Established in the first quarter of 2017, the EkkBaz project intends to leverage Artificial Intelligence and Blockchain technology to revolutionize community-based small and medium-sized grocery enterprises, regardless of their location in the world. EkkBaz will achieve this transformation by availing blockchain-driven advanced tools to their targeted clientele.
What Is EkkBaz?
EkkBaz is creation of Enam Chowdhury, a man whose humble background inspired to develop such a charitable project. Born in a poverty-stricken family, Enam was forced to start working before he had attained the legal working age. Despite these challenges, Chowdhury made it through, graduating with a major in Information Systems and Finance from the Singapore Management University. This earned him a coveted job at Microsoft.
Enam received numerous personal accolades for his impressive work at Microsoft. During this time, he experienced the challenges faced by SMEs as they try to compete with corporate giants, specifically in this digital era. As a result, Enam decide to develop a blockchain-powered solution that would put an end to the misery, bring in profits and create additional; job openings. In March 2017, Enam left Microsoft to focus fully on his EkkBaz project.
As mentioned earlier, the core of objective of EkkBaz is to facilitate the transformation of small-scale grocery business models by leveraging blockchain technology to establish a direct link between the traders and the manufacturers.
To achieve this goal, EkkBaz will develop the BAZ protocol, a decentralized and blockchain-based ecosystem built specifically for small-scale grocery businesses. The following are the major components if the BAZ protocol. The BAZ Brain consists of:
- BAZ business network
- BAZ smart contract
- BAZ digital payment
- BAZ reputation
- BAZ platform
- BAZ store
Features Of The EkkBaz Business App
Using this feature, a user can create an order, deliver or pay in a speedy and secure manner, with the provision for instant notifications also included.
Sellers can book their desired grocery store space using this feature.
Grocers use this feature to access the performance history of their stores. This helps in the formulation of success strategies as well as predicting future trends in the business.
Using the inbuilt instant messenger, users can directly communicate to each on various issues concerning EkkBaz.
Advantages Of The EkkBaz Platform
Benefits Of The Platform:
- Facilitates peer-to-peer connections between groceries and manufacturers.
- Simplifies the sharing of information and resources.
- Uses smart contracts to validate transactions.
- The EKK token as a way of payment
Benefits To Manufacturers:
- Direct connection to several potential clients.
- Access to real-time performance analytics
- Transparent client feedback
- Local-based business advertisement
- Loyalty rewards and promotions
Benefits To Groceries:
- Expansion of potential markets
- Order authentic products direct form the manufacturer
- Inbuilt expert system assists in optimization of the business model
- Paperless contracts are efficient and save time
The EKK, the native cryptocurrency of the EkkBaz ecosystem, is an ERC20 complaint utility token built on the Ethereum blockchain. Besides trading, holders of the EKK will have elevated privileges within EkkBaz ecosystem.
To fund its ambitions, EkkBaz will hold a crowdfunding event where it is expected to issue EKK tokens o the public. As of now, there are nor further details concerning this ICO.