Bitenet: A global blockchain powered loyalty system for restaurant economy

Abstract

Bitenet is an independent and decentralised loyalty network that creates multiplier effect for the participants of restaurants economy. Bitenet's all-in-one Web3 solution includes native hardware machines, software applications, blockchain and $BITE token. The solution encourages participants to contribute, earn, engage and eventually leads to industry growth. In Bitenet ecosystem, the are two main type of participants, System User(Restaurant) and Contributor (Customer). The end goal is to create mutual benefits to all participants that allows restaurant economy lands on Pareto Efficiency.

Pareto efficiency is defined by economists as a situation where no one can be made better off without making someone else worse off.