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FoodNation: A Fair Food Delivery Marketplace

25 Feb 2019

FoodNation is the Estonian project that has taken up the task of disrupting the current food and restaurant industry through the development of blockchain-based food delivery marketplace. The core idea behind the concept is to remove big corporations from the food delivery chain and establish an online marketplace premised on fair competition and fair distribution of profits and other material benefits among all participants in the network, namely restaurants, consumers, sellers, promoters, and investors. FoodNation is currently in the pre-ICO stage with the ICO timeframe being established from the 1st of April till the 30th of June.

A detailed insight into FoodNation

FoodNation is being developed by a team of tech enthusiasts and entrepreneurs from Brazil. Igor Montella is the founder and also a software developer who ’s associated with such projects as Rapiddo and CodifyNinja. Other team members include Fan Yang Chun, the business advisor and the founder of Emmental, and Felipe Carvalho, the head of technology design, who has previously worked with Igor Montella at Rapiddo. Various ICO review platforms had verified all of these team members.

This main issue that the team tries to address through the implementation of the Ethereum-based blockchain is the establishment of the oligopoly of global conglomerates within the market of online food delivery. According to the official statistics concerning the market share of food delivery orders in the United Kingdom, the following four service providers: Just Eat, Hungry House, Deliverloo, and One Delivery, have occupies 95% of the total market thus bringing the chances of smaller-scale companies to naught.

The project’s mission is to address such a blatant injustice by establishing an unregulated blockchain-based marketplace that would be developed, controlled, and driven by the community of buyers, sellers, and restaurant owners.

FoodNation’s core product is a mobile app of the same name. The essential idea of this app is to eliminate any third party from the process of ordering and delivering food which aligns perfectly with the philosophy of blockchain.

In layman's terms, the customer will use the FoodNation app to browse for the nearby restaurants that prepare his favorite food. Once the user finds the meal to his liking, he places the order with the restaurant which goes directly to the food outlet via the blockchain network. The restaurant prepares the order and delivers it to the customer on its own accord. The payment in the form of the ERC-20 compliant tokens called FOOD is then transferred via the FoodNation platform. Apart from consumers and restaurants, the network will also feature the sellers and promoters whose task would be to attract new users and service providers to FoodNation, as well as developers who will be responsible for the maintenance and further development of the blockchain platform.

ICO information

As for the ICO, FoodNation will be selling the tokens at $0.05 per FOOD. The minimum purchase is established at 0.5 FOOD while the maximum would be 1000 tokens. FoodNation will offer 350 million tokens for sale with the soft cap established at $1.2 million and the hard cap at $12 million. As of now, FoodNation doesn’t feature any airdrop or bounty programs. This blockchain project has received generally positive scores at the ICO review platforms.

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