Ecommerce market has recently been a booming one. The entire market was worth $1.9 trillion in 2016 and has increased considerably since. Jeff Bezos has made an empire profiting off his Ecommerce company, which made him the richest man in the world. While everyone is trying to learn about cryptocurrencies, Avenium's AVM token ICO wants to makes its impression on a growing space.
By leveraging an initiative crypto asset into the busy Ecommerce industry, Avenium seems to be sitting on a goldmine.
Avenium token (AVM) is a brand new crypto asset which possess all the functionalities of Bitcoin, and much more. It is a utility token for B2B Ecommerce markets, thereby establishing a safe, reliable and fast transaction. Avenium started as a fun side project of Avenium community which gradually changed to what could be the new model of Ecommerce industries.
There are many flaws in the payment gateways, which Averium wants to solve. They are considered a necessary evil for both the retailers and customers.
Some of the problems which exists in the current Ecommerce market and which Avenium is trying to solve are listed below:
- They are too expensive. The average rate charged for transaction is 2.9%.
- Their fee structure is hidden which adds to their negative and shady image. Avenium provides a transparent fee structure.
- They haven’t capitalized the entire mobile market yet.
- Merchants are treated unfairly on disputes and charge-backs. Smart contracts empower these merchants.
- Recurring payment model is still a huge problem with most financial service not having a good solution to it.
- Low transaction fees: Traditional wire transfers typically involves high fees and exchange costs but since Avenium os government and intermediaries free, the cost of transacting are kept very low.
- Peer-to-peer network: Avenium is strictly a P2P network built on Waves Blockchain platform.
- No tax and charge-backs: Transactions denominated in Avenium have no way of being identified, tracked or intercepted since there are no third parties. No sales taxes and charge-backs are included into any purchase.
- Fast transactions: Typical authorization requirements and wait periods are very long but Avenium wants to eliminate it.
- No third party interruptions: Banks, Governments and other financial intermediaries have no way to interrupt user transactions or place freezes on Avenium wallets as the system is purely P2P.
Initial Coin Offering Token Distribution:
Avenium token or AVM is waves blockchain token. The ITO (initial token offering) starts on march 2018 and continues until May 2018 on the Waves Dex. Total coin supply is 40 billion of which ITO supply is 10 billion and Bounty program is for another 10 billion. Asset maintenance will require 5 billion token, team will be given 10 billion, campaign will receive 4 billion and the reserve for the company is 4 billion tokens. Trading starts at waves dex in June 2018. All members of the Avenium community who participated in the ICO will each receive 5000 AVM or more from time to time.
The demand and distribution of this token will certainly catapult the price of Avenium. Even a small chunk of an almost $2 trillion USD market will skyrocket the price of the token. Avenium’s vision through Avenium’s Payment Gateway is to achieve connecting over 200,000 Ecommerce wholesalers and retailers worldwide, with great plans of partnering with big time Ecommerce giants.
You can learn more about the company or their token on their website http://avenium.uk.eu.org