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Blockchain technology is a major force, making waves in all markets, from retailers to restaurants. Fast and casual leaders need to pick up this technology if they want to stay in the vanguard or risk being left to eat the dust of their most moving competitors.
Fortunately, one of FastCasual's sister publications has you covered. Blockchain Tech News is like a continuing training course for restaurateurs and other retail businesses on a confusing topic. And since this website has an "in" with the publisher – Bradley Cooper – it has given us the weak point on how restaurant leaders can use the blockchain to help manage their businesses.
"The blockchain is a decentralized ledger, which is immutable and completely transparent," Cooper said during a recent Q & A session. "The bitcoin wiki describes it as" a transaction database shared by all participating nodes. to a system. A complete copy of a currency's blockchain contains every transaction ever performed in the currency. For this information, you can find out how much value each address system belonged to anywhere in the story. & # 39; "
This means that the blockchain serves as a public ledger, where each transaction is recorded and recorded by a group of users.It is the backbone of bitcoin, a decentralized virtual currency.
Users confirm transactions through a process known as mining, where users lend the processing power of the computer to solve mathematical equations to confirm and register bitcoin transactions.
was the first to use blockchain, it is not the only one app for this Ethereum has also recently developed its own blockchain, and each cryptocurrency also uses some form of the blockchain.
Continue reading for more information on the blockchain.
Q: For restaurateurs, like the blockchain is used and what other uses outside the virtual currencies could affect the foodservice brands and their leadership
A: For one, can skilled the so-called "smart contracts", which are computerized phases designed to verify and apply the performance of a contract digitally, meaning that they allow credible transactions without verification by third parties because the register itself provides evidence of such transactions and all people involved.
Q: Why do these approaches help restaurateurs be more competitive in an ultra-competitive market?
A: There are many ways in which blockchain technology can help restaurants be more competitive. First of all, it can offer a key customer demand: transparency.
Suppose you have a restaurant that prides itself on organic food grown or raised in healthy environments. But how do you prove your food is healthy and organic? With tools such as managing the supply of blockchain, a restaurant can follow livestock, for example from farm to table. They can then provide this information to customers in order to get an exact idea of what they are eating.
At another level, blockchain can offer better loyalty programs. Restaurants can use blockchain loyalty platforms to offer tokens to customers, which they can use to redeem purchases or get discounts. They can use these unique platforms as a marketing tool, as Oscar Mayer did for his intriguing Bacoin project.
Q: How does Blockchain Tech News help restaurateurs make sense of this seemingly complex technology and its potential applications?
A: Blockchain Tech News provides industry news that everyone can understand. You will not find complex formulas on this site! It will provide key news on blockchain platforms and developments that will have a direct impact on restaurants, and will explain how these solutions work.
Blockchain Tech News also provides several basic guides on how Blockchain works and how it affects each industry. [19659002] Q: If restaurant managers have questions about this topic or wish Blockchain Tech News to provide coverage that could help their businesses or even have a blockchain success story to tell, how should they contact you?
A: Of course! If they wish to get in touch, they can always send me an email to [email protected] or contact me on Twitter @CooperBradleyc .
Photo: iStock
Before joining Networld Media Group as editorial director, where he oversees Networld Media Group's nine B2B publications, Cherryh Cansler was responsible for content at Barkley's advertising agency. Kansas City. During his 17-year career as a journalist, he has written on a variety of topics, ranging from the restaurant industry to technology, health and fitness. His signature has appeared in numerous newspapers, magazines and websites, including Forbes, The Kansas City Star and the American Fitness magazine. He is also responsible for the editing of FastCasual.com.
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