Thanks to Buying.com and its ground breaking Prime Protocol, we're now closer than ever before to achieving eCommerce on Demand. Find out more now. #Buyingcom #buy #eCommerce #OnDeamnd #PrimeProtocol #ICO #blockchain #technology #investment
What is Buying.com?
Buying.com is user-centric e-commerce platform with the aim of providing a direct link between product manufacturers and the customers. By use of blockchain technology, Buying.com hopes to decentralize the supply chain process for products through harnessing the power of the distributed ledger technology.
Along with other innovations such as bulk pricing, e-commerce solutions, cryptocurrency, and real-time logistics, Buying.com sets to enable consumers directly buy from their manufacturers, wholesalers or distributors through what is called the Minimum Order Quantities. Together with Buying.com’s original protocol (WeBuy), the MOQ combines to allow users to leverage a higher purchasing power within the millions of consumers and small businesses.
Features of Buying.com
E-commerce platform: Buying.com already runs an e-commerce platform on Dropshipper.com as they look to build their blockchain model plus where first to implement it.
DPA App: The Direct Product Access app is the decentralized application for the community to offer commentary and feedback on their buying and product experience. The app will also give a direct link to social media profiles to build on social interaction between manufacturers and customers.
How it Works
In reality, Buying.com will allow customers to post product relates to manufacturers through the DPA App directly. Once on the platform, businesses or individuals will get access to the bulk pricing deals. If the product’s MOQ quantity is not met, the consumers can opt for the promotion option. All these will operate under smart contracts alongside the platform’s Tipping Point Technology.
If the sales deal is successful and the product’s MOQ is available, then the smart contract automatically triggers the purchase order to the necessary warehouses. The products are then drop-shipped to the customers similarly to the case of having to order from an online store.
How Can Buying.com Benefit E-commerce?
Trust and transparency: Using blockchain allow the consumers to identify the life-cycle of the products, potentially preventing product manipulation along the way.
Reduce counterfeits: The direct linking of consumers and manufacturers eliminates fraudulent distributors who could pass off fake goods as the real products.
Transparent supply chain: Blockchain ultimately enables the storing of information to know the product’s lifecycle from the beginning of the supply chain. Buying.com enables a direct factory-to-home or fork-to-table kind of circumstances transparently.
Outlook On The Potential
Despite the challenges ahead, Buying.com is among the leading ventures forging with using blockchain to instill changes in e-commerce. While the anticipated changes might not happen soon, Buying.com puts the consumers in a much better position compared to the existing e-commerce structure in an entirely different way.
ICO Launch Dates and Token Metrics
The company will create 500 million Tokens to be allocated as follows:
(a) 50% (or 250 million) will be made available for sale (the “Sale Tokens”).
(i) Of those, 100 million were made available for purchase during a Pre-Sale Tier 1 prior to the commencement of the public Crowdsale (the “Pre-Sale”).
(ii) Of those, 100 million were made available for purchase during a Pre-Sale Tier 2 prior to the commencement of the public Crowdsale (the “Pre-Sale”).
(iii) Of those, 150 million were made available for purchase during a token Crowdsale 1 prior to the commencement of the public Crowdsale 2 (the “Crowdsale”).
(iv) Of those remaining, 150 million was made available for purchase during a public token Crowdsale 2.
(v) Any Sale Tokens that remain unsold at the Crowdsale End Date will be burned.\
(b) 15% (or 75 million) will be allocated to the Company (the “Company Inventory”), for its use as follows:
(i) All of the Company Inventory will remain in a locked state for one year from the Crowdsale End Date.
(ii) Once unlocked, Company reserves the right to use the Company Inventory for any purposes at its sole discretion.
(iii) In no event will the Company sell any Tokens from the Company Inventory before
(c) 7.5% (or 37.5 million) will be used to promote adoption of the Ecosystem via rewards and other incentives for participants (the “Incentivization Supply”). Some of the ways in which Company anticipates using the Incentivization Supply may include:
(i) Early adopters in the form of strategic partners or acquisitions (Manufacturers, Consumers, Logistics Companies (“Partners”) who implement Company’s Decentralized E-Commerce solution will receive free Tokens from the Incentivization Supply, enabling them
to pay some fees in Tokens and to benefit from any rise in utility brought about by greater adoption of the Ecosystem.)
(ii) Users may also receive Tokens from the Incentivization Supply. For example, at sign up via a Company supported website, the website owner, a Partner, and new Users
may receive a certain number of Tokens, and Users may also receive Tokens for referring new participants to the Ecosystem.
(iii) Company reserves the right to prescribe lockup requirements regarding the Incentivization Supply Tokens distributed to Partners or Users.
(d) 15% (or 75 million) for the Founders and Management Team. All of these tokens will remain in a locked state for 1 year from the Crowdsale End Date.
(e) 7.5% (or 37.5 million) for the Advisors. All of these tokens will remain in a locked state for 1 year from the Crowdsale End Date.
(f) 5% (or 25 million) for Bounty programs & contingency.
(g) The funds raised at the Pre-Sale Tier 1 and Tier 2 will be set aside to pay for the costs of the Crowdsale, with such costs including, but not limited to, legal, consulting, and other professional services fees. Any Tokens remaining after the payment of all such costs will be added to the Company Inventory and subject to a minimum of a one-year lockup.
See more information about the project:
- Website: https://www.buying.com/
- Whitepaper: https://www.buying.com/assets/documents/BuyingComWhitePaperLatest.pdf
- Buy Token: https://vault.buying.com/
- Telegram: https://t.me/buyingcom
- Bitcointalk Ann: https://bitcointalk.org/index.php?topic=4925094
Author: Bountyhive Username: nguyenvantu