Small & quick transactions, like required in restaurants and bars, are not realistic with Bitcoin or Ethereum due to huge price fluctuations, long transaction times, and high fees. The Bitcoin network isn't ideal for these type of transactions and the prior knowledge required by the business owner limited its reach to technologically advanced users only. MenuBuzz radically changed this by offering businesses a simple interface for their diners to order and pay with crypto which is converted and deposited into the merchants account in dollars. Now the business owner doesn't have to understand what a blockchain is in order to accept cryptocurrencies. Exceptionally simple, but powerful in its simplicity.
MenuBuzz accomplishes this through their utility token aptly named MENU. MENU Tokens are vouchers redeemable for food & beverages via the MenuBuzz website. Similar to digital gift cards, MENU Tokens are prepaid and can be exchanged or gifted to anyone else.
MenuBuzz sallows the platform’s users to order from their own smartphones while in the restaurant. Now users can order and pay from their own devices on their schedule, saving time and money.
MenuBuzz makes servers more efficient by allowing the customers who don't wish to wait for a server to be able to order themselves from their own device. This not only makes servers more efficient, it also increases sales. With labor costs increasing, MenuBuzz empowers servers to be more efficient so restaurateurs can afford to retain the best.
MenuBuzz accelerates widespread crypto adoption enabling their usage in perhaps the most popular, everyday transaction: the purchase of food and beverages. Restaurants and bars are not required to be holders of a cryptocurrency wallet because the Menu Tokens that are spent in the restaurant are immediately and automatically converted into fiat currency for them.
MenuBuzz is a off-chain solution that takes the burden off the blockchain for smaller sized purchases. Customers need to fund their MenuBuzz wallet before they can make purchases. They fund their wallet through a variety of methods including Bitcoin, Ethereum, or MENU.Once their wallet is funded they can choose to purchase food and beverages through participating merchants or they can withdraw their tokens to their wallet. The benefit of using an off-chain wallet is there are no customer transaction fees for each purchase, transactions are instantaneous, and it doesn’t slow down the main network with a lot of small purchases. Customers pay the blockchain associated fees to transfer to and from their wallet but they don’t pay any transaction fees on MenuBuzz.
As with any good Loyalty Program, rewards are coveted and bring benefits earned by the customers participating. In the MenuBuzz Loyalty Program, customers who pay with crypto receive a percentage back in for future purchases at any of restaurants in the MenuBuzz network.
Success Coach to Blockchain Startup Project Teams. Rated on Jun 16, 2018
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23%
This is a really bad idea with use cases that make no sense whatsover. there are far too many products out or coming out that will translate cryto to fiat on a pos system or chip and pin. I do not see any reason for there to be another, especially one that has an exclusive application such as this. You can see based on the Benchy evaluation there has been little or no effort in engaging the community. I do not believe this to be a good investment and see 0 opportunities for ROI.
Entrepreneur | C-level | ICO Advisor | Blockchain Enthusiast | Ethereum model specialist Rated on Jul 8, 2018
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Nowadays it isn't enough to make a beautiful website and promise something in the future.
Now, to become a successful project and receive necessary investments it is important to:
- Innovation level - incremental - ➖
- Show the MVP (product, prototype) - Not clear ❌
- Strong Competitor analysis ➖many competitors
- Core Team ➖and not multi-position team
- marketing ICO budget ❌
- Events calendar ❌
- have agreements with exchanges ❌
- Business revenu Forecasting ❌
- show ROI to investors ⚠️
- have max. transparency ⚠️
- have legally protected product ⚠️
- work actively with the community ⚠️
- have a powerful team and advisors ➖
- meet investors F2F ⚠️
- have a descriptive WP (with clear financial model). ⚠️
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