Qykbar aims to be “the Uber of the alcohol industry.” Find out how they plan to accomplish that goal today in our review.
What is Qykbar QYK?
QYK, found online at QYKBar.io, lets bars buy and stock alcohol worldwide using a convenient online platform. The platform is built on blockchain technology.
The goal of QYK is to create the best way to buy, stock and consume alcohol worldwide.” The platform aims to be “the bar of the future.”
Basically, QYK will allow consumers and merchants to enjoy better flexibility over their alcohol purchasing options. It will lower prices, reduce middlemen, and enhance efficiency across the alcohol industry, allowing consumers and merchants to order directly from suppliers at lower rates.
A token sale for QYK tokens is taking place throughout February and March 2018.
How Does Qykbar Work?
That blockchain will provide customers with their own personal bar on the cloud. What does that mean? Well, QYK will allow users to choose and stock their favorite drinks on the cloud for consumption at any bar of their choice.
Consumers don’t have to worry about high prices because QYKBar will standardize drink prices across different bar categories.
As an initial press release announcing the token sale explains, “imagine having your favoruite drink stocked on cloud for you, ready wherever you go.” That’s the type of service QYK aims to offer.
The QYKBar platform will give consumers a frictionless way to stock alcohol on the cloud and consume it at standardized prices anywhere in the world. Additionally, QYKBar will benefit bar merchants by giving them a platform to manage inventory and gain more customers. Bars can also combine their supply orders with other bars to get bulk rates from suppliers with no middlemen involved.
Overall, QYKBar aims to be the world’s first decentralized platform to buy, sell, consume, and trade alcohol on the cloud. The platform will allow bars, consumers, distributors, and suppliers to interact with each other in a frictionless marketplace. These participants can share bulk alcohol, combine their buying power, and optimize their inventory. It provides democratic access to alcohol – similar to how Uber democratizes the world of transportation.
All transactions on the QYKBar platform will take place using QYK tokens.
What Problems Does QYKBar Seek to Solve?
QYKBar’s whitepaper identifies several problems for consumers and merchants in today’s alcohol industry, including all of the following:
Problems for Consumers
- High prices of drinks at bars
- Forced to prepay and stock bottles to enjoy low prices
- No freedom of buying partial bottles at the same price
- No way to buy bulk alcohol for consumption anywhere
Problems for Merchants
- No automated way to track inventory at bars
- Huge costs to stock hundreds of different varieties of alcohol
- No way to fulfil small orders of high movers instantly
- High cost of supplies as distributors monopolize markets
QYK aims to provide all of the following benefits for both consumers and merchants, solving all of the problems listed above:
- Consumers can stock drinks in any volume on the cloud
- Consumers enjoy permanent happy hours, anytime and anywhere
- Consumers can return unused drinks to the cloud
- Consumers can use a virtual credit card for payments
- Merchants can increase sales by letting bars stock inventory on the cloud for selling
- QYK helps bars reduce wastage by optimizing inventory tracking
- Efficient inventory tracking and ordering helps to improve margins on alcohol stocks
- QYK provides decentralized buying and fulfilment options to bars, helping them reduce the cost of goods
The QYKbar QYK ICO Token Sale
The QYK token sale is scheduled to begin with a closed sale from February 15 to March 15. A pre-sale will take place from March 15 to March 31, with a general crowdsale from April 7 to May 10, 2018.
QYK has set a hard cap of $40 million USD for its token sale. They’re accepting credit cards, bitcoin, and Ethereum for contributions. All stages of the crowdsale have a minimum contribution amount of $100 USD, although that limit rises to $1000 USD when contributing with credit cards.
Who’s Behind QYK?
QYKBar is led by Vlad Dobrov (CEO), an international entrepreneur with 15+ years of corporate financial experience at multinational corporations worldwide. Dobrov is based in Singapore. He founded QYK in September 2017.
Other listed members of the team include Roger Zimmermann (Chief Product Manager), Dr. Sead Muftic (CTO), and Ragu R Raman (COO).
QYKBar already has partnerships with 350+ major alcohol brands. QYK deals directly with brand owners through sole importers, which removes the need for middlemen. QYK has direct partner access to more than 350+ spirit, beer, wine, and RTD brands. Some of the listed providers include Carlsberg, ABinBev, SABMiller, MHD (Moet Hennessey DiaGeo), William Grant & Sons, Suntory, Heineken, and Pernod Ricard.
QYK will initially focus on key regions across the Asia/Pacific region, expanding across the region throughout the second half of 2018. Expansions are being planned for Australia, Thailand, Indonesia, Japan, and the Philippines.
QYKbar QYK ICO Conclusion
QYKBar, or simply QYK, is a frictionless marketplace for the purchase, sale, consumption, and supply of alcohol. The platform will offer alcohol at standardized prices to bars around the world, making it easy for anyone to order alcohol at a reasonable rate.
The platform uses QYK as its native token. A token sale for QYK tokens is taking place from February to May 2018.
Overall, QYKBar sees itself as the “Uber of the alcohol industry”. You can learn more about the platform and the ongoing token sale by visiting online today at QYKBar.io.