Centralized corporations have found ways to extract intimate value from Shoppers based on interactions across the web via centralized marketplaces, social sites, and search. Shoppers authorize the sharing of their personal data in the veil of optimizing their experience when in reality their personal data is being monetized, sold, and utilized for the benefit of the centralized companies. Shoppers put up with these practices for the sake of convenience, not having a legitimate alternative, and many simply do not understand the level of privacy they are giving up.
Currently, there is no way to integrate data in a decentralized manner to prevent these data monopolies and give value to both the retailer, the brand, and the consumer. SHOP is providing a way out of this problem.
What Is SHOP?
SHOP is a Shopper and Brands led cooperative which will develop a distributed, open protocol(SHOP Protocol) to increase the efficiency across the shopping landscape incentivizing members to improve the protocol by their participation and interaction.
The SHOP Protocol aims to remove the middlemen from the Shopper and Brand relationship. This protocol makes it possible for Shoppers to take all the benefits of their digital footprint, retaining personal sovereignty over their data and permissioning of the information they want to make available. This will put the shoppers in control.
SHOP Token ICO Details
The SHOP token is the primary currency of the ecosystem. It is designed to support a democratic information marketplace. An enormous amount of information is created through the protocol, from shopper reviews to delivery options. This information can be accessed by any company or shoppers in exchange for SHOP Tokens. In essence, these tokens represent the value of the protocol’s information.
SHOP Token crowdsale will begin on May 14, 2018 with 1 billion authorized tokens in its inventory. It can be purchased using BTC and ETH. The funds received in the token sales will be utilized as follows:
- 10% will go in the operations, Legal and Patents.
- 20% will be utilized in protocol development and scale
- 35%, the largest cash will be used to target an acquire Shoppers.
- 30% of the funds will be used to seed new projects and technologies in order to help the ecosystem progress.
- 5% will be given to the founders as compensation.
SHOP Online Retail Shopping Crypto Coin Conclusion
The overarching future of the SHOP protocol is to democratize data in the retail landscape. The next steps of this democratization would be to not only ensure that data is shared but also to establish general schema through which a variety of apps can be built for. This would ensure that equal access to the value and insights created by this wealth of data.
Further aspects of evolution would include the addition of manufacturers to the SHOP supply chain and even integrate point-of-sale systems for product purchases and product orders.
More information about the SHOP protocol and SHOP Token is available on their website