GrabAMeal ICO details
Start Date: 2018-4-23
End date: 2018-8-18
- Category: Cryptocurrency, Health, Infrastructure
- Token: GAM
- Platform: Ethereum
- Type: ERC20
- Initial price: 1 GAM = 0.01 USD
- Bonus: 1 June, 2018 - 7 June, 2018 +30% - +40% 14 June, 2018 - 20 June, 2018 +20% - +30% 28 June, 2018 - 4 July, 2 +10% - +20% 12 July, 2018 - 18 July, 2018 +5% - +10%
- Tokens for sale: 500000000
- Accepting: BTC Dash ETH LTC
- Soft cap: 1,000,000 USD
- Hard cap: 5,000,000 USD
- Site: GrabAMeal site
- Twitter: https://twitter.com/GrabamealW
- Facebook: https://www.facebook.com/grabameal.world/
- Github: https://github.com/grabameal
- Reddit: https://www.reddit.com/user/grabamealworld/
- Bitcointalk: https://bitcointalk.org/index.php?topic=3374106.msg35366520#msg35366520
- Medium: https://medium.com/@GrabamealWorld
- Telegram: https://t.me/grabamealworld
GrabAMeal – Decentralised Meal Sharing on Blockchain
GrabAMeal is the first decentralized meal-serving network built on top of a set GrabAMeal collaboration and trust processes that connects meal providers (Sellers) with guests (Buyers).
The GrabAMeal platform and the trust and collaboration Protocols are powered by the GrabAMeal utility tokens called GAM token. The GrabAMeal Protocols are open Ethereum protocols that shall other future sharing economy applications developed by the team of experts at GrabAMeal. These protocols provide the GrabAMeal network with three essential systems:
1. Payments & Incentives – A secure payment system that allows two authenticated P2P entities to send and receive money that gets held in GAM tokens until after a successful exchange of services between the two entities.
2. Dispute Resolution – A decentralized audit and monitoring system that resolves user disputes, providing positive incentives to grow a network of auditors and negative incentives for wrongful use of the dispute resolution system.
3. Quality & Trust Management – A quality and trust management system based on reputation of participants that couples a valid identity, which is obtained by a trusted digital fingerprint protocol on the Ethereum blockchain, with a rating determined by transparent, immutable review and scoring interchange between P2P entities (such as Buyers and Sellers).
Since the advent of Blockchain in 2008 for use in the bitcoin, as its public transaction ledger and made it the first digital currency to solve the double spending problem without the need of a trusted authority it has been the inspiration for other applications. The developments over the last few years has ushered in the beginning of a “Sharing Economy” with many distributed applications becoming “Blockchain” enabled with crypto tokens and smart contracts being the core of the trust mechanism. There are disruptions in many common business models, such as room sharing, taxi bookings, meal sharing and other applications that involve financial transactions between parties unknown to each other.
What is GrabAMeal?
The world is increasingly becoming global and mobile. People move around the world, from one city to another and from one place to another for pleasure or for work. In all this busy and time constrained life, finding the food one likes and wants usually takes a backseat. Whether one is travelling alone for business or for work, or one is travelling with family to a new destination, finding the places to eat can be a real challenge. Moreover, dining out, in recommended and listed restaurants can be really draining on the pocket, while not guaranteeing the satisfaction one seeks.
The other major trend globally is that many young people are staying away in different cities globally for study and work. There is a major temporary population in every city of migrants, who live and work or study in these cities. While they manage cheap accommodation, eating good food, regularly and of their choice is always a challenge. Many young people suffer lack of nutrition, bad health due to eating poor quality and sub-standard food from very few options available to them. They yearn for a good home cooked meal, served hot and tasting good.
As it has happened to the transport and hotel industry, many people and families have been tapped by the online aggregators, like Uber and Airbnb, to open up their personal properties for public use on demand. It is not hard to imagine that many people have the capability to prepare a meal for additional 4 or 5 people and serve them for a fee. Not only does that make it profitable for the families to serve people in need but it also solves for the most critical wellbeing problems of the travelers and temporary residents of any city.
It is with this background, GrabAMeal intends to launch a global platform for matching good food seekers with people willing to serve a preferred freshly prepared and tasty meal. The idea is to find the type of food one wants to eat from the options available within a specified radius of presence. The listed families, can receive the order and prepare the food for delivery on time. The modes of delivery will evolve over time, but initially, it may be designed for “Take away” or “Dining in” at the place of delivery or to provide “Home Delivery” options if the seller can provide the service.
The platform will evolve to include many other “logistics” and “Supply” partners for food and ingredients delivery and collection with their inclusion as trusted intermediaries. Over time, the organized delivery of food for party, meetings, gatherings and occasions, shall be included on the platform. Food delivery for workplace lunch, school tiffin, etc., can also be included on the platform, as the aggregation model is backed up with “Dark Kitchens” setup in various cities.
The platform will evolve to continuously update and assess the participants on the platform using advanced analytics and IoT technology, to ensure perfect matching of expectations in future.
GrabAMeal is different from traditional online meal aggregation platforms as a distributed decentralized organization of sellers and buyers completely built on trust and provenance provided by the Blockchain ecosystem. The platform is simply a technical mechanism of ensuring trusted engagement between many distributed sellers and buyers, using the GAM token and the management of seller and buyer reputation, dispute resolution and ongoing quality management mechanism using specially designed “smart contracts”.
The GrabAMeal platform will not interfere in the business transactions of sellers and buyers apart from managing the processes defined for using the platform by various stakeholders.
GrabAMeal is a peer-to-peer marketplace and resolves the core issues of traditional models by use of built-in trust mechanism, to achieve:
- Payments & Incentives – Very minimum transaction fee for buyers or sellers on the platform using GAM token. Token based incentives for buyers and sellers, independent auditors, suppliers and other partners using a reward and penalty mechanism.
- Enhanced Trust – A robust blockchain based onboarding, review and feedback mechanism to ensure accuracy of information and quality of food delivered.
- Transparent rewards – The platform rewards the actual stakeholders (sellers and buyers) of the benefits of growth in value of the GrabAMeal platform by means of reward tokens for expansion, participation and promotions. As the platform grows in volume of buyers and sellers and consequently transactions of the GAM token, the members of the GrabAMeal platforms will earn incremental benefits through carefully designed reward mechanisms.
- Dispute resolution and quality control mechanisms – GrabAMeal members, buyers and sellers, will invariably face many mismatches of expectations and divergence. A mechanism to involve other sellers and buyers and independent food experts (auditors) in dispute resolution shall be developed. All participants will have a pre-defined role and will be able to vote in dispute resolution incidents in exchange for GAM tokens.
Market opportunity is expected to grow even bigger as more and more people in the 15 to 45 age group prefer to eat outside. GrabAMeal will not only be an online platform that connect diners with hosts in a very unique way, the platform will provide a personalized and home-like dining environment anywhere, almost at any time.
The GrabAMeal platform will execute fairness, security and trust through a set of proprietary process protocols, the GrabaMeal Identification and the GrabaMeal Dispute Resolution protocols.
The protocol GrabaMeal Identificationwill automatically identify and score a participant on the network on an ongoing basis, ensuring accuracy, consistency and trust among all members. The GrabaMeal Dispute Resolution process protocol will continue to assess the risk metrics in the network and focus on minimizing risks by better matching of buyers and sellers to lower dispute, dispute resolution and compensation mechanism in the network.
A separate protocol, GrabaMeal Rewardto manage rewards and incentives for participants will also be developed to ensure that the participants are rewarded adequately for the activities such as review and rating, dispute resolution, promotions, etc. The GrabAMeal-Id, GrabaMeal Dispute Resolution and GrabaMeal Reward protocols represent the underlying processes to be implemented in GrabAMeal platform to deliver the level of quality meals based on a system of trust and fairness.