Technology

How Blockchain Can Change the Way in Which Restaurants Work

Restaurant owners can make use of blockchain platforms for a variety of different purposes.

Even though the term blockchain has been in the news for quite some time now, it is almost always used exclusively in relation to the crypto industry or projects that are affiliated with the finance sector. That being said, the technology is not just confined to such niche’ domains as its use cases have been rapidly expanding into newer spaces such as healthcare, telecommunications, hospitality, etc.

In this regard, it bears mentioning over the course of the last couple of years an increasing number of restaurant owners have been steadily incorporating blockchain-based governance protocols into their existing operational frameworks since the technology affords them a number of tangible benefits such as food source tracking, verification of customer reviews, seamless community promotions, etc.

Restaurants and blockchain

Straight off the bat, it would be beneficial for our readers to understand what exactly it is that makes blockchain so unique. In its most basic sense, it can be thought of as a ledger that can be used by businesses for recording their daily monetary transactions. 

However, the core difference between blockchain-based ledgers and traditional one’s lies in the fact that they are distributed, immutable, and verifiable, which when put in layman’s terms means that the data contained in them is stored on multiple devices simultaneously and all of this information can never be tampered with in any shape or form.

Now with that in mind, within the context of a restaurant business, owners can make use of blockchain platforms for a variety of different purposes. For starters, they can use them to ensure the quality and safety of their food supplies. 

For example, multinational corporations like Walmart, Nestle’, Carrefour currently make use of such systems to ensure that their food items can be traced from farm-to-store. This simple concept can be further expanded to factor in restaurants into the equation i.e. farm-to-store-to-restaurant. 

To be a bit more specific, if a certain package of chicken comes from a farm that has recently experienced an outbreak of salmonella or some other infectious virus, blockchain can help trace the product through the course of its entire supply chain cycle, allowing for its easy identification/isolation, thus helping preserve a restaurants’ market reputation.

Not only that, the technology can also ensure that owners are able to weed out any food produce that they find to be of low quality by tracing the supply to its source, thus only taking orders from individuals that are routinely able to deliver high-quality goods.

Customer satisfaction GUARANTEED

Another core aspect of blockchain is that it puts restaurants in direct contact with their end consumers, allowing them to know everything about the establishment. So for instance, if a food outlet prides itself at using a certain quality of ingredients (i.e. organically grown produce, locally produced veggies, etc), using blockchain’s tracing capabilities, individuals can ensure that what they’re getting on their plate is of the quality they are being promised.

Similarly, false and misleading restaurant reviews are a growing problem within the hospitality sector since it is possible for anyone to leave misleading comments about an establishment without them having to reveal their identities. In that sense, blockchain can allow restaurant owners as well as other potential customers to ascertain reviews that are genuine and those that have been fabricated solely to tarnish an outlet’s reputation.

Other aspects worth highlighting

Recently an increasing number of companies are beginning to make use of blockchain-based delivery services that can allow users to ensure the quality of the food that is being prepared for them in real-time — basically allowing them to keep an accurate tab of their food’s lifecycle, from its preparation in the kitchen to its final handover to the customer. 

Not only that, through the use of such platforms, it is possible for the presence of any middlemen to be eradicated completely, thus allowing delivery agents and restaurant owners to draw in larger profits on every order.

However, the biggest draw of blockchain in regard to food delivery is the payments side of things. For example, the technology allows for B2B (biz-biz) payments, as a result of which manual transactions are minimized and the entire payments cycle is automated thanks to the use of smart contracts, which can be thought of as self-executing pieces of code that can eliminate the scope of any human-error (regarding accounting, data entry, money handling, etc).

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