Bitenet Eat to Earn

Bitenet’s "Eat to Earn" model leverages Web3 technology to eliminate the middleman between restaurants and customers, allowing both parties to benefit more directly from the transaction. Here's how it works:

Traditional Model (with Middlemen):

• Limited Customer Connection: The restaurant typically has no direct access to customer data, making it hard to build long-term relationships.

Example

Restaurant Promotion: A restaurant offers a 10% discount on a $100 bill.

Middleman Fees: Whether the transaction itself occurs directly or indirectly through the middleman, the restaurant always pays for listing services, advertising, or other indirect fees. For example, platforms may charge a 10% fee for bringing the customer to the restaurant or advertising their promotion.

Restaurant Revenue: After the middleman’s cut, the restaurant receives only $80 from the $100 bill.

Customer Benefit: The customer gets a 10% discount, saving $10.

Bitenet’s Web3 "Eat to Earn" Model:

• Direct Connection: Bitenet connects restaurants and customers directly, using Web3 technology (blockchain, smart contracts) to bypass platforms that typically take a cut.

Example

Restaurant Promotion: With no middleman fees, the restaurant can offer a more attractive discount, say 15% off on the same $100 bill.

Restaurant Revenue: The restaurant keeps the full $85 revenue (instead of $80), even while offering a better deal to the customer.

Customer Benefit: The customer enjoys a larger discount ($15 instead of $10) while the restaurant retains more revenue.