GOJOY Business Chain: Blockchain Shipping to Earn Rewards?
GOJOY Business Chain is a digital shopping mall where manufacturers sell directly to consumers and 50% of the income generated goes back every hour to the community of shoppers.
When a customer buys on GOJOY, he or she gets a percentage of the purchase in JOY coin. After every hour, the platform shares 50% of its income proportionately with JOY coin holders.
GOJOY was inspired by the challenges that Small and Medium Enterprises (SMEs) face while doing business in the internet age. Quite often, the SMEs never win in the traditional internet business model where a few groups or individuals dominate each industry. The advancement of technology and the instability of the global market economy have created a new kind of opportunity—the fractional asset ownership economy.
Fractional Asset Ownership
Fractional ownership implies that a company or an asset is broken into small parts, allowing large number of users to own them. The fractional economy was inspired by the shared economy such as used by companies like AirBnB or Uber. In such shared economies, users generate income from the services they provide, but they end up with no benefits from the growth of the tech giants. This kind of business model is unfair to the service providers who make it all happen.
Any traditional SME with more than one million dollars in revenue can adopt GOJOY’s business model and transform itself into a Fractional Business. Once a business joins the bandwagon of the Fractional Economy, it would start realizing more customers and higher profit margins. Besides, it would improve in brand loyalty.
GOJOY believes that eventually thousands of businesses will adopt its business model. When several companies come together under the fractional ownership initiative, they will share their traffic and form an ecosystem where fractional companies grow at zero costs in fiat. The Fractional Revolution is set to help alleviate poverty, generate jobs, and transform how people see companies.
Pain Points Identified and GOJOY Solutions
GOJOY underscores the fact that the internet age is definitely good for business. Technology speeds up some processes and eliminates others. Money moves fast, people work around the clock worldwide, and they can even enter new markets remotely.
Eventually, consumers are the ones to pay for all the extra cost paid to traffic landlords. Here are some of the problems that any SME faces while doing business in the internet era.
- Funding: it’s becoming harder for SMEs to acquire funding without sacrificing a bigger margin of their business shares. To solve this problem, GOJOY aims to provide a suitable solution for SMEs to get funding without sacrificing a bigger portion of their business shares.
- User acquisition and retention: User acquisition is a major challenge for any company on the internet. No matter what services or products they sell, if no one clicks on their link, no one will ever get to know about the products or the services they deliver. This problem blocks many businesses from achieving success. GOJOY aims to provide brands with a zero-cost alternative to acquire a user community.
- Brand recognition: Any online company would like to launch their business on the Chinese, African, and Indian markets where they target about 50% of the world’s population. However, due to language, political, currency, and cultural issues, it’s very hard to launch a brand on a new market. GOJOY seeks to ignite a brand in these markets through the power of word of mouth. The best part is that it will be at zero cost.
In the end, SMEs that adopt the fractional ownership business model will be able to grow significantly.