Origami Network ORI: Blockchain Marketplace, Escrow & Reviews?
The origami Network is one-stop-solution for your decentralized marketplace needs. The platform intends to use the blockchain to resolve some of the issues that exist in modern online marketplaces such as maintenance, development, payments, reviews, and escrow.
The evolving nature of blockchain technology is allowing companies run B2C and B2B marketplaces, which are designed to be cheaper and faster than ever. However, the current marketplaces still have major flaws. Firstly, the speed and cost of these marketplaces can still be improved.
Besides that, the escrow payments are still quite costly and far away from accepting payment in digital currencies. The other issue is the review process of these online marketplaces is still quite flawed. These issues have to be addressed if these marketplaces have to become decentralized.
The Origami Network Solutions
The Origami network is a decentralized platform that aims to solve the current problems that exist. The network already has a working product, and several customers are already reaping the benefits of this network. It offers three platforms of the Marketplace, Payment, and Review. They are intended to work in a complementary manner. However, they can be utilized in a modular fashion or together.
This is the only network that uses the blockchain to provide global solutions for the decentralized marketplace. It makes using these marketplaces faster and easier than other existing solutions.
The Origami Payment System
This is a decentralized payment system, which is powered by the Ethereum blockchain and ORI, which is an ERC20 compatible digital token. The payment system enhances the selling and purchase process that has escrow system powered by the blockchain. It ensures they are flawless third-party dispute resolution, secure payment, and low transaction costs. The payment system can be integrated into existing or new marketplaces. It can also be used in marketplaces that do not handle payments directly.
The payment system is designed with the P2P marketplace in mind. These are transactions where the trust between a buyer and seller is limited. The system helps online marketplace business add a payment system secured by the blockchain. The good thing about this system is that the cost is quite low, which allow relatively small transactions to take place in a profitable manner.
To start with, the Origami payment system will accept Ethereum, Bitcoin, and the Origami tokens to start with. However, they intend to add other cryptos in future. The escrow system will be secured by the ethereum smart contracts. The entire system is automated, and there are no third parties controlling the transaction, which leads to lower fees.
The Origami Blockchain Marketplace, Escrow & Reviews API
The API covers the entire operational cycle required by an online marketplace such as pay-in and payout transactions, wallet statements and an escrow system. In most countries, a banking license is needed to handle money for third parties. The Origami payment system thus allows you to concentrate on your core business.
Origami Network ORI ICO Details
The ICO has a hard cap of 5,000 ETH. There will be fifty million tokens. Of these, 30 million will go on sale during the ICO, 6 percent will be set aside for bounties, and 34 percent will be used for bonuses. The rest will be held for product development, marketing, and legal issues.