Ever heard of Blockchain technology? I am sure you must have had, and the very first thought that comes to your mind after listening to this term is the financial traction ease.
You may not have ever thought that Blockchain technology can have far beyond usage than its conventional approach and it is none other than within the Restaurant business.
Curious what am I referring to even?
Well, hold your breath, because in this blog post I am going to bring your attention to the Blockchain technology being used in the restaurant business.
So what are you waiting for???
Let’s get on a tour and find out more with this blog read…
Restaurants and blockchain
Yeah, this is the most uncommon combination you might have ever heard of since Blockchain is supposed to be more precise to financial transactions only, but this is where technology enhancement has proved it to be wrong. It is no more restricted to financial information, debits, credits, or any other sort of financial info where data gets stored and recorded.
But there is much more than meets the eyes, to help you understand it fully, we have brought you this post here, so you can grab a closer look and make it a very much part of your restaurant business.
Radical transparency
Since the very concept of Blockchain technology is totally based on decentralized technology, it is helping new forms of trust to be built in and around the food industry supply chain. It does help the restaurant industry to deliver better quality food to the customers and as it gives a clear approach to the seed to sale cycle. With the blockchain technology, it becomes quite helpful for the restaurants to get detailed insights and get the information related to the fresh products to deliver new benefits to the fresh food industry. Further, blockchain technology enables the existing internet system to save the information on a single server where the entire information gets stored.
Data is safe
The reason Blockchain has become the apple of the eye in the app development industry is due to many factors, and one of the most relevant ones is immutability. Any type of data entered in the blockchain cannot be modified/tampered with, this makes the data recording safe while giving a layer of protection.
Real-time data verification
The delivery executives getting associated with a restaurant also need to go through a full-fledged authentication process, as security has to be taken into account at every step. However, amid the pandemic, to keep the documents of every executive individually is not feasible and requires a detailed procedure. To cut the woes, the integration of blockchain technology brings convenience at its best. Here, you can include this technology, and remove the inclusion of any third-party to authenticate and match the documents shared. This not just makes the verification process faster but also gives it a shield of protection as well.
Secure payment
To get the food delivered on their doorstep amid the pandemic is nothing but a blessing, but when it comes to making the payment, users are a little reluctant to make online payments, due to the fear of cyber theft. However, restaurants can tackle this situation, with the help of a Blockchain smart contract, which doesn’t keep the payment data in one central authority. And it further lets transaction records to be stored as blocks, which cannot be hacked or changed. It goes without saying but there is not an inch of theft concerns available, rather they make the platforms as strongly secured as possible
Factual rating and review
The worth of reviews and ratings cannot be taken for granted, as they help any business to grow and flourish. And in the restaurant business, these both aspects have a strong value and help in making the informed decisions. Here restaurants can integrate blockchain technology to offer authenticated versions of reviews and ratings, where data cannot be altered, and provide information that is authentic as possible. This results in building the trust factor in the restaurant.
Cuts down food wastage
Wastage of food is a very much obvious aspect that comes along with every restaurant business and costs restaurant tons. The surplus amount of food is a real concern that needs to be addressed, and this can easily be managed with the integration of Blockchain technology. It enables restaurants to keep a record of customer buying patterns, food shelf life, inventory, weekend demands, and many other valuable insights that help restaurateurs to minimize wastage.
Food for thought
Let’s accept the fact that Blockchain is an evolving technology and has a long passage to cover. With time, definitely, there will be better functionalities and features that will come forward to help different businesses and industry types to make a digital move.
The future of Blockchain apps is very robust and is likely to grow strong with time, with the hope that this technology would surprise every industry with advancing functionality, I sign-off for today.
Read Also : How to Build a Blockchain-Based Food Delivery App?
Stay tuned to this space for more tech-related information moving towards your way.
