The Blockchain Industry in Africa has continued to grow at an exponential rate despite uncertainties around regulations. Africans are not only trading Bitcoin and other cryptocurrencies but have started accepting cryptocurrencies as payments for goods and services.
In this episode of the Africa Blockchain Series we will be taking a look at OliliFood and what inroads they are making into the blockchain industry in Africa.
OliliFood is an innovative online restaurant aggregator that enables it users to order food from various restaurants that are listed on the startup website or mobile application. The platform is currently operational in Asaba, Delta State, Nigeria with over 20 top restaurants and food vendors listed. The startup raised a total of $125,000 in two rounds of seed funding in April 2019 and April 2020.
Imagine being able to order food from top restaurants and food vendors within your locality in Nigeria and pay with crypto? Yes, you can do that with OliliFood.
OliliFood users are able to add funds to their wallets using cryptocurrencies like Bitcoin, Ethereum, BitcoinCash, Litecoin, Binance Coin or Binance USD. Let’s take a look at it.
How to add funds to OliliFood wallet using cryptocurrency?
- Step one: You have to first download the application from your app store (Android & iOS) or visit OliliFood.ng.
- Step two: Navigate to profile and click add funds.
- Step three: Click “proceed” on the option fund with cryptocurrencies.
- Step four: Enter the amount in its Naira equivalent and click proceed.
- Step five: In the next window you will see the different cryptocurrencies available with which you can fund your wallet with and also the crypto equivalent of the amount you filled in Naira. For instance, I selected Ethereum and will be funding my account with 0.0179405 ETH which is equivalent 5000 Naira.
- Step six: Click “get payment address”.
- Step seven: In the next window the payment address and barcode will be published, you are simply expected to copy the payment address or scan the barcode and then send the corresponding amount of cryptocurrency to the address. After specified number of network confirmations your crypto will show up in your wallet.
Following these seven simple steps you will be able to fund your OliliFood wallet using cryptocurrency and proceed to making payments with crypto for your order. The startup hinted CryptoTvPlus about their expansion plans to other cities in Nigeria.
OliliFood partnered with Fintech payments giant, Paylot to facilitate secured crypto payments for food orders by users. In an interview with CryptoTvPlus the CEO of OliliFood, Nweze Ikechukwu Emeka said:
We partner with paylot.co to enable our users use crypto as a means of payment for ordering food on our platform and after 1 week of launching the service on our new app we have seen that it’s cheaper(less charges) for users to fund our in-built wallet with crypto and faster to confirm funding and these two key factors are prime in users experience, these factors boost sales and the more sales made the more revenue generated.