What is Box2Table?
What is Box2Table
Box2Table is a technology startup, which provides food & beverage enterprises with a comprehensive cloud-based Software as a Service with a Point of Sales terminal, an automated inventory management system powered by AI and a decentralized blockchain trading platform and smart loan system between owners of small and large businesses as well as producers and distributors of products around the globe.
Industry conditions & challenges
Market environment is becoming more and more challenging. Companies must address numerous challenges in today’s consumer environment. Customer expectations are constantly changing, sustaining a consistent brand experience is becoming more difficult, and enterprises are struggling to keep up with trends in mobile technology. Here are the biggest challenges food and beverage service industries face today:
Food & Beverage Establishments problems:
Complexity of use
Problems with inventory management
Producers & Distributors problems:
Guarantees of Payment
Marketplace platforms are not trusted
The commission fees for a transaction
The Box2Table platform solves problems for all market participants – both on the buy and sell sides. Food & beverage establishments are able to order the best products from local and/or international manufacturers with guaranteed quality and timely shipment.
Manufacturers and distributors will gain access to the newly formed market for direct sales with guaranteed payment for shipped goods.
With the blockchain technology, all operations between parties will be completely transparent For example, the restaurant will be able to collect an order and receive the goods on time with proper quality, and suppliers will be guaranteed to receive payment within the framework of an agreement – after all, smart contracts on the Box2Table platform will be responsible for these operations. Smart contracts also will improve process of financing goods if is needed.
Blockchain smart contracts that complete transactions without additional online/offline confirmation and crosscheck are applied in the process to completely replace transactions guarantee function of trade documents (e.g. invoices) and the loan is automatically executed for the Business when the pre-contract conditions recorded in the Blockchain are established.
Import loans provide enterprises with a needed financing to pay for the goods being imported; the goods themselves are used as collateral. The goods are released to enterprises under trust receipts, which means they belong to a bank the loan is paid back.
However, the lender will want to see that you have been in business for at least a year and have made other, similar transactions in the past.
Like other types of business loans, you will generally have some leverage in negotiating loan terms and fees with a financial institution. Loan terms will include a repayment schedule and the interest rates. Financial institution will perform a due diligence on the borrower. When handled properly, an import loan can provide the working capital needed to keep the business going.
Major transaction flows
Automatic loan. When the pre-agreed conditions are satisfied, the supplier automatically gets funding through its wallet without going through a payments agency or a financial institutions.
Agreements on trade transactions – delivery of goods through the platform, agreements in terms of accounts receivable discount between suppliers and buyers, and digital wallet generation.
Unique Box2Table platform solution:
Unique combination of most innovative technologies – machine learning (AI) scoring system, automated lean loan processing and blockchain-level transparency and smart contracting.
The Platform is connecting to borrower’s acquisition history, real data used for credit scoring and debt collection is automated by deducting a small fee from future transactions.
By controlling repayments, the Box2Table lowers risk of the trading market, to make risks even lower- we are ensuring each loan with reserves, while maintaining high profitability of company.
Main value of smart loans on Box2Table platform:
Smart loans will enable enterprises to pay suppliers promptly, building your business credit rating and reputation.
Cost reduction by eliminating intermediaries – implementing of remittance system between digital wallets.
Loans will improve your cash flow by bridging the gap between the time when you must pay for imported goods and the time when you receive a payment for selling it.
Comfortable conditions in loan terms – if a restaurant wants to borrow a specific amount of funds to pay for a goods order, it will need to purchase a number of B2D tokens worth of at least 50% of a transaction cost, which will be used towards the purchase. (i.e. for an order worth of 2000 USD the business will have to purchase an amount of tokens equivalent to 1000 USD).
They enhance your bargaining power with overseas suppliers, because you will be able to agree for faster payment terms.
Key features of Box2Table platform:
All agreements and actions Accounting reports
Box2Table is a revolutionary blockchain project, established in a way to avoid correlation with the volatility of the cryptocurrency market and to be protected from sharp fluctuations in the rate of bitcoin or any other altcoin. The uniqueness of the project underlies in a two-circuit blockchain technology that provides two kinds of tokens:
1) B2D – Internal crypto-currency created with a sole purpose of transactions between participating entities of the Box2Table platform.
2) B2C – Cryptocurrency is designed to support and develop the Box2Table platform and to benefit token’s holders as the company grows.