Meal buyers are the backbone of online meal servicing but they are compelled to eat at high cost and have very limited options to choose from. Additionally, there is no redress mechanism that allows them to complain about the quality of the meals or for dispute resolution. There is also very minimal information on the food items used, preparation, and servicing.
Sellers of the food, on the other hand, are faced with environmental issues that often result in failure and discontinuance of their businesses. They also have to pay high commissions to network aggregator and financial intermediaries. Sellers do not have a mechanism to identify low-quality services and are constantly struggling to compete with low-cost sellers.
GrabAmeal is the first decentralized meal serving network that is built on top of a set GrabAMeal collaboration and trust processes connecting meal sellers and buyers. Sellers will be able to come up with homely and affordable meals for their buyers at low cost, with minimum intermediation and increase the value of their business. GrabAMeal allows stakeholders to transact on the platform and adds value to their business and network.
GrabAMeal Is Based on Three Protocols
Identification– The platform has a mechanism for identity. The sellers or buyer lists themselves on the platform. The participants give their profile information. The ratings of the sellers are constantly adjusted by the GAM-Id algorithm on the graded scale and accurately and fairly categorizes the buyers and sellers.
Dispute resolution-The platform has audit and trace mechanisms that ensure quality and fairness while resolving disputes that might arise when participants transact in business dealings.
Reward– The platform has incentive mechanisms that redistribute value. The elaborate reward and incentive mechanism is based on participants transactions, feedback, and reviews. The rewards are allocated according to the participant’s reputation ratings and dispute history.
Benefits Of GrabAMeal Platform
The benefits of the platform include:
- It eliminates intermediaries in the meal online business due to the decentralized platform, which makes every meal affordable to buyers.
- The platform comes up with a management and reputation rating of the participants in the platform. This is an ongoing process that is based on the blockchain. This will increase trust in the participants business
- It distributes the value accrued from the growth of the network among the participants. Tokenization of transactions and rewards will lead to maximum benefits for all.
- The platform has a democratic mechanism that involves participants allowing them to resolve conflicts in a transparent and fair manner.
- Buyers can choose meals anywhere in the world, they can also preorder medals, pay in advance, and modify their orders based on the simple rules of the platform
- The platform provides an advanced set of protocols that include GrabAMeal identification, dispute resolution, and reward that is based on Artificial intelligence and MI
The platform introduces tokenization of transactions by use of the GAM token, which allows for trust, security, and value for the participants. It is an Ethereum ERC 20 based token.
The GAM Tokens that will be available during the ICO will be worth $5,000,000. Each of the token during the sale will be valued at 1GAM=$0.01. The accepted forms of payment include BTC, ETH, LTC, and DASH. The ICO will start on 1st June 2018 and will end on 18th July 2018.