Bistroo, the peer-to-peer food ecosystem based on blockchain, announced that they are onboarding multiple cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) to be used as a payment method on their platform.
This move significantly extends the existing payment options, including fiat currency and the platform’s native BIST token. It also makes Bistroo the world’s first food ordering platform to embrace cryptocurrencies and blockchain.
Adoption of Cryptocurrencies
Since launching in early 2020, Bistroo has processed over $2.3 million in orders from 25,000 unique customers. The company is already steadily taking over market dominance in the Netherlands, the birthplace of such industry giants as Takeaway Inc.
Following a successful raise of over $8 million in May, Bistroo has already been working hard to enable payments with its native BIST token, powering the Bistroo ecosystem. The company’s collaboration with CoinPayments allowed the token holders to spend BIST at any of CoinPayments’ 100,000 merchants operating in over 200 countries worldwide.
Bistroo is expanding the collaboration and further supporting the adoption of crypto by allowing its customers to make payments in one of five major cryptocurrencies: BTC, ETH, BNB, LTC, and BCH.
Listing on Bistroo now allows restaurants and food operators to quickly expand their payments services into cryptocurrencies while leveraging the substantial benefits of using a peer-to-peer platform.
To further promote the adoption of cryptocurrencies, Bistroo temporarily doesn’t charge commission on crypto payments. This gives merchants an even larger slice of their returns, and consumers receive a discount on their orders. This discount is even more prominent when they choose to pay with the platform’s native BIST Token.
"Bistroo is on a mission to set ourselves up on the global stage with our unique business model. The future is moving towards a protocol economy where parties can directly interact with each other, and Bistroo is taking the first steps in that direction, offering a better value proposition for the food ordering platform market. Enabling our users to transact in crypto is an integral part of that journey,"'
said Bas Roos, CEO and co-founder of Bistroo.
Giving the Power Back to Restaurants
Food ordering platforms have boomed in recent years, making it easy to enjoy favorite meals at home, but they’ve also made it difficult for restaurants to sustain their business.
Today’s platforms impose high fees on food merchants while controlling all data and payouts and taking over customer relationships and loyalty. Ultimately, the model leads to higher costs for consumers and restaurants.
Bistroo aims to give power back to food merchants by cutting out transaction intermediaries and building the right tools to grow sustainably.
Blockchain technology more easily facilitates direct relationships between merchants and consumers and gives the merchant more control, transparency, fairness, and loyalty in the food-ordering market.
Bistroo provides a peer-to-peer marketplace for food operators and customers that facilitates their connection instead of controlling it. The platform gives restaurants control over their webshops, and manages their payments, menu configuration, orders, promotions, and analytics.
Customers in the Bistroo ecosystem can have direct relations with their favorite merchants. It also allows consumers to leverage their usage data. They can choose to share their consumption habits in exchange for rewards and food recommendations that fit their taste or keep it private.
Bistroo’s ultimate goal is to become a global leader in PaaS e-commerce technology for restaurants and food shops. Bistroo.com aims to be the portal that will enable restaurants and specialty food stores worldwide to offer their products directly to their customers, offering low fees, instant payouts, and complete control.
On The Flipside
- Revenue in the Online Food Delivery segment is projected to reach $302,826 million in 2021 with an annual growth rate of 9.89%. Using cryptocurrencies and blockchain technology in the food sector provides more opportunities for mass adoption of the technology. Blockchain technology has the potential to remove the middlemen and bring more transparency and reduced costs in the food delivery market.
Why You Should Care?
With a highly competitive food delivery market, attracting and sustaining a userbase is a challenging task.