| Summary: | The COVID-19 pandemic has affected many businesses in the F&B industry. Specifically, many hawkers depended on walk-in customers before the pandemic which led to the majority being strongly impacted by the pandemic. This has resulted in hawkers adopting food delivery services for continuity of sales. However, despite the government assistance to help hawkers in the adoption of online delivery, many hawkers struggle with the high commission fee charged by the food delivery company. This is mainly due to the architecture of traditional food delivery industry where a centralized authority exists. Thus, this project proposes an application that utilizes blockchain technology to eliminate the central authority.
The architecture of blockchain technology differs from commonly used architecture where a centralized server exists. This unique feature of blockchain ensures that there is no central authority. In addition, the adoption of Ethereum smart contract on the blockchain will ensure operations are executed automatically, eliminating the need for third parties such as banks. The entire concept of promoting decentralization in blockchain technology solves the existing limitation that lies in the food delivery industry where food delivery platforms have the central authority over the high commission fee.
Ultimately, the goal of this project is to implement a decentralized web application that solves the issue of high commission fees for merchants within the food delivery industry. Our decentralized application requires low transaction fees with 0% commission and platform fee. Participants in the Ethereum network can expect to receive pay-out instantly after every successful order. In addition, the system ensures trust through a rating system to ensure participants’ product quality and credibility. Data and information stored on the blockchain are immutable, ensuring that no user is able to alter records. Overall, the application promotes decentralization, security and trust in the network using blockchain technology.
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