How Blockchain can be used in restaurant business?
I wanna talk about using of blockchain in real life services which are you using in your everyday life.
We all eat. We often order food with delivery when we are too busy for cooking at home,or just want to enjoy a meal with your friends in the comfort of your home.And guys from BiteCoin network offer you the most intriguing alternative. As the world’s first decentralized, cryptocurrency-backed food delivery network.
I guess,if you ever ordered food you faced with waiting of your food for hours,with getting a cold food,or wrong dishes… BiteCoin network service solve this problem. If you use that service and face with bad perfomence,bad service, or bad food, you can get your money back!
Why blockchain is necessity?
The two important aspect of using blockchain in business is reliability and efficiency.
Reliability: On-demand food delivery markets are relatively newer concepts compared to its counterpart food and hospitality industry. However, it is easy to hear about regular customer complaints varying from delayed — even hours of — delivery to cold food to even totally misplaced food item. An effective mechanism to treat this anomaly is to implement customer support mechanisms that allow to partially or fully refund the customer of aggregated payments. This, however, is a tedious task to achieve from an end-user point of view. Moreover, only companies that are well footed have the luxury to fully implement customer grievance redressals.
Efficiency: There are many players in the on-demand food delivery business right now. An estimated 25%-30% commission is the market rate for almost all of the delivery networks as per our market research (see following sections). Even though this seems to be a high rate in the industry, most businesses are on a bleeding edge. They are not able to register profits on their annual returns. A prime factor why this happens is due to ineffective fleet management tools available. They rely only on broadcast services or mobile applications to get to the available driver who can make the delivery. All of this mismanagement adds to the already heavy overhead running cost of the fleet as independent contractors.
How it works?
First of all, when BiteCoin Network receives a processed order from a customer’s cell phone or web app, we calculate the optimum possible route using trajectory planning techniques to move from point A (carrier) to point C (customer) via point B (restaurant). This calculated optimized route is transmitted to the carriers (drivers) on a flag-priority based method. This means that even if one driver is closer to the restaurant than another one, the route is optimal for the second driver, the flag-priority turns the pole to the second driver (the far away one) first before getting to the nearby driver.
Once the driver is located and approved, an optimized route is then modelled using model predictive control (MPC) techniques for time-delay systems to assimilate historic and live traffic data. This gets a fresh model-optimized trajectory. Fault tolerant control (FTC) guarantees along with the previously calculated route-planning methods will give this model-based method substantial advantage in terms of optimization and efficiency. With our mathematical models including FTCs, an overwhelming 20%-30% overall efficiency can be improved compared to conventional players in the market.
Business Model
The BiteCoin App will basically be an aggregator of restaurants in the city of Paris providing the customer with a inventory of places to order their food from. This traditional yet fairly new online business model has seen its success due to the fact that we cheap and ubiquitous mobile phones and ever-growing penetration of the internet. The following diagram represents the business model of the proposed project. A simple representation of a single transaction taking place throughout the customer’s journey from order their food from a restaurant to the delivery being made is show below.
Token distribution
Crowd Sale 5,000,000,000 BiteCoins (10% of total coins) will be sold in the crowd sale. This includes all the tokens that the public can acquire from outside the normal token emission using the delivery app. This also includes any private sale deals the BiteCoin will execute.
Team Members 700,000,000 BiteCoins (1.4% of net tokens) will be reserved for the team members and will be locked for one year from sale or transfer.
Advisors and Bounty Hunters 300,000,000 BiteCoins (0.6% of total available tokens) will be awarded in bounty and for advisory board members
Operational Tokens 44,000,000,000 BiteCoins (88% of total tokens) will be reserved for the operational utility and shall be held in publicly audited escrow accounts. As we have detailed in the business model, we will issue 1 BiteCoin to the end-user for every food purchase made for 1$. Therefore, forecasting an estimated turnover for multiple cities in launching over the next 10 years, we will use the tokens to issue to the app users. However, the tokens will be held in a publicly verifiable and audited escrow account and will only be redeemed against purchase invoices enforced by the smart contract.
Conclusion
As you can see, team and bounty hunters have an adequate value of tokens. So it is not just speculation, this project is a really working network. It already has more than 260 restaurants in partnership. It is currently launching in Paris and London. There is a detailed roadmap from now to Q3 2019. It is good project for investing.
You can find more information about this project here:
Site: https://bitecoin.network
Twitter: https://twitter.com/BiteCoinNetwork
Bitcointalk: https://bitcointalk.org/index.php?topic=3013633.0
Facebook: www.facebook.com/BiteCoinNetworkOfficial
Sub-reddit: https://www.reddit.com/r/bitecoin
Telegram group: https://t.me/BiteCoinNetwork