BlockFood BFT ICO Review

Ever wonder whether there exists any hidden costs when ordering food online? Looking for a transparent system that will keep consumers on track of every cost? In many cases, whatever the service may be, consumers never truly know how much the products or services provided costs.

This is because of authorities, who have the power to decide what price to set, how to distribute it and much more. Fortunately, consumers no longer need to fear of overpaying for services that are not worth all that much and this is thanks to the BlockFood.

The following will introduce BlockFood in terms of its purpose, team, architecture and available token sales. The goal here is to ensure that consumers have a better idea as to how a decentralized system works.

What is BlockFood?

BlockFood, created by the Open Sharing Economy Foundation, is a decentralized system that has been created to ease the connections between customers and restaurants. The entire project is said to be founded on fair revenues and smart contracts.

Who is Behind the BlockFood?

The founder and CEO of BlockFood is Conrad Lelubre, whose goal is to contribute towards versatile communication projects, develop new partnerships and potentially manage administrative tasks.

When considering his background, he appears to be an asset to BlockFood because of his experience in software industry. The project manager in this team is Paule Sicoit and Julien Leroy as the CEO’s advisor. Other team players include the designer, and development team.

Although the team contains several members, their overall experience does not appear to be adequate for the use of blockchain technology. With many existing competitors within the cryptocurrency fields, it is important to stand out, and this is something the BlockFood’s team still needs to work towards.

What Can Be Said About its Architecture?

In terms of making use of the BlockFood, consumers will only be able to do so by using BlockFood Applications, which includes a mobile and web application. Using an API is believed to induce communication with micro-services or Blockchain workers.

Moreover, it handles every objects with regards to the BlockFood platform itself including users, restaurants, menus, couriers, localization, and security to name the least.

Lastly, BlockFood is believed to have his own wallet to ensure that transactions have been successfully and safely processed, while protecting existing funds within one’s wallet. Currently, this service is offered in both iOS and Android phones.

How Does BlockFood Work?

First, a customer must select the restaurant and courier of choice. This is done using smart contracts, where appropriate funds must be validated. This protects restaurants, as they can confidently carry forward with an order because it has been confirmed. After the restaurant has accepted the order, issued the preparation time and has completed the order, the courier will be informed.

After the courier picks up the order and calls a specific function from the smart contract to prove his or her identity. The specific function will be called again to inform that the courier met with the customer and finally BFTs will be distributed to the appropriate players.

Is BlockFood Offering a Token Sale?

The BlockFood project is believed to launch its own cryptocurrency called the BlockFoodToken (BFT), which has been created with the hopes of improving and bringing the respective platform to new heights.

Although the pre-sale has ended as of February 8, 2018, the final token sale is said to commence March 8th and will end April 12th. The maximum is currently set at 1000 Ethereum (ETH) or $600,000, with a minimum contribution of 0.1 Ethereum.

Final Thoughts on BlockFood BFT ICO

Overall, the idea behind a decentralized, online food service provider is commendable as couriers, restaurants and consumers will have either earned or paid the amounts that truly reflect the service.

Such hidden costs will automatically be eliminated because there is no existence of a head or third party. However, there already exists several food services that deliver straight to one’s door like SkiptheDishes or UberEats, therefore making it less innovative.

A problem that may arise with such a system is being able to encourage restaurants to agree to participate, as trust plays a fundamental role and cannot be easily earned. To follow up on BlockFood’s future plans, check out: https://blockfood.io/.

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