New Buying.com Blockchain-Powered E-commerce Store Looks to be Pioneer and Rival Amazon
With the Blockchain technology disrupting almost every industry, Amazon, the global e-commerce behemoth, could be getting a worthy competitor soon. In what every crypto enthusiast will like to hear, reports from reliable sources show that a new, Blockchain-backed e-commerce platform is in the offing.
Buying.com, a soon-to-be-launched decentralized online store, will reportedly stock over 50,000 commodities. What’s even more exciting, buyers will have their shopping delivered in less than two hours!
Pegged On The Concept Of ‘E-commerce On Demand’
Buying.com will not operate like Amazon or any other ordinary online shop. Instead, the idea behind its creation is to operate on a unique “E-commerce on demand” model. What this means is that their style of operation plus the operating structure and the quality of services will be pegged on the clients’ needs.
Additionally, the fact that it will be Blockchain-based automatically means that it will be run by tokens. The project’s token infrastructure, Buying.com token infrastructure, is founded on the Polymath Network.
Operations Will First Start In New Jersey
News about this development first hit the headlines in January. Right now, the team behind this project report that they are nine months ahead of their plans. If everything goes well, Buying.com will go live for the first time in New Jersey and effectively serve customers in the area.
It aims to start by serving six zip codes and provide them with more than 50,000 commodities. For each item ordered via Buying.com, the team explains that it will be shipped straight to the customer in less than two hours. They will, however, deliver foodstuff in less than 30 minutes!
If you are wary about the security of your details upon signing up or perhaps shopping from Buying.com, then you shouldn’t. BitGo, a company that has partnered with this Blockchain-powered online store, will handle all-matters merchant and customer security. Buying.com will ideally store all the tokens on BitGo’s super-secure cold storage wallet platform.
A Beta Version Is Out – Worth Checking Out!
As we speak, a Beta version of Buying.com is already operating. Along with it, they have already rolled out a minimum viable product or just MVP, for both the Android and iOS devices. An app, called the ‘Direct Product App’ will also be out soon – its role will be to channel benefits to those who will be working with Buying.com directly – its suppliers, manufacturers, and customers.
The amazing thing with the platform is the fact that it will be devoid of intermediaries. With the distributed ledger technology, outside interference will be unheard of. Basically, you should expect a decentralized and interactive P2P marketplace that regulates itself – a platform where, because of the absence of middlemen, prices will be significantly low.
At the heart of Buying.com is the need to ensure efficiency and transparency and still slash the overall costs. And it has seemingly guaranteed this using the immutable Blockchain technology. Some other details about its working style include Segueing – for dropshippers; use of Proxeus – data storage DApp and a host of other features.
Will It Outsmart The Giants Of E-Commerce?
Whether it will manage to wrestle Amazon, Costco, Alibaba, and Walmart and emerge the go-to online marketplace in the future remains to be seen. But we all have a reason to remain hopeful, especially because it seems it will be a conveniently accessible app-based e-commerce shop. Some of the giants who’ve already accepted Buying.com include HP, Sony, Nescafe, and Ralph Lauren.