FoodNation Token Economy
How does FoodNation works?
FOOD tokens were created for internal and external payments of the FoodNation system. They are also accepted for payment of fees or other marketplace services. FOOD tokens are integrated into the platform to ensure maximum trade flow.
In compliance with the current online commerce trends, online payments with FOOD tokens on FoodNation platform will be made through smart-contract deals, which will result in the safest transactions (e.g.: the restaurant receives the money only after the order is delivered to its destination).
We will provide interfaces for fast and easy ordering and multi-currency wallet with the option to pay with cryptocurrency and fiat. It will be possible to buy food anywhere in world by holding FOOD tokens without any middleman involved.
The value of FOOD tokens, like any other cryptocurrency, will be determined by people’s willingness to accept them as the payment for their products and services.
In this part, we’ll try to describe some use-case scenarios:
Scenario 1: Imagine a hungry user that does not hold any FOOD tokens. He still needs to eat and order his food. In order to make easy for this kind of user enter and use our platform, we integrated with payment processors, like PayPal, restaurants will input their payment credentials and will receive the full payment from those users. The restaurant, on the other hand, will pay the FoodNation fee in crypto, using FOOD tokens. In this case, the restaurant will need to also pay the payment processor fee. This will assure a really easy migration to our product, by removing any kind of entry barrier. The user will receive some FOOD tokens as cash-back and he without any requirements he will have a crypto wallet for future use.
Scenario 2: What if the user does not have FOOD tokens, but has other cryptocurrencies? We are working on a safe wallet that those users can place their crypto and purchase similarly to scenario 1. The restaurant will be able to accept those cryptocurrencies or not, and will pay the fee in FOOD tokens.
Scenario 3: What if the user already have FOOD tokens? He will have more benefits, because restaurants can give bigger discounts to those users. He can buy his food and restaurant will pay the platform fee with the client payment. This scenario is easier for the restaurant as well, because they don't need to transform fiat in FOOD tokens.
