ApolloX has just released its own cryptocurrency platform for global decentralized trade and e-commerce. The aim of the company is to create an environment with trust, transparency and data ownership that has minimum fees attached to it.
The product is a protocol to be used on the creation of decentralized e-commerce solutions to be built on top of the blockchain technology. This will create a new decentralized marketplace that will enable the users to have an optimized experience while using the company’s services.
Members of the community can also help the network with their time and their skills be to paid in ApolloX tokens that they will be able to use as currency on the platform.
ApolloX Will Bet On A Decentralized Marketplace
The creators of the company really believe that a decentralized marketplace is the right choice for the future of e-commerce because it can solve many of the issues that this industry is currently facing.
One of the main problems that the decentralization is able to solve is that you no longer need to “trust” the retailer because this is a new trustless system. By using smart contracts and the arbitration of the community, trust is immediately established without any need for you to even know who you are transacting with.
These new mechanisms will ensure that the e-commerce marketplace of the future will be a bright place in which all the users will be able to make transactions without fear.
Data access is another issue that the company believes that can be solved. ApolloX believes that the consumers should have the right to do whatever they want with their data. This means to have access to it and be able to control who will get access to this data.
On ApolloX, all data will be encrypted and only accessible if the person who created this data lets the other use it, which means that they can give the rights or sell them.
Finally, by having a decentralized platform, the company will be able to really makes the fees lower. Many platforms take most of the profit from the sellers, which makes them increase the price of their products and the buyer ends up losing too.
By cutting the middlemen and all unnecessary costs, ApolloX is able to really make the price of the fees lower and both sides will be beneficiated from this efficacy which, according to the company, can make the price of the products at least 40% lower.
Not only the buyers and sellers of the ApolloX will be benefited by the platform. Because the company offers a payment, arbitration, reputation, oracle and data protocol, it will support roles for many users from the community and be able to help manufacturers, advertisers, logistics and other actors of the e-commerce industry.
ApolloX’s CEO Believes That Decentralized E-Commerce Is The Future
Will Li, founder and CEO of ApolloX, is betting on the blockchain. He believes that the future of global e-commerce is decentralization. As the decentralization improves transparency and gives independency, it has everything that it needs to succeed.
According to Li, the current e-commerce industry forces the sellers to pay between 25% to 50% of the money they get from sales to use the platforms. By rewarding the community and really creating a good ecosystem, the products will be cheaper and the system will work for everyone.
This new platform was created by Apollo Box, a company based in the Silicon Valley with over 800 vendors. The company already has full backing and has prominent angel investors like Amino Capital and Hofan Group.