BiteCoin Network
BiteCoin is world’s first crypto-backed fully decentralized food delivery service. Blockchain is a hot topic right now and so every tom-dick-and-harry will be doing something on it. Everyone wants to jump in on the bandwagon no matter what. BiteCoin is different, or at least tries to be.
People are fed-up with companies overdoing blockchains techs in their firms and on a first look, BiteCoin might look the same. Read on to let us convince you otherwise.
The fundamental premise is to address the question, “who is going to benefit and how?”. The value proposition is briefed in three fundamental aspects.
The End-User
Apart from the usual token-sale routine gimmicks, what are you really giving the end user and how does he benefit from it?
The idea is to provide guarantees to the customer who orders food. After all, blockchain is a trustless guarantee-mechanism for anything and everything.
The customer orders food and he can (a) pay with any exchange-regulated cryptocurrency, (b) get guarantees to receive his food on time or else the escrow will release back his payment and © get an incentive in the form of tokens for saving and/or exchanging for other currencies including fiat.
The Restaurant Owners
The operational bottleneck in traditional food-delivery services are payment settlements, support and their continuous monitoring evaluation even though a whopping 25–30% commission is paid to the delivery service network. With BiteCoin, we eliminate the need for detailed inspections and payment tracking. Everything will be handled by the chain and will be fully transparent, autonomous and trustless with an added incentive of per-day settlement base. Gone are the times when restaurant owners had to wait for weeks, and even a month in some cases to get their money.
Blockchain/Cryptocurrency Community
A very important question we tried to address is what value are weadding to the blockchain community in our venture.
Unlike many crypto startups, we are actually adding value to the community both in terms of technical and social ecosystem.
Social Value Proposition
(a) Everyone loves eating! and so, it would not be out of place to argue that BiteCoin has the potential to grow into a large user-base supporting and living on our platforms. With BiteCoin, we pull these customers to the blockchain community which is currently very low compared to the total internet users at any given space.
(b) The knowledge curve is important here, and BiteCoin does its share in bringing both the large food-loving customer base entangled with blockchain, cryptocurrencies, exchanges and the tech in general.
Technical Value Addition
(a) Our payment system will be fully decentralized and will be handled at the end node of individual users.
This is how we ensure the funds are secured and handled according to the contract agreement, including but not limited to, time and actual product consistency. Once the payment has been made (both crypto and fiat), it will be held in an escrow account and will be released only if the delivery is made in time all enforced by on-the-chain smart contracts.
(b) Once the network receives the order summary, our cutting-edge algorithm is executed on-the-chain to optimize trajectory planning, delivery implementation, fault tolerance and live tracking.
This is where the technology implementation really focuses on. From nodeA to nodeB via nodeC (delivery personnel to cursomer via the restaurant), the optimization includes trajectory planning, model optimization, fault tolerance guarantees, time-delayed system control and assimilation of historical data into the model object projection.
Our team has core-expertise in all these state-of-the-art tech implementation vectors as can be seen from our profile and the papers published in peer-reviewed journals. In fact, that is how the idea itself was born in the first place.
That’s all about BiteCoin in a nutshell. Feel free to shoot your questions and send us your feedback. We will be happy to help. Also don’t forget to join out Telegram group (https://t.me/BiteCoinNetwork) for more updates and news.
We hope you really enjoy the ride and become part of the a new crypto episode.
https://bitecoin.network
