Over the past two decades, the retail industry has taken a decisive shift toward digitization, with consumers, producers and distributors all converging on e-commerce platforms like Amazon.com, eBay and others. Now, e-commerce itself is facing major disruption through blockchain technology, which seeks to bring greater transparency, cost savings and competition to online shopping.
Buying.com is the first decentralized e-commerce network that allows online stores and consumers to purchase directly from manufacturers, distributors and wholesalers. By offering a direct-to-consumer platform combined with a hyper local distribution model, Buying.com enables shoppers and businesses to mutually benefit from each transaction.
Buying.com is more than just a platform for business-to-business and business-to-consumer transactions; it is designed to become the de-facto standard for e-commerce transactions on the blockchain. In doing so, it will directly address the multitude of problems currently plaguing e-commerce, such as:
- Expensive minimum order quantities to unlock discounts;
- Preventing chargebacks;
- Centralized warehousing limitations;
- Expensive and inefficient last mile delivery;
- Industry monopolization leaving retailers and entrepreneurs at a disadvantage.
Buying.com offers a decentralized solution for all e-commerce sellers, retailers and consumers, ensuring they are on a level playing field with existing e-commerce giants. Through the blockchain, consumers and businesses can come together to hit minimum order quantities with manufacturers, distributors and wholesalers to receive the lowest pricing on goods.
On the distribution side, Buying.com is bringing the Airbnb model to e-commerce by allowing users to monetize their latent space. Under this model, users can transform their garage, storefront, empty warehouse or convenience store into a hyper local distribution center. The platform’s delivery network works like Uber by allowing anyone to use their car for last mile delivery.
Buying.com has already built a successful e-commerce version of the decentralized platform on DropShipper.com, a Buying.com service already boasting hundreds of suppliers and millions of products. An MVP for Buying.com’s e-commerce mobile app will be available on Android and iOS in September ahead of the token pre-sale.
Introducing BUY Token
Underpinning Buying.com’s decentralized e-commerce marketplace is the BUY token, which will serve numerous utility functions within the network and as a form of dividend payment to investors. The cryptocurrency has built-in incentive schemes with distributors and delivery operators to help scale the network.
BUY will be used for:
- Staking tokens for microdistribution centers and delivery operators to participate in the network and earn revenues;
- Rewarding users when they recommend Buying.com to another product or service;
- Paying for shipping and products on the platform;
- Distributing dividend and profit-sharing payments to holders of the BUY security token.
BUY will utilize the benefits of a secure blockchain to transform the centralized state of e-commerce and bring greater cost savings and economies of scale to online shoppers, small businesses and e-commerce sellers.
A pre-sale discount on BUY tokens is available beginning Oct. 1, 2018. The pre-sale will run until Nov. 30, 2018.
The public ICO will be launched Dec. 1, 2018 through Jan. 31, 2019.
All proceeds will go toward developing the world’s first decentralized e-commerce platform backed by a proof of stake blockchain protocol. Buying.com will unveil its decentralized application in Q4 of this year, with the Prime Protocol Mainnet scheduled for launch in Q4 2019.
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.