin: Co-Founder and Director of Blocery.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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