Changing the self-service sector one cup at a time
by Michael Kryton, EQUITY IR contributing writer
After months of planning, SUIC (Sino United Worldwide Consolidated OTC: SUIC) and iDrink Technology have successfully put 100 iDrink IoT smart beverage vending machines into operation at bars and restaurants located in four smart cities in Taiwan: Taipei, Hsinchu, Taichung, and Kaohsiung.
Modern urbanization and technological developments in IoT have been fueling the demand in the Asia-Pacific region for intelligent dispensing solutions in several segments ranging from (and not limited to) malls and supermarkets to hospitals and airports. What makes the SUIC/iDrink solution unique is the fact that they have not only taken advantage of smart technologies, they have also introduced Drink Coin, a new, innovative cryptocurrency used on the iDrink decentralized platform for trading utility tokens wholly backed with alcoholic beverages.
SUIC and iDrink teams developed a digital, payment-dedicated, mobile app that transmits information using ultrasound as a technology protocol with multi-factor authorization and unique identifiers for faster-tokenized payments. The iCloud cloud computing management system they use ensures iDrink IoT machines are safe and operate efficiently, which enhances customer engagement while delivering maximum revenue and profitability to the operators.
Speaking of numbers. iDrink IoT machine sales average 20 to 40 cups daily per machine. This translates into revenues of TWD 60,000 (US$1900) to TWD 120,000 per month (USD 3,900). The 100 newly installed machines are expected to generate gross profits of TWD 36 million (USD 1.16 Million) to TWD 72 million (USD 2.33 Million) each year. They expect to have 5000 iDrink IoT Machines in 100 cities by 2021. Recent market studies show that the intelligent vending machine market will exceed USD 30 billion by 2024. The food and beverage segment will generate the highest demand.
[SUIC and iDrink expect to have 5000 iDrink IoT Machines in 100 cities by 2021.]
IDrink’s IoT network architecture (smart beverage vending machines, Drink Coin, and iCloud cloud computing management systems) delivers consistent value to businesses and consumers. What businesses are happy about is that they do not have to purchase additional equipment to operate the iDrink Self-Service system app because iDrink IoT smart machines are equipped as self-service food and drinks ordering machines. The app receives ultrasonic waves via customers’ mobile devices including tablets and phones.
As a result of the app’s functions being programmed directly into the iDrink IoT smart machines, labor costs are reduced and, at the same time, customer data is captured easily and safely without concerns for security or risks of data compromise. Now that iDrink machines are operational, investors are motivated.
More numbers investors like. The self-service market topped USD 24 billion in 2019. By 2024, it is expected to more than double to USD 58.41 billion. That’s a CAGAR of 16.43% for those of you doing the math.
[The self-service market is expected to more than double to USD 58.41 billion by 2024.]
About Drink Coin. What makes Drink Coin an innovative cryptocurrency is the iDrink decentralized platform for trading utility tokens, which are wholly backed with alcoholic beverages. The use of advanced blockchain technology, together with highly specialized user apps and iCloud processing, sets the stage and the standards for the merging of cryptocurrency and the real economy sector.
About the wallet. The iDrink Wallet app for is used to pay for beverages on the iDrink IoT smart beverage vending machines or coin-operated vending machines. Users will accumulate iDrink member points responding to such things as drink surveys. The app also allows for info sharing on social media, which includes drinks alerts, news, widgets and updates. The wallet mobile app is connected directly to the blockchain, which means that any iDrink transaction over this blockchain network is self-executed according to its corresponding ‘smart contract’; when a consumer pays for an iDrink beverage, the mobile app creates a new smart contract and automatically executes the token-related trading of the transaction.
About iCloud. The iCloud system is the heart of the business model and operations. As an integrated end-to-end system, it generates advanced analytics from the wealth of data produced by the iDrink IoT smart beverage machines. The data includes machine location, beverage type, beverage inventory, consumer preferences, order information and more. iDrink business partners and consumers, store operators, logistics providers, and beverage suppliers all benefit.
After diamonds, art and gold, alcoholic beverages lead in high profitability. In addition, the iDrink platform is diverse, which embraces beverage wholesale and retail sales, franchising income, advertising opportunities and much more. With data available via the machines, the analytics will impact everyone in the chain including beverage producing plants.
Thanks to SUIC’s strength in providing venture financing and Blockchain services, iDrink has now established a firm footprint in Asia. Given the financial projections, their cups will runneth over in no time.