Why the Dinnerful Network’s Upcoming ICO is the Future of the Restaurant Industry
For most people, the restaurant industry is about as far from the exciting world of cryptocurrency as you can get. But, the founders of the Dinnerful Network are bringing these two industries together. Dinnerful is about to offer “dinner on the blockchain” — and neither cryptocurrency of the restaurant industry will ever be the same.
What is Dinnerful?
Dinnerful got its start as a Groupon-like site that offered users access to discounted meal packages. It was the sharing economy for restaurants. But, after reaching profitability, the founders of Dinnerful have more ambitious plans.
They have launched the Dinnerful Network, which will allow users to use their cryptocurrency MCD to buy discounted meal plans. It is one of the first companies to create a network of physical businesses that will sell their products in a cryptocurrency.
The founders are also launching an initial coin offering (ICO) to help fund future expansion of the program and to allow more people to participate in this revolutionary business model.
How Does This ICO Work?
An ICO is like an IPO, but instead of issuing securities the company issues digital currency. The Dinnerful Network will be issuing Meal Coin Dinnerful (MCD) tokens to participants in the ICO. Dinnerful is using the Ethereum blockchain to track the MCD tokens.
People will be able to use the tokens instead of cash to buy discounted meals. After the ICO holders of MCD tokens will be able to liquidate them at the current market price.
Dinnerful Franchise Opportunities
Restaurants that contribute MCD tokens to become partners will be able to enjoy free initial crypto payment service. When participants contribute certain amount worth of MCD tokens they will be granted an exclusive franchise for a given geographic area on the Dinnerful network, i.e. 700 ETH for New York-Newark-Jersey City-Mid Atlantic Area. Franchise owners will be granted use of the Dinnerful trademarks and all the proprietary tools they need to open virtual storefronts to sell meal plans. These franchises allow entrepreneurs to open a restaurant business without having any type of storefront. It is like a digital food truck, powered by the Dinnerful Network.
Franchise owners will be able to sell or expand their businesses as the market grows and their profits increase.
What is Ethereum?
Many people are not as familiar with the cryptocurrency Ethereum as they are with the industry pioneer Bitcoin. However, Bitcoin has run into several problems in the past year. The growth in the value of Bitcoin has slowed as users have debated about the best way to scale moving forward.
Ethereum may not yet be a household name like Bitcoin, but its blockchain is more stable and the currency has vastly outpaced the growth of Bitcoin. Ethereum increased in value ten-fold over the past 6 months.
What Dinnerful MCD Coins and Blockchain Mean for the Future
The blockchain technology that will power the Dinnerful Network ICO is incredibly powerful. Not only can it be used to create a transparent monetary system independent of any government or central bank, it can also be used to track anything from mortgages to executing a contract.
Up until now, digital currencies like Ethereum and Bitcoin have been used mostly as a way to pay for digital items are held for investment or speculation.
The Dinnerful Network’s ICO is about merging the brick and mortar world with the digital world of cryptocurrencies. This technology makes these purchases more secure and more convenient.
The Dinnerful Network’s ICO is laying the groundwork for a future where there is no difference between ecommerce and physical commerce. Because of the power of the blockchain, cryptocurrencies will be the default choice of most of the world when it comes to making any kind of purchase, whether it is a nice dinner or a new book.