2020 was a tough year for every kind of business and changed the whole scenario of accessing services around us. When certain projects had to be shut off, then there was a ray of hope risen from the technology as well, that brought every business to an axis point to operate with flying colors.
Here, you cannot go without mentioning blockchain technology, which has the required essentials within its spectrum to draw every possible attention to it. The constant evolving experience in this technology has made it move and expand its wings to the new horizon of the restaurant industry as well.
What is Blockchain?
Yeah, this is a million-dollar question, so much before delving into other aspects of this post, let’s find out more about it. Blockchain is basically a ledger, without any inclusion of middleman, and this tech trend is not sufficed to the financial sector only, but the sky is the canvas for it, to paint it blue with its incredible set of advantages.
Restaurants and Blockchain
For a layman the terms like blockchain, bitcoin, and cryptocurrency sound more related to finance, and here we cannot figure out that how this very technology will be helpful in the food business.
Yes, this is the confusion that stays within every restraint owner’s mind that how financial sounding technology can help their food business. Honestly, the fact is far beyond this image! Since we all know that Blockchain has surpassed the imagination, and has beautifully invaded the space of different businesses across the world, the food industry is no exception to it.
To your surprise, there is not just one but several applications in the food industry, and for restaurants, in particular, laden with blockchain technology. With the help of these apps, restaurants are able to run their business operations more efficiently and collecting information from food sourcing to reviews and promotions. So with this blog post, we are going to bring you closer to certain obvious advantages that are hard to be ignored by the restaurant industry.
Advantages of Blockchain Technology in the Restaurant Industry
1. Maintain food quality
A good restaurant is all about good food quality and safety and failing to mark these two major attributes, there is nothing that can help in earning customer loyalty. To increase food safety, bigger brands such as Walmart and others have integrated blockchain technology to maintain food quality and safety. It helps in tracking the product throughout the distribution cycle from source to the restaurant, so the image of the restaurant cannot be tarnished.
2. Food delivery
Yeah, the food delivery has always been an issue rather than a concern for the restaurant owners, as there can be numerous reasons behind this delay. In such a situation relying on third-party food delivery services can create a further ruckus, but not anymore, as blockchain technology is here to ensure that the food delivered is high quality. It penetrates the layer of the food delivery system and runs quality checks right from source to the restaurant to customers. It removes the clutter of middlemen, which further dictates restaurants and the food delivery service a greater profit. Security measures that can be missed during the usual delivery process, are met with efficient process and the credit goes to blockchain technology only.
No doubt it enables a faster and secure way to function for the restaurant owners and ensures a satisfactory customer experience.
3. Smart Contracts for Food Ingredients
Many of us have different religious beliefs, health concerns, or even preferences, where we don’t want to take particular ingredients used in a dish, to ensure they are getting what they are being told. If a vegan customer walks down to a restaurant and is looking forward to enjoying a local bread, and wants to know if bread he/she is ordering is free from dairy and eggs, so he/she doesn’t need to rely on the words only. But here the smart contracts come into the picture, where blockchain technology uses the smart contracts, which helps in placing the order only when the bakery discloses its ingredients privately to the customer. On a larger scale, this is very helpful for the restaurants to earn trust from their customers. With blockchain technology, the food industry can record the origination of food products, so consumers no more get a feel of being duped or cheated in the name of the right products. But now they can check on their own, much before getting it placed on their tables.
4. Experience Quality Reviews
The misleading or fake reviews bring no good for restaurants or customers alike, as they are mostly written without acknowledging the identity of the author. Hence, create a scuffle that which comments are honest and which are fabricated, and in the long run, can impact wrongly on business branding or customer trust.
Here Blockchain technology comes to the rescue and offers a seamless and much transparent way to share reviews. Here it ensures that not a single review gets altered, or can be deleted by the restaurant owner. This keeps a sheer platform for the customers to understand in-depth the reviews shared for their offered services. And no prize for guessing but it enables them to make smart and informed decisions.
5. Encourages Customer Loyalty
To spark new customer interest in the restaurant business, Blockchain helps in building a loyalty program, where it can run a better revenue funnel program fitting the customers’ needs, across the chain of restaurants, spreading across the globe or a country or city only.
Food for thought
Well, let’s accept the fact that Blockchain is still a new and emerging technology, and has a long way to go. Hence, it is very likely that coming years would witness a new set of technologies to ease down the woes of the restaurant industry. In the current scenario, this technology is transforming the way businesses interact with their consumers, and offering an incredible platform to the restaurant industry.
It will surely cross leaps and bounds to create that mesmerizing approach around the restaurant industry to serve customers with better traceability and supply chain management among many other benefits.