AlphaMarket: smart e-commerce platform on the blockchain
The project developers asked themselves a few questions. And their answers did not suit. They were like this:
- To date, you can really buy only cryptocurrency for altcoins.
- In the purchase of goods now involved three or four participants — the seller, the buyer, and their banks.
- Cryptocurrency is actively used mainly by stock speculators.
The AlphaMarket project team decided to change the situation and create a platform on which goods and services can be paid for by various cryptocurrencies.
They called it a crypto-hypermarket and this is a new step in the trade. In terms of importance it is comparable to the appearance of the first online shops accepting electronic payments.
With the acceleration and cheapening of the Internet more deals are taking place in it. This makes it faster to process information and make decisions faster.
This is what helps to achieve the use of smart contracts that automate transactions and send money.
Eliminating intermediaries in the execution of transactions reduces not only the time for the operation, but also reduces its cost. Excluding all fees only gas for Ethereum remains.
The active participants in the platform are sellers and buyers. Administration resource is connected only when necessary, as an arbitrator to resolve disputes between the parties to the transaction.
Buyers choose and buy goods or services. They can choose the cryptocurrency from the seller’s list. In addition, they can indicate in the personal account which goods they would like to purchase. Something like setting a stock exchange order to buy.
Buyers, if desired, leave feedback about the product and the seller. In case of dissatisfaction with the purchase, it is possible to initiate a dispute with the seller.
In a more complicated situation when the conflict cannot be resolved by itself the buyer creates a claim. At the same time, payment for the goods is blocked and the platform administration begins arbitration.
The buyer is encouraged by the platform for using internal resource tokens (AMC). He is credited with cash back of 1 to 3%.
In addition, the platform has a rating of reliability for customers. The higher the place in it, the more bonuses and privileges are available.
A seller can be a company or an individual who has decided to sell something once. The seller can put up for sale any quantity of goods.
For the placement of the announcement of the sale fee is not taken. Thanks to this, the entrance to the trade is worthless.
The commission is charged for each sale. The developers indicated the size of the commission — 5%.
For sellers created two ratings: a) reviews and b) trust. Feedback is defined as the average of all responses received to seller actions. Trust is calculated for all successful transactions and the time of the seller’s presence on the platform. Ratings affect the period of receipt of money for the goods and the perception of buyers as a reliable supplier.
The algorithm of the participants of the platform is simple and understandable.
The seller indicates the value of the goods in a currency convenient for them. To level the fluctuations of the exchange rate, the price change function is available to him, but this is provided that the goods have not yet been ordered. For the same purpose, the price can be indicated in US dollars, and the cost will be automatically recalculated when ordering.
The parties agree on the delivery dates before payment. Delivery can be carried out only by the service with online order tracking.
Payment from the buyer for the goods goes to a special transit account of the platform. The seller receives a notification of the receipt of funds and sends the goods to the customer.
Seven days after the expiration of the appointed time, if there are no complaints from the buyer the money is transferred from the transit account to the seller.
The project runs on the Ethereum platform. The internal AMC token corresponds to the ERC20 standard. It will be used to pay for goods and services and also as a reward — sellers and buyers receive discounts when paying.
The project itself expects to receive revenue from advertising on the platform and commissions for transactions.
Token AMC will be put up for trading on crypto-exchanges. In addition, it can be purchased directly on the platform in the internal crypto-exchanger.
The start of the sale is April 16, 2018. The end is on October 1, 2018.
The cost of 1 AMC token is 0.00008 ETH.
The entire development team is Russian. Given how highly valued Russian specialists in the blockchain community are, this can be considered a good sign.
AlphaMarket is an interesting project in its fullness. If successful, it will be in demand by so many people and companies around the world.
The project adds reliability, transparency, and security to the already existing advantages of platforms that deal with e-commerce.
The use of smart contracts eliminates most of the problems associated with payment and performance of obligations.
The platform promises mutually beneficial cooperation to all participants of the ecosystem.
To learn more about the details of this project, as well as to participate in the purchase of platform tokens, visit the official website https://tokensale.alphamarket.online/en/l/ and read the Whitepaper: https://tokensale.alphamarket.online/static/ico_backend/docs/Whitepaper_eng.pdf
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