September 4, 2024

Bistroo joins the peaqosystem

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In a nutshell: Bistroo — a food delivery and takeout DePIN — has joined the peaqosystem. Bistroo is not only bringing over 100,000 of its existing users to peaq, but also has the potential of adding hundreds of thousands more devices to the peaqosystem as it expands its operations globally. You will be able to connect directly to your favorite restaurants, skipping any middlemen, as well as unlock various rewards with the $BIST token.

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Trimming the fat with P2P food delivery

The global food delivery industry has been on the rise ever since the pandemic. In fact, it’s expected to grow past $1.3 trillion by 2030. And while that’s great news for the actual food delivery services, it’s not all peaches and cream for restaurants or their customers. Some of the more popular third-party delivery services charge fees up to 30%, forcing restaurants to add a premium for delivery to their bills. So, as these things tend to go, it’s the end users (i.e. all of us) ultimately covering that cost.

To be fair, it’s not like restaurants can easily opt out of using online delivery services, as that would lead to a drastic drop in orders and revenue. Not to mention that the middlemen can hinder restaurants from building better, long-lasting relationships with their customers. If the food comes in cold, it’s the restaurant that will get a low rating, not the app.

That’s why Bistroo takes the middleman out. By directly connecting foodies with restaurants and reducing the latter’s overhead costs compared to Web2 apps, Bistroo enables restaurants to charge lower prices. The platform also provides restaurants with a program that eliminates transaction fees completely for a fixed monthly fee. Bistroo users will be able opt out of data-sharing or get token rewards for opting in. Additionally, both restaurants and consumers will be able to unlock other rewards with the $BIST token, such as lower service fees. $BIST will work as the incentive to reward contributors to the network once it launches globally.

The service is already available in the Netherlands, counting a total of more than 100,000 users, and is now expanding into Belgium.

As part of the integration with peaq, Bistroo will set up the infrastructure for migrating 25% of its token supply from Ethereum to peaq, including a bridging smart contract, and will also build a staking mechanism on peaq. It will implement its token-based loyalty system on peaq and set up rewards for reviews and referrals on the home of DePIN. Bistroo will connect these functions with its user-facing app and develop a map of restaurants that users can contribute to. It will implement peaq IDs as the identity standard on its DePIN, implement rewards for restaurants, and hold an official token generation event on peaq.

“Web2 delivery apps charge outsized fees on restaurants while profiting from user data. This equation doesn’t work for restaurants or their clients. Bistroo is offering a more sustainable alternative, and peaq’s Modular DePIN Functions and DePIN-friendly economics will boost us on this mission, enabling us to expand the app’s core functions and bolster its growth.”

— Bas Roos, CEO of Bistroo

“Online food orders have become a staple of our daily lives, but the Web2 approach of the industry is smothering restaurants and forcing hefty premiums on users. Bistroo lifts this burden from both restaurants and their clients, resulting in a fairer and more transparent ecosystem. We’re thrilled to see it choose peaq as the layer-1 blockchain to power its exciting platform.”

— Till Wendler, co-founder of peaq

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