The impact on food takeaway services during the COVID19 pandemic has been immense, and Bistroo was created in March 2020 to help the industry thrive in difficult times.
Many eateries were being driven into a relationship with platforms that allowed the platforms to set terms and criteria, and left the businesses without any power.
As the pandemic spread, Bistroo gained even more traction as eateries were forced to move to a takeaway/delivery-only model that limited their means of survival.
Bistroo combines DeFi, community growth, a neutral platform (“facilitate, never dictate”), and a novel method they are leveraging to enroll a non-crypto audience through their “giveback” program.
It is a great way for restaurants to stay on top of the market, and connect with new clients.
Bistroo Takes Change to a New Level
Bistroo has accomplished significant milestones from the time it was established. After officially initiating operations in March 2020, the company increased its number of processed orders from $100k to $1M after only a few months.
During the same period, the firm attracted approximately 12.5k unique customers with 200 different merchants. Its Credit Voucher System and UX Optimizations were provided with the release of a Native App.
At the beginning of 2021, the company continued its development through the launch of premium dashboard features which work to improve a user’s profile as well as the search/match algorithm function.
After gaining investments the platform’s native token (BIST) reached 8mln EUR for in total capital.
The company has strong collaboration between its team members. Bas Roos who is Bistroo’s Founder and CEO has worked as a Data analytics & Compliance officer at Ernst & Young IT Risk/Assurance after achieving his MBA degree.
Bistroo’s next important team member is Bob Dohmen who contributes over 16 years of programming, platform and web development experience and holds the position as a Founder and CTO of the company.
The company operates with the aim to develop its existing activities, and also expand into staking and reward systems. It is also generating new features such as loans and advertising, enhancing BIST token sales, as well as building up an already solid team and user community.
These activities are supported with a variety of resources such as the firm’s team, community, funding activities, software and platform and surrounding system of BIST.
In addition, to build a sustainable ecosystem, Bistroo cooperates with various key partners such as KHN, Trunkrs, Deliverect, Mollie, High Tech Campus Eindhoven and Untill.
Bistroo: The Value Proposition
As a B2B operation, Bistroo is a platform that enables restaurants to communicate directly with their consumers while providing customers with a menu that they can customize to their liking, including pricing and real-time updates.
Moreover, the platform also helps a food vendor to learn more about customers and enhance customer engagement through advertising, promotions, and rewards.
Noticeably, the platform’s clients receive a great perks of benefits that include attach and leverage their existing payment systems, pay much cheaper transaction fees compared to competitor platforms (5% vs. 15%), facilitate quick payment than major rivals who use a 1-8 week delayed payment structure.
Bistroo also offers the ability to do onboarding in a day or even faster. However, the users should notice that restaurant delivery is not available with Bistroo.
In terms of B2C advantages, platform client’s customers can use BIST to pay for their meals which could offer better rates when compared to fiat currency.
In addition, Bistroo users can receive rewards as a “Bistroo Ambassador” when referring their favorite restaurants to be onboard the platform.
Other useful benefits such as communicating directly with the restaurant to solve any relevant issues, earning rewards for providing feedback for orders as well as controlling their data privacy and receiving even more reward while sharing the platform are available for Bistroo users.
To boost the community development, the platform provides users with a “’givebacks” function which means BIST tokens are rewarded at 1% of each fiat-paid order and at 2% for each BIST-paid order.
Besides that, users can not only receive more reward by staking BIST but also show their interest in their favorite restaurants by investing in a BIST loan with the potential to earn interest when the restaurant generates profits.
Who is Connecting with Bistroo?
Restaurants that join Bistroo and sell their products, as well as customers who purchase and get their cuisine through Bistroo, are two major client segments.
Bistroo’s partnerships with these organizations, on the other hand, are more involved and offer substantial rewards to everyone in the ecosystem.
According to its creators, the excitement and commitment of their community is a big part of the platform’s success. This includes crypto enthusiasts who wish to see the BIST cryptocurrency go mainstream and be linked to tangible goods.
It also includes users who love the service and are looking forward to receiving incentives when they persuade their favorite restaurants to join.
The creators have been transparent about their thought process, motivations, and goal to have a more decentralized footprint as a community facilitator rather than a restaurant/customer go-between. Customers and restaurants can earn BIST rewards in a variety of ways, as demonstrated by its secondary programs.
The Bistroo platform is the principal channel where eateries are onboarded and customers place their orders. The company uses a variety of social media platforms for communication such as its Website, Telegram, BitcoinTalk, Reddit, YouTube and Twitter.
Get to Know The BIST Token
Bistroo native token is known as BIST which belongs to ERC20 with the total supply of 100M and similar to some other tokens, it is minable (but the number should not exceed the total supply).
The BIST token is primarily used by end users to make quick and discounted payments to merchants on the Bistroo network.
In terms of Community Reward Systems, BIST token will be used as a form of payment for a variety of community activities, such as customers exchanging data (enabling maximum expansion and smart advertising), providing feedback and ratings, as well as through affiliate and ambassador programs.
The key purpose of this function is boosting the use of BIST tokens by both merchants and customers while encouraging people who are unfamiliar with crypto into the crypto market.
For the merchant staking function, while the exact amounts may vary depending on platform growth and volume, staking will allow for different percentage savings on merchant commission rates.
Community staking functions such as the reward pool, which is filled at the moment of issuance and renewed by contributing a portion of the token revenues and necessary secondary market buybacks, will benefit community members who stake.
For liquidity mining, users that buy the BIST token early can assist supply liquidity on DeFi exchanges like UniSwap and Balancer. After the sale, the team will lock in sufficient liquidity from operating and seed pools for at least a year.
BIST Makes DeFi Work for Takeout!
Decentralized Merchant Financing, which is performed through the Bistroo network itself, is an exceptionally novel aspect of the BIST token.
Community members will be able to support BIST Token Advance Requests from merchants of their choice in order to assist them receive the funds they need to make upgrades and stabilize operations.
The business and the community sign a smart contract outlining the loan agreement’s terms and conditions. Investors will get a percentage of future sale earnings, plus interest, over a set period of time.
By joining Bistroo, merchants gain a great number of available features such as complete flexibility for menu set up and changes, capacity to buy customer data for further improvement, purchase promotions and smart advertising.
There are also discounts for using premium features when the BIST token is used for payment, staking rewards, and businesses are paid immediately and directly right after orders are filled.
Merchants can also keep using current payment systems like UnTill and mollie.
For customers, there are also various incentives including the 2% giveback with the payment of BIST for their orders,.
Features like liquidity staking, opportunity for investing in favorite restaurants, earning rewards for data sharing and providing feedback for the merchants and massive restaurant discounts are also very attractive.
To learn more about Bistroo, or to start using it for your food takeaway needs, please click here for loads more information!
The post Bistroo: Blockchain Community-Powered Food Delivery Platform appeared first on Blockonomi.