Paul Barron recently shared some important insights on the integration of Web3 in the restaurant industry. Here are the significant points discussed, as collected by the CoinSpeech team. You can find Paul Barron’s new video below.
Crypto Payments Are Revolutionizing the Sector
The partnership between Devour and Coinbase Commerce is one of the standout innovations, integrating cryptocurrency payments directly into the checkout experience. As Shelly Ruple, CEO and co-founder of Devour, explained, “We partnered with Coinbase to integrate their Coinbase Commerce directly into our checkout.” This not only allows payments through traditional methods and Devour’s native token (dpay) but also makes it possible for millions of Coinbase users to pay with their preferred cryptocurrencies.
Expanding Reach Through Aggregator Integrations
One big leap for Devour is its recent integration with Olo, a major order aggregator connected to numerous enterprise brands. Paul Barron highlighted, “We had worked for about a year to get the approval for doing that integration…that should be done within the next few days.” This milestone will allow Devour to streamline orders more efficiently into point-of-sale systems of major brands like Taco Bell, Chipotle, Panera, and McDonald’s.
Leveraging Loyalty Programs
The traditional loyalty models are seeing upgrades with blockchain and NFT utilities. For instance, Paul compared the benefits of Devour’s delivery service to traditional options like Uber Eats, noting significant savings and added perks. “One of the things that you saw in there was your delivery fee was crossed through… you also get $10 back in dpay every month that you can use with any of our merchants.”
Removing Friction for Mass Adoption
One of the focuses of Devour is the elimination of user friction in loyalty and transaction processes. Shelly Ruple noted, “For that to be completely integrated so it’s seamless…I think that’s when we get to mass adoption.” This seamless user experience is pivotal to encouraging the migration to new platforms and technologies.
AR/VR and the Future of Dining Experiences
Augmented Reality (AR) and Virtual Reality (VR) are already showing potential in enhancing customer experiences. Paul showcased examples including virtual cooking assistants and kid-friendly cooking simulators. Shelly emphasized the importance of these technologies, stating, “I’ve become very obsessed with what are the opportunities for us with AR/VR… the technology is there that can make that seamless.”
Web3 and Community Engagement
Another aspect discussed is the role of community and brand engagement through blockchain. Emerging projects and partnerships, such as with Solana Pay and innovative restaurant loyalty programs, illustrate the vast unexplored territory where blockchain can play a crucial role in “bringing the world and communities together around food,” as Shelly put it.
From crypto payments to immersive experiences, the restaurant industry is on the brink of a Web3 revolution.