Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Bistroo and our guests was @Bas_Bistroo. The AMA took place on 7 July.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram community
Andrés M. | Satoshi Club: Hello dear community, we have another great AMA session today with our friends from Bistroo project.😃
@Bas_Bistroo welcome to Satoshi Club, how are you today?
Bas: Hi!
Thanks for having me, and i’m very well. How is everyone here?
Very happy to be part of the Satoshi AMA club
Andrés M. | Satoshi Club: We are excited for this AMA session, a lot of users online waiting for it
Bas: Im excited too, I saw alot of good and quality questions on the website so looking forward
Andrés M. | Satoshi Club: We are glad to have you here. So, let’s begin with the AMA, please give us a short introduction about, what is your role into Bistroo project and how did you get involve on crypto?
Andrés M. | Satoshi Club: For sure, our members did a great research about your project😁
Bas: Hi everyone! My name is Bas Roos, a 30 year old entrepreneur from the Netherlands. After graduating from my MBA I came to work over at EY (Ernst & Young) and HeidelbergCement, and learned alot about (digital) Business Process management, and digital transformation.
When working in these business environments these ‘legacy’ (mostly ERP) systems, as a comparison to blockchain, always frustrated me a bit, due the way data is stored, processed, modifiable and transferred. There’s alot of friction in the way we (digitally) organise within our current state of society.
When I first heard about blockchain technology in 2015, I came to realize that, in time, this might be the technology to address those frustrations. Blockchain holds the potential to organise trustless and frictionless and thats what so amazing about it.
I’ve been active in the blockchain and crypto space ever since, first as a digital transformation advisor and blockchain keynote speaker, and later as founder and CEO of Bistroo.
Andrés M. | Satoshi Club: Great background Bas, I agree with you in that blockchain is the key to solve a lot of the problems of the companies.
Now, in a nutshell what is Bistroo? What is the essence and which problems do you try to solve?
Bas: Takeaway platforms have made it easy to enjoy our favourite meals, but they’ve made life tough for the restaurants we all love.
Current market platforms demand that restaurants pay disproportionate fees, while dictating control over everything within the process: data, pay-out and client relations, loyalty and interactions. It’s a stitch-up that results in higher costs for consumers and restaurants.
Bistroo puts an end to this, by providing a platform where businesses are back in full control.
We offer better user experience, lower transaction costs and a fairer and neutral infrastructure. Our job is to provide the tools, insights and support to facilitate a direct-2-consumer relationship for our merchants and users.
It is fully focussed on the infrastructure first, Platform as a Service utility.
With full decentralization of tasks and responsibilities, enabled by the protocol. A merchant is in full control over everything that has to do the THEIR store. Changing menu’s realtime, updating prices or inventory numbers, switching from preferred payment method, organize refunds or compensations, running promotions and/or ads, conduct commerce through direct contact with THEIR customers, and allow them to build a loyal customer base with their restaurant.
We facilitate, never dictate!
Andrés M. | Satoshi Club: Don’t you think it could be a problem in the current pandemic situation, I mean the restaurants were closed for a long time, that was a problem for you?
Bas: No, actually not at all. Alot of restaurants discovered the potential that the take-away and delivery markets hold within these dire times of the pandemic. The market has always shown great growth potential for the next decade, with double digit aggregated growth rates for most regions in the world.
But with the pandemic happening, some of this growth has been expedited and has helped us gain the initial traction for our live platform.
We are very much looking forward to normalized market conditions because our USP’s fundamentally hold up, with or without the pandemic, and we would like the restaurants to thrive!
We actually helped alot of restaurants stay in business during these uncertain times so thats something we are extremely proud of.
Andrés M. | Satoshi Club: Well, that’s important, to take advantage of the difficulties and try to evolve.
Thank you so much for this exciting introduction about the project😃. We have collected the best community questions for you, are you ready to proceed?
Bas: You’re very welcome, Yes looking forward to the live segment!
Q1 from Telegram User @Jonahapagu
Bistroo is implementing An incentivized review model to give consumers and users a trustworthy peer assessment of the quality delivered by service- or product merchants through its platform… so how does bistroo incentivize reviews on its platform and how is it ensured that only genuine reviews are available on your platform as this can go on to negatively affect your review model?
Bas: Thanks for this question. We have been thinking about this challenge alot during the design process.
Reviews should always reflect an experience transparently, even if its a negative experience. In order to ‘weigh’ a review there will be features to up- or downvote a review, affecting the amount of rewards that apply for that specific review.
For example, if someone had a negative experience and writes an extensive and helpfull review about this, this review could still get a lot of upvotes. Indicating this is a community valued review, recognition by the community masses will result in increased rewards. Therefore incentivizing quality reviews, over quantity, even if its covering a negative experience.
Application controls, posting and voting rules, and reward algorithms will ensure users do not
Bas: ‘hack’, or abuse, this system.
Andrés M. | Satoshi Club: Will be there supervisors checking the reviews? I mean there are rules against bad words and bad behavior?
Bas: Ofcourse, moderation applies. Automated as well as manual.
Andrés M. | Satoshi Club: Thanks for the clarification and the clear answer, would you like to add something before the next question?😃
Bas: We also allow merchants to respond to reviews and even compensate if they feel thats necessary in these cases.
So they can build a direct relationship, and loyalty through the system.
Andrés M. | Satoshi Club: Do you mean with a followers system?
Bas: I mean that they will be able to directly communicate with them, and if compensation should apply they are able to autonomously do so. Therefore investing in their customer loyalty and satisfaction.
Andrés M. | Satoshi Club: Oh got it, great idea👏
Q2 from Telegram User @meml97
From what I understand Bistroo aims to be this app where users will be able to find and pay for their ideal food without the need and trouble that could come with intermediaries between seller-buyer, but if I’m honest with you, Bistroo to me looks like another third party app involved in this process, so what is different on Bistroo to not consider it as such?
Bas: Thanks, we are building the protocol for direct commerce and never dictate the relationship between a merchant and a consumer. It is our job to provide every tool they need to do so, in a neutral and facilitating manner. We will never dictate how they should run their business, affect pricing, handle or hold payments, or even exclusively use the data that is generated, its their business fundamentally and the protocol is here to facilitate this.
Being neutral and transparent is key in this philosophy, and thats where blockchain will contribute in ensuring this as well.
Allowing the merchant to have full control over everything for them to conduct business is something that is currently unique in the industry and is a fundamental USP for us. We will always ensure this Peer2Peer, direct-2-consumer, dynamics stay in place.
This also means that at a future stage, the protocol/system transcends the current business that is developing the product and providing the service.
Current marketplatform control everything that has to do with the process: payments, refunds, inventory management, menu adjustments, customer contact, customer relations and data.
We allow the merchant to control all this through the protocol and software.
Andrés M. | Satoshi Club: That’s great, it differentiates you to your potential competitors. Btw, who are your current partnerships and how many businesses have joined your platform?
Bas: We are closing in on 300 merchants atm. Not only restaurants but also direct-2-home merchants that provide specialty products like wine, cheese, fresh produce, spices etc. We delivery those nationwide through partnerships with logistic service providers, like trunkrs.
We are aligned with the National Association of restaurant owners, that have validated our approach to their members and help us gain authority on the market.
We are onboarding our first big labels during the current quarter with New York Pizza joining our system with the first merchants in the coming weeks.
And we are also integrating with multiple PoS systems to have our orders flow into the management and sales systems and our merchants and make life easy for them.
Andrés M. | Satoshi Club: Congratulations, your ecosystem is growing so fast👏
Q3 from Telegram User @DK177
Due to the prevailing COVID-19 situation, food delivery platforms across the globe are facing several problems. Travel bans have been imposed in some countries. People tend to cook at homes in order to avoid health issues. Do you have any plans to overcome these problems and to make your service a stable one? If your service face difficulties, it can reduce the value of $BIST. Why did you introduce this kind of concept in the prevailing situation? According to 2020 year review, the platform was launched and the employees were hired during the pandemic. Don’t you think you should have postponed the launch? Can’t you achieve a greater success by launching in a normal situation?
Bas: We had been working on the project long before COVID-19 was part of our lives and have been designing the platform to fit for normalized market conditions and have competitive advantage in the long run. COVID-19 did change the market conditions but I dont feel we should have postponed because we were able to prove our added value during these dire times.
Orders have actually gone up alot during the pandemic because people still want to support and enjoy their favorite restaurant.
With the COVID pandemic, hopefully, coming to an end we will continue our mission to provide an cost-efficient alternative and help get merchants back to a thriving and healthy condition when serving the market.
The platform was launched on March 3rd, 2020, so that was before the biggest interruptions from Covid happened but we managed to pull through and grow during this time!
Andrés M. | Satoshi Club: I’m happy to know it doesn’t affected you to much
Btw, talking about $BIST token, where we can buy it and what are its main usecases?
Bas: You can also trade BIST Tokens on:
🐃 HitBTC (https://hitbtc.com/bist-to-usdt)
🦄 UniSwap (https://v2.info.uniswap.org/token/0x6e8908cfa881c9f6f2c64d3436e7b80b1bf0093f)
🔵 BiDesk (https://www.bidesk.com/exchange/BIST/USDT )
Bas: Payments: Purchase your food using BIST tokens against reduced rates compared to FIAT purchases. Cash-backs for using the token!
Data rewards: Share your consumption and order data & you will be rewarded with BIST tokens.
Ratings & reviews: Write community valued reviews for meals & services and be rewarded in BIST for contributing valuable info.
Merchant staking: Staking BIST tokens as a merchant will allow you to get discounts on commision fees.
Contribute: Be a valuable member of the community by, for example, onboarding your favorite restaurant or inviting your friends & receive BIST tokens as your reward.
Shopping: Merchants can use BIST tokens to purchase all kinds of store attributes to enhance their customer experience.
Premium features: BIST tokens can be used by merchants to gain access premium dashboard features at a significantly reduced price.
Smart advertisement: Merchants can use BIST tokens for advertising to their target customer audience.
Community & liquidity staking: Earn rewards for contributing to the network by staking your BIST tokens, or by providing liquidity.
We listed on HitBTC today acutally 😀
Andrés M. | Satoshi Club: More exchanges are in plans I guess😁
Bas: Yes, working hard on more partnerships and trading opportunities!
Andrés M. | Satoshi Club: Thank you so much for the clear and detailed answers🥳. @MihaiPisica please proceed with the next question!
Q4 from Telegram User @Highpee
In the month of May, you started Bistroo CORE V4 which will involve a complete redesign and revamp of your backend framework, consumer app and merchant dashboard. We are in the month of July and this version upgrade is yet to be released. Can you provide some update on Bistroo core V4? What should merchants and users expect with this new release? How will the new version address some factors that affect your efficiency such as the inability of merchants to synchronise their single account with the multiples stores they operate on your platform and the inability of users of this stores to be granted different levels of authorisation? What other customizable product flow features will user be able to have access to with Bistroo Core V4?
Bas: Great question and we have an extensive breakdown of the update coming out very soon so for all details please follow all our channels! The update has been scheduled for release in Q3 so stay tuned for that.
But like you mention it is big update for the scalability and accessibility of the platform, in order to prepare for a borderless utility to be hosted on Bistroo.com at a later stage.
It will allow for more flexibility and control over multiple stores by implementing an account vs location/store layers. When onboarding bigger chains of restaurants we noticed that we could make life easier for the owners to organise the back-office in such a way. This way they will not be operating multiple back-offces, for each store, but can manage multiple stores within one back-office environment login.
We will also be implementing user profiles and preferences so we can lay the foundation of our personalised user experience for our consumers. Another unique thing our platform has compared to ‘traditional’ market operators.
Bas: It will also allow store managers to have more flexibility in building menu’s for different distribution methods (take-away, delivery, location QR), for each store seperately. Or make certain menu’s available at adjusted prices or times during the day. Without affecting their core product configurations.
Andrés M. | Satoshi Club: So innovative, don’t forget to share coming announcements with us.
I would like to ask, is your platform international or is allowed only for few countries?
Bas: Currently it is only available in our launching market, the Netherlands. But we are expanding the Belgium later this year and with the launch of Bistroo.com we aim to make the protocol accesible globally. Depending on regulatory parameters.
We will share the announcements for sure, thanks!
Andrés M. | Satoshi Club: Thank you so much for clarify it😃
Time to proceed with our next question, @MihaiPisica please shoot it
Q5 from Telegram User @putra2005
As stipulated in your website, transfer of assets across various major public chains is available. How do you assure that your subscriber’s assets won’t be invaded by any hackers/scammers in the process of transfer?
Bas: Security is of utmost importance to us and we will do everything in our ability regarding testing, ethical hacking and measures to prevent the system to be breached. Smart contracts will be audited and tested extensively before being deployed. This is where we will not make an consession on safety, over, for example, speed of the deployment.
Andrés M. | Satoshi Club: Security first👏
Thanks for the answer, ready to proceed with the last question of this first part of the AMA?🥳
Bas: Yes for sure!
Q6 from Telegram User @Asela1112
Studying on $BIST tokenomics, 10%- seed, 10%- Team, 30%- Token sale & 50%- community rewards, staking, operations & partnerships have been allocated while not included any kind of burning mechanism. So why didn’t you integrate burning event on tokenomics? Which strategies will you use to avoid inflation on $BIST & mitigate the price volatility of $BIST without burning event? Can you tell about the primary concept, used to categorize $BIST on various purposes? Currently $BIST are built on Ethereum network as ERC20 token. We all know, Ethereum chain is more potential but with high gas fees. How about the transaction fee of $BIST & have you solutions for high gas fees? Will you launch $BIST on binance smartchain also in future? Will there be any exchanges in addition to UNISWAP to Buy $BIST tokens?
Bas: So thats a alot of (good) questions in one go! The biggest challenge for ETH is indeed the GAS fees and even though we feel Ethereum will overcome these challenges in the future, we will be looking for alternatives to expedite adoption with lower transaction fees in the meantime. Currently looking into layer-2 & bridging solutions and we have an announcement for this coming up very soon! Keep an eye on our channels to learn more on this in the next 2 weeks!
With these layer2/bridging solutions new venues for (DEX) listing opportunites will open up and we aim the utilize these to grow the community and ecosystem of BIST as fast as we can!
Burning events will still be an option to mititgate inflatory effects on the token and will be incorporated if deemed necessary for the ecosystem to thrive.
Bas: Curious about the LIVE segment!
Andrés M. | Satoshi Club: Great answers for great questions. Great job Bas, thank you so much for your time and patience💪😃
Bas: No worries, happy to do so and thanks for the great questions! High quality for sure
Andrés M. | Satoshi Club : Of course, like you said is time to proceed with the live segment of the AMA, a ton of good questions are coming 🥳🥳
Thank you for the kind words. Now we will open the chat for the community question and we we close the chat you should pick your 10 favorites to answer, are you ready?
Bas: Yes, lets go!
Part 2 — live questions from the Telegram community
Q1 from telegram username @Gutike95
I could read that each time Bistroo will become “more personalized”, but what do you really mean by it? Will it require more details of the businesses and user data in order to create a greater business-customer relationship?
Bas: Yes, only if the users explicity allows the protocol to use their profile and historical information we aim to have a personalised experience that fit you as a consumer. Meaning the ranking of stores, as well as promotions is more aimed at your own unique preferences and experience. This allows merchants to target segmented audiences as well, with promotions for example.
Q2 from telegram username @Ratash97
So who is in charge of the delivery process the merchant or bistroo ?
@Bas_Bistroo
Bas: Currently, it is the merchant who is in charge of the delivery process. Either themselves, or through third parties. We allow for technical integration with the major service providers to ease up this process.
Q3 from telegram username @johnclark_0
Bistroo is collaborating with Horeca Magazine. What is your business deal with Horeca Magazine? Why do you choose to be published in Horeca Magazine?
Bas: Our partners are aimed at providing educational content on our USP’s and what we do differently than our main traditional competitors. Building brand and concept awareness and breaching the initial gap between the image consumers have on platforms, and what makes Bistroo different to that!
Q4 from telegram username @Einsteinyl
Bistroo concept to combine blockchain and food industry is really innovative and unique, I believe you already doing some research before build this project. So I want to know, what issue do you think that food industry have for now? And what solution that Bistroo can give to solve that issue?
Bas: The main challenge is that food industry, on each channel, is highly centralised and untransparent. With the combination of our protocol and blockchain we would like to flip that model into a neutral and transparant way of organizing food consumption.
Q5 from telegram username Erbi Zuan
With the Bistroo making it easy for buyers without having to leave the house, what if the buyer doubts the cleanliness of the food/packaging on the road, How does the Bistro handle decent standards🚀🚀🚀🚀
Bas: We are currently working on getting partnerships in these areas. For clean and sustainable packaging to be offered through the back-office to our merchants!
Q6 from telegram username @Pratze
This year much people already give attention to NFT, and NFT become really popular. How about Bistroo? Do you have plan regarding NFT on your project and how will be your NFT like?
Bas: NFT is obviously a very big and major use case for blockchain and crypto and we are looking into integrating this in our platform as well. Examples could be; Recipes (Grandmother’s secret cookies) or images of Food.
At this time we dont have specifics on this use case yet but more will follow regarding NFT
Q7 from telegram username @messilolz
Many projects devs abandon for no reasons later and due to lack of experience . So are you an experienced team and is your team anonymous or public?
Bas: We have a fully public team and are expanding our dev (and other) divisions as we speak with highly passionate, educated and experienced teammembers. Longevity of the project is of the utmost importance.
Q8 from telegram username Erbi Zuan
Current conditions make people want sterile and healthy food, most likely people will make their own food at home Does the bistro also open partners who sell raw materials?
Bas: In the future we would like to expand our reach into B2B as well. Meaning raw materials can be acquired by merchants through the protocol. For sourcing and transparency on Supply Chain Management we aim to partner with other initiatives in the blockchain space that handle transparency of the supply chain.
Q9 from telegram username @Checkerbabu
Is there any incentive for promoters or ambassador who take it upon themselves to referred people to use Bistro ecosystem ?
Bas: Yes, we value community and ambassador driven growth above all. We are in the works of launching our first ambassador program in BeNe this week and will expand the program into other countries as soon as the utility becomes available there through Bistroo.com!
Q10 from telegram username @Korryl
I’m very curious why do you give your project name “Bistroo”? Is there any meaning or story behind that name? And where is the main idea come to use that name?
Bas: Besides being a great brandname it also signifies what we strive to be; an accesible and friendly environment for everyone to enjoy their favorite food, with your community!
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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