- Bistroo is gearing up to be one of the notable names in the food ecosystem today.
- Bistroo is a blockchain-based food takeaway platform that uses BIST tokens.
- This review aims to let readers know everything about Bistroo.
The modern-day food and beverage sector is plagued with a lot of issues today. Due to unforeseen circumstances, the way we see the world changed as well. In just a few years, several technologies and innovations came about and solved present-day problems. With that said, food delivery platforms emerged and changed the industry entirely.
While these food delivery platforms have pros and cons, no one can deny how it is truly beneficial — especially during the pandemic. However, restaurant owners have somehow felt the downside of this kind of service, like sometimes the payment processes take long and are likewise subject to high fees.
These issues, moreover, are the things that Bistroo aims to solve. Through the power of blockchain technology and cryptocurrency, Bistroo is gearing up to be one the best direct-to-consumer platforms for food, meals, and beverages.
What is Bistroo?
Bistroo is a takeaway startup that utilizes its native token, BIST, as a way to facilitate payments, as well as gain liquidity and create loan structures for businesses. In addition, Bistro offers rewards to BIST token owners as well. Situated in the Netherlands where it has garnered incredible growth, Bistroo still has plans to expand to Belgium and soon, into the global market.
In addition to this, Bistroo aims to bring back restaurants’ personal contact with customers along with flexibility, full control, direct payments, and lower fees to name a few. Because of the services that Bistroo offers, more restaurants are attracted to use its platform. Notably, Bistroo’s unique reward program also helps encourage the community to get involved with Bistroo’s vision; hence, more restaurants come onto the platform and therefore create a positive driving force for Bistroo’s growth cycle.
Bistroo Consumer App and Business Dashboard
The Bistroo platform has been live since March 2020. According to its website, it records more than 25,000 active users with a platform volume of more than $2.3M.
Food business owners can take advantage of the easy mechanism of the platform, allowing them to use the analytics dashboard. Here, merchants can easily edit their menus, pricing, and even adjust their delivery area. They will also be able to schedule holidays and rotating menus — as well as create discounts, coupons, and campaigns. More so, merchants can manage direct relationships with their customers through this.
On the other hand, customers who use Bistroo’s food ordering application will also experience an enhanced algorithm that optimizes their feed according to what they want and prefer. This smart technology makes it easier for customers to look for the food and restaurant they can go to. In turn, this saves them time in scrolling through the app.
How Does Bistroo Work
The company takes pride in solving key problems in the food and beverage industry today like overbearing control and high fees for restaurants. Bistroo allows restaurants to be able to quickly adapt to the system along with the rapid changes they have to make in their menu or operations. At the moment, it offers a much lower transaction fee compared to its competitors and pledges to keep this low transaction cost for restaurants in the industry.
Moreover, Bistroo also allows restaurants to directly connect with customers and then provide them with a menu, which they have full control over — including the prices and real-time changes in it. What’s more, the platform facilitates an instant payment structure rather than delayed payments from other restaurants. Bistroo ensures restaurants that onboarding will only take a day or less. It is important to note, however, that Bistroo does now provide delivery service for restaurants.
Through Bistroo, customers will be able to pay for their meals using the BIST token. Note that this has lower rates compared to fiat. Moreover, customers can be rewarded as well for being Bistroo Ambassadors when they get their favorite restaurants (and fellow customers) onto the Bistroo platform. Additionally, there is a “giveback” feature that rewards the customers with 1% of each fiat-paid order in BIST and 2% of each BIST-paid order is further rewarded in BIST as well. What’s more, customers have full control over their data and privacy but they will also be given rewards when they choose to share it.
Furthermore, as a customer, you can also earn rewards for rating and reviewing your orders and restaurants. Similarly, when you stake BIST tokens, you earn rewards as well. More so, when you invest in your favorite restaurants by contributing to a BIST loan with payback and interest, you can earn rewards through this, while the restaurant generates revenue simultaneously.
Bistroo’s native token, BIST, is type ERC-20. It has a total supply of 100 million which is also mintable.
As mentioned above, the BIST token will be used in Bistroo’s reward system. In summary, this includes customers sharing data, giving ratings and reviews, early adoption and growth, and being an affiliate and ambassador of Bistroo.
This reward system will further encourage the use of BIST and at the same time, be Bistroo’s driving force and tool to help non-crypto users to ease into the crypto space.
BIST Merchant DeFi
One of the most innovative features of the BIST token is decentralized merchant financing. This is conducted on the Bistroo network and helps merchants get the capital they need to make improvements in their operations. Likewise, community members will have the chance to fund BIST Token Advance Requests from merchants of their choice. Here, the merchant and the community will sign a transparent contract of the loan agreement. Investors will also receive a certain percentage of the future sale revenues over a given period, with interest.
Features of Bistroo
Merchants will have nearly complete flexibility in menu set-up, discounts, menu changes regarding the low/high stock of an item, as well as menu offerings. They will also have the chance to purchase customer data analytics that will help them target improvements or come up with ways where they can gain additional revenues.
Similarly, merchants can also purchase smart advertising and promotions and discounts on premium features when paid for in BIST. The merchants are also eligible for discounts and reduced commission fees in staking rewards.
Bistroo’s flexible solutions will help merchants set up how they can receive orders (mailbox, notification on Bistroo dashboard, receipt printer, SMS) and receive payments when an order is fulfilled, immediately and directly — in the merchant’s current system e.g. deliverect, mollie, UnTill, etc.
As customers, there are several more features that you can relish — aside from the percentage that you will receive when you rate orders or restaurants; even in the giveback that you get when you pay in BIST. There are also investment opportunities waiting for you when you request BIST token advances. Moreover, you are also entitled to merchant discounts for customer loyalty.
A Futuristic Approach for the Food and Beverage Industry
Using blockchain technology, Bistroo allows the food and beverage industry to expand and be more efficient. Not only that, it practices the Entrepreneur-first approach, which enables business owners to have full control over their entire business operations and be in direct contact with their customers. Not to mention, being able to be paid directly through cryptocurrencies. Moreover, the community-driven Bistroo network strives to unite restaurant owners, their customers, and its blockchain talent to drive the Bistroo community’s expansion and growth — while fairly rewarding everyone’s contributions.
At the moment, it rivals big names like Deliveroo and Thuisbezorgd.nl — and is still working hard to stand out from the rest of the individual restaurant food delivery systems in the industry.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.