Blockchain Enables Decentralized Franchise Networks For Loungers


Since the idea of a cryptographically encrypted chain of blocks where information and data could be transferred in a peer to peer fashion emerged in the 1990’s, the blockchain technology has greatly improved and developed. It is now an extremely reliable way to transfer value, exchange data, connect users and much more. This decentralized ledger technology is now evolving, new applications and uses are being built around it, and it is growing more popular each day. In multiple industries, the blockchain is now being implemented and used for business operations. This is now also the case for the lounge industry. In this article, I will talk about how the blockchain technology can contribute to the expansion of franchise networks for loungers, especially mentioning the Reflexion Lounge Franchise network.
The Reflexion Lounge, based in Salford in the United Kingdom is actively taking part in the next technological revolution of cryptocurrency and the blockchain technology. In addition to the Reflexion token that members and patrons will be able to use in the Salford original location and in other shisha lounges, the Reflexion Lounge is also going to use the decentralized ledger technology to globally build a franchise network. This is what the company calls “blockchain enabled franchising”.
The idea behind this new way of creating a franchise network is “to transform the existing franchising system into a trusted network of community members that partake in a global Lounging and Lifestyle brand”, all thanks to the blockchain technology. The way it works is that individuals who are interested in creating Reflexion Lounge franchises can opt-in by purchasing XRLO tokens and acquiring the franchising rights, which in turn gives them the ability to participate in the expansion of the lounge network and open their own Reflexion Lounge anywhere in the world. These franchising rights and terms will be managed on the blockchain thanks to smart contracts and specific XRLO token wallets.
In the future, the Reflexion Lounge is hoping to create long lasting partnerships that will also benefit its expansion and its development of the franchise network. Furthermore, a “Reflexion Lounge Franchising Kit” will be created and will hold the complete franchising program, ROI and policy information, procedures to get started, and more to assist future franchises in the opening of Reflexion Lounges across the globe. As mentioned earlier, the franchising rights will eventually become “tokenized” and it will become possible to acquire these rights on the Reflexion blockchain network and platform. In the end, the promised objective is to obtain “a virtual community of shared values for equality of opportunity and equality of possibility, providing instant sharing of value in peer-to-peer transactions.”
In my opinion, the blockchain technology will greatly contribute and help with the creation, expansion, and development of a franchise network for loungers and for Reflexion Lounge. Thanks to smart contracts and the franchising rights being tokenized and accessible on the decentralized and proprietary ledger, it will be incredibly easy and scalable to create a true connected network of Reflexion Lounges all over the world. With the creation of the RL franchising kit and the distribution of XRLO tokens, the British company will be able to develop and expand its business operations in multiple cities across the world.
This new franchising system will become more and more popular in the near future, thanks to cryptocurrency, the tokenization of assets, smart contracts and the blockchain technology. We are only at the beginning of the revolution and I believe companies like Starbucks, McDonald’s, Subway and thousands of others who have built their success on the franchising model will eventually switch to the blockchain to manage their franchise network, franchising rights, and processes to start franchises. It is only a matter of time now until the blockchain takes over!
Author: johnthedon BitcoinTalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1860087

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