What Is Zcnox?
Zcnox is a blockchain-powered open marketplace designed specifically for the African continent. Essentially, this project aims to integrate the powerful features of distributed ledger technologies such as smart contracts, digital currencies and immutability into the online business landscape. Ultimately, Zcnox intends to simplify the process of setting up e-commerce stores, while increasing the profit margins of the established enterprises.
Current Market Situation
In recent times, there has been an enormous proliferation of entrepreneurs in Africa, primarily due to massive population growth, despite the global improvement of the online business industry, this sector still lags behind in the African continent.
Challenges Facing Business In Africa
Setting up an online store is a challenging and expensive task. Besides development expenses, an investors has to set aside funds to promote the business even before its launch. Overall, this process demands massive cash injections, a factor that impedes many ambitious individuals form delving into the e-commerce sector.
Distrust In Online Business
Due to high prevalence of online fraud, most consumers have reservations about online shops. Also, the delivery of substandard goods by online stores has negatively impacted the number of sales made on these e-commerce outlets.
Africa is home to variety of different cultures, which means that an e-commerce business has to be tailored towards a certain ethnic group. Furthermore, it is difficult to trade across African countries because of the varying financial regulations.
Dominance Of Fiat Money
Despite the presence of numerous electronic and mobile payment methods, Africans still prefer to pay in cash (Cash on delivery). This approach is very risky, as the driver is vulnerable to attacks since people know that he/she has money. Moreover, a buyer might decline to buy an item, meaning that the merchant incurs a loss in form of the transport fee to and fro.
Poor Transport Infrastructure
Some parts of the African continent have extremely poor roads, rendering them inaccessible, especially during the rainy seasons.
A portion of African adults cannot navigate through popular e-commerce stores such as Amazon and eBay.
The Zcnox Buy, Sell & Distribute Goods Blockchain Solution
The Zcnox blockchain-driven platform will put a halt to these issues inhibiting the growth of e-commerce in Africa. As opposed to the existing online business creation modules, which require programming knowledge, Zcnox can be deployed by a layman within a remarkably short period of 10 minutes. The main features of the Zcnox ecosystem include;
- Affordability- Zcnox offers a cheaper alternative for sellers who want to create an online shop.
- Integrated Inventory – sellers can keep track of their stock levels using this feature.
- Free Marketing tools – it is free to advertise on the Zcnox platform
- Bigger audience – by using the Zcnox system, businesses expand their scope of operation.
Zcnox ZNC Token ICO Details
Zcnox will produce a limited number of ZNC tokens, the native cryptocurrency of this project. To realize the ambitious goals of this project, Zcnox will issue its ZNC tokens during a crowdsale event.
Parameters Of The ICO
- Ticker: ZNC
- ICO supply: 14,000,000 ZNC
- Token sale starts: 20th April, 2018
- Token sale ends: 13th July, 2018