In white paper, in the section TECHNICAL IMPLEMENTATION there is a diagram from which it is impossible to understand the functioning of the system at all. Next is a description of the system's operation, after reading that, you are convinced that the circuit is made poorly. It does not reflect the sequence of actions of the system.
Also where are the figures from 20,000 transactions per day from 2,000 potential restaurants taken? There is no reason to think that these restaurants will be 2000. Also, the automatic creation of crypto-currency wallets and their connection to exchanges will not allow users to own private keys. All user tools will be in the management of the system.
And what advantages does the restaurant visitor get from the introduction of an extra link between them? I see only extra expenses for the visitor.
Sorry for short description of the diagram. We will have more technical details after first stage of ICO when we hire crypto dev team and they will bring more specific details based on our description. Consider it as technical requirements.
2000 restaurants is only 5% of the NYC market (City of 5 boroughs only). Absolutely doeble
Users will allow to store their private keys on reOrder prepaid cards. We have a credit card swiper on terminal
Visitors advantage is: bonuses, discounts, lowering ticket price because of automation, higher quality of service
Business advantage from cryptocurrency: no merchant fees between customer crypto-wallet and restaurant crypto-wallet which is usually 2,5%
@Shilnov, when you talk about bonusses, discounts etc, could you please explain? Because this is something I find really interesting. Is stuff like this possible:
"The fact that they start local instead of global is cool too. If just one block in the whole NY district starts to use this product, it's a success. I can see a small bar that shows commercials for their neighbouring cab services on the terminal and creates some kind of bonus/saving deal with them. I think it's quite easy to implement this in such a system. If one block uses this stuff and people are saving points or whatever, it would be very attractive for adjacent blocks to enter. Spreading like a wildfire. Would love a reaction on this brainfart by the team."
Get bonusses at one place and use them at another, all interchangeable and linked to eachother on your platform. All while advertising eachother's business. That would create cohesion in your local business community and create value for local customers.
