The food delivery and takeaway industry has experienced a huge increase in orders since corona. With the eating out landscape currently dominated by giants like UberEats, DoorDash, and Takeaway, that are known for high fees and sometimes mismanagement of food deliveries.
Today the global market size is valued at USD 26.95 billion and is projected to swell to USD 41.69 billion by 2028, needless to say that puts the Netherlands in a similar situation in that it generates an estimated USD 1.7 billion in revenue in 2024. A more than opportune time you could say…
Bistroo is a blockchain protocol that aims to gain some slice of the pie in the food delivery and takeaway sector, where it will work as a Decentralized Peer-to-Peer Network (DePIN) that directly connects restaurants with customers.
A platform built on the Peaq Network (a DePIN launch platform), Bistroo leverages blockchain to ensure all participants – foodies, restaurants, and delivery personnel – benefit from a fair and incentivized system.
With 49 new restaurants joining the platform in September alone, the Dutch food market could perhaps benefit from their customizable platform and with expansion even being considered in Belgium.
Consumers can enjoy a straightforward app available on desktop and mobile platforms, which supports takeaway and delivery options from a variety of restaurants, as well as rewards for both restaurants and customers.
Bistroo B.V., established in the Netherlands, is the driving force behind the Bistroo Platform and the BIST Token. Founded in 2019, the platform launched in 2020 following a successful fundraising campaign. The team has backgrounds in areas like software engineering, finance, and sales.
This review of Bistroo (BIST) was created for informational purposes. This article is not intended for promotion.
To understand what Bistroo is trying to achieve, we must understand the way traditional food delivery companies operate. According to their research, the margins of ‘traditional’ food delivery companies are slim and their costs are high. With a total cost that often includes a significant premium paid by the consumer—about 47% more than if you would go pick up the food yourself.
What the consumer pays, only 61% goes to the merchant, and 24% of that (mostly tips) ends up with the drivers, with 15% for the platform’s revenue, right in their pockets. To understand this we can take a look at the revenue streams of food delivery platforms:
The primary benefit of using Bistroo is to gain full autonomy over your food delivery and restaurant transactions. With Bistroo, restaurants can:
The instant payout feature enables restaurants to receive their earnings the day after an order is processed. If transactions are made with BIST, the payout is instant upon delivery confirmation.
In 2024, Bistroo will launch a digital in-app stamp-based loyalty program, an initiative that will allow users to collect digital stamps with each purchase and earn discounts. By holding BIST, you will be able to collect stamps faster and enjoy rewards more frequently.
Later, Bistroo plans to integrate an NFT-based loyalty system into the customer journey, a system that will use NFTs to manage loyalty rewards and perks.
By joining forces with Peaq, Bistroo is able to connect restaurants directly with more customers. A direct connection that allows for reduced costs on menu items and lets customers earn rewards for their orders.
By integrating with Peaq’s resources and partner projects, Bistroo plans to create a more rewarding ecosystem for all contributors, from restaurant partners to individual customers, through decentralized and personalized network incentives.
The BIST token serves as the cornerstone of Bistroo’s ecosystem, and facilitates a variety of key functions designed to enhance the experience of stakeholders. Let’s break down 4 use cases:
As said earlier, BIST tokens reward users for their loyalty through digital stamp cards within the app. Users can collect stamps to earn discounts on future purchases. An upcoming feature is the BIST-boosted stamp card, which offers double rewards for users holding BIST tokens.
The platform also has a BistrooCapital branch where it will offer short-term business credit lines or merchant cash advances to support merchants in need of capital.
Merchants can access short-term loans or merchant cash advances by leveraging the community lending pool, an initiative that will allow credit providers to earn returns based on the merchant’s sales performance.
Just like the Presearch search engine uses PRE tokens, Bistroo allows merchants to spend fiat or crypto to advertise on the platform. Users, in turn, earn BIST tokens for engaging with these ads.
Finally, BIST tokens can be used to purchase meals, platform services, NFTs, and merchandise in their food delivery economy. In it, their users can benefit from discounts when paying with BIST tokens.
The BIST economy revolves around three main contributors or stakeholders: restaurants, consumers, and network builders.
Bistroo operates in a gigantic market, so with a lot of potential, with the addressable global market valued at $151.1 billion and $3.4 billion in its own region (Netherlands and Belgium). If we see such a large market potential, perhaps Bistroo could be on to something.
Looking ahead, Bistroo is committed with their many deals already and has the timing right. With the blockchain boom we are going to see perhaps another step closer to the ultimate global adoption by anyone with a smartphone and a small hunger.
The only thing we need is that people start using Bistroo. Hopefully this works and they can expand their services to the big Dutch and Belgian cities for crypto enthusiasts to stay longer behind their PCs to watch price action and eat from there.
Bistroo is on a mission to reshape the landscape of e-commerce within the food industry, making it more direct, decentralized, and beneficial for everyone involved.
Consumers can start their interaction with Bistroo through their platform where they can discover and select the restaurant of their choice. The platform is available on desktop, iOS, and Android.
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