On Monday, Metro Mayor of the Liverpool City Region Steve Rotheram announced a 700,000 pound investment ($955,957) into food delivery service Peepl. The software aims to act as a cost-efficient alternative to food delivery giants for local restaurants. Peepl is powered by the Fuse blockchain, which boasts having fast transaction times and low fees. It is the first major application of Fuse's open-source money toolkit designed to benefit local communities.
Peepl claims that it can save restaurants up to 50% on the commissions typically charged by food delivery platforms through its technology and partnerships. In addition, the Peepl platform promises to give consumers back 5% to 10% on each order's value in the form of Peepl Tokens (PPL). However, they will be locked within the network for at least four to five years.
According to its website, its developers propose to fix the price of each PPL token until 2025. On top of making transactions, PPL token holders would also be able to participate in the network's governance.
Mayor Rotheram issued the following statement of support for Peepl:
"In the Liverpool City Region, we aren’t the sort to simply follow the crowd. We like to be disrupters; to chart our own course and take great pride in our local businesses and community solidarity. Peepl has the potential to radically disrupt the food delivery market by bringing together all those values and injecting a lot more fairness – for riders and restaurants alike – to an industry not known for its treatment of workers."
Leon Rossiter, CEO and co-founder of Peepl, said the following in regards to the development:
"Advances in blockchain technology, alongside shifting values and laws, mean new business models are possible for the internet, and the local economies we all live in."