Over the last decade, experts have been talking about getting the use of cryptocurrencies in mainstream daily purchases. However, seldom has any crypto project worked in a direction to make this a reality.
Now, targeting the coffee industry in particular, the BITCOFFEEN coffee is one such project that aims to change the dynamics of the game. BITCOFFEEN aims to create an engaged community of shoppers and sellers thereby creating an integrated ecosystem.
Coffee is one such drink loved and liked across age groups all over the globe. The platform has a unique cryptocurrency cashback rewards system dubbed ‘BitBack’ for shoppers which motivates customers to stay hooked to the BITCOFFEEN platform. Thus, it goes beyond the existing boundaries of the coffee industry by increasing consumer demand for coffee.
To ensure complete transparency and a fair play for its entire community, BITCOFFEEN uses the decentralized blockchain technology to directly share the profits to all members of its trading platform.
Besides, blockchain technology ensures participation for all by removing all intermediaries. This allows the BITCOFFEEN platform participants to receive direct benefits for their investments.
The BITCOFFEEN team working under the advise of Alex Sudadze aims to create a global network of retail outlets all interlinked in a single automated ecosystem. Mr. Sudadze is a crypto investor and trader and also the founder of Crypto-Cafe Georgia and Bitcoin Embassy Georgia. Thus, he brings his hands-on practical knowledge while developing the BitCoffeen platform.
Payments within the ecosystem are done through the native cryptocurrency dubbed as BFF coins. The BFF coins are currently available for trade on two crypto exchanges named Crex24 and Livecoin.net.
But to understand how BITCOFFEEN provides a great investment opportunity, let us first understand the working of the ecosystem.
BITCOFFEEN Ecosystem – Offering SMART Rewards in BFF Coins
Businesses across multiple industries like the airlines, credit cards or restaurants entice new customers by offering them reward points and other loyalty discounts. However, these systems are isolated in themselves wherein users usually end-up without availing the maximum benefits before the rewards points expire.
The blockchain-based BITCOFFEEN coffee platform will ensure that everyone gets their share of profits from the entire coffee industry combined. Let’s understand how this ecosystem works.
- Once any coffee shop connects to a BITCOFFEEN network, they have to buy 1000 BFF tokens through a crypto exchange. The minimum price of each BFF token is 1 USD. The coffee shop then generates 10,000 QR Codes using those BFF tokens.
- For each cup of coffee sold, the users can scan the QR codes using the BITCOFFEEN app available on the Android and iOS platforms. Upon scanning the QR, the coffee buyer gets 0.1 BFF in rewards equal to 0.1 USD. These rewards shall be stored in the users’ BITCOFFEEN wallets.
- Users then have the option to swap these BFF tokens for real money on any exchange. Besides, they can also spend these tokens for buying other products on the BitCoffeen platform.
- The incentive to coffee shop owners for joining the BitCoffeen network is that they can thus entice more customers and ensure more sales.
- As more shops join the BitCoffeen network, the value of BFF tokens will rise. This will encourage other businesses to join the network over a period of time ensuring higher exchange activity for BFF tokens. This, in turn, will ensure higher demand thereby increasing its price.
BICOFFEEN Platform – Rewards Distribution and Investment Platform
So with all these benefits in place, the next question you would be getting is how does the BitCoffeen network manage its operations and financials.
- For every cup of coffee that a cafe sells, it pays 10 cents fixed fee to the BitCoffeen franchise at the time of creating the QR Code for BFF rewards points. This is the fee paid for using the BitCoffeen network. This royalty generated is further distributed to other participants of the BFF ecosystem like coin owners and territorial operators.
- 20% of the commission goes to territorial operators while the BFF coin holders receive $0.10 royals per day per turnover of 100 coins.
- The remaining amount goes towards further development and spreading the world of BitCoffeen network worldwide.
- Besides, the BitCoffeen network has also got its own investment platform that allows anyone to hold the BFF cryptocurrency and receive a stable share of royalties.
- In the Q1 2020, the BitCoffeen project team worked towards initiating the BFF token trading at Livecoin. Besides, they also launched the BitCoffeen application on Android and iOS platforms.
- In Q2 2020, the team will work towards listing the BFF token at some popular exchanges like YoBit, Bitforex, etc. wherein they can get higher visibility. They will also work on integrating the BitBack rewards system in CIS countries.
- In Q3 2020, the BitCoffeen platform will launch its own coffee products in the market. Later, they will gear up their marketing efforts in Asia and other regions of the world.
- In Q4 2020, the team will focus on a major expansion in the European markets.
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