In his seminal publication, The World is Flat: A brief history of the twenty first century, Thomas L Friedman emphasized that for countries, companies and individuals to survive in the global market competition they must adopt and implement a perceptual technological shift. As the global economy gets increasingly coupled, the dependencies would increase creating an intricate network of relationships having both positive and negative fallouts. The observation aptly holds true for the e-commerce platform. The sudden rise of the internet, booming of smartphones, and acceptability of social media has powered the growth of e-commerce platforms across the world. With too much improvement in connectivity, both digital and physical, the e-commerce has conveniently been able to provide the last mile delivery without being subject to the limitations of physical distance. Improvement in connectivity has also benefited businesses as they can now easily lookout for suppliers across the world so as to provide goods with attractive offers and at competitive prices to their niche and mass customers alike.
If we go thirty years back in the history and perform a meticulous analysis; it won’t be hard to conclude that the rise of China has been perfectly synchronized if viewed from the Jungian psychological perspective. With the opening up of the economy during the Deng Xiaoping regime, the China marshalled its way to become as the manufacturing center of the world. Without caring for the Intellectual Property rights, the Chinese companies have been able to manufacture goods at far competitive prices as compared to other emerging economies. While improvement in manufacturing technology along with ease of business doing and cheap labour has attracted big industries, the smaller buyers tend to experience a mixed impact. For e-commerce platforms across the world, who buy from distant places like China, its a matter of survival in the fierce global competition if they don’t perform thorough checks. Over last two decades, there have been countless examples wherein the background checks of the suppliers was not properly done resulting in cheating. This not only results in financial losses but if the low quality or duplicate product gets delivered to the customer, it could even destroy the brand image for ever. The other side of the coin completes the paradox. A proper background check results in too increased costs and time consumption. The costs are ultimately passed on to the consumer resulting in price escalation making the survival untenable in the fierce global competitive trade. The e-commerce seller is further forced to look for suppliers offering at cheaper rates who lack credibility thus completing the vicious reinforcing cycle.
Libellum: Breaking the trade paradox
So, how do we break such a cycle. Borrowing the learnings from Thomas Friedman, the answer lies in adoption of technology. Libellum is one such brilliant example that is bound to break the paradox providing a leeway for e-commerce sellers to engage in a meaningful and trustworthy trade thereby positively impacting the consumers across the world in the short and long run alike. Libellum aims to bring together the buyers, suppliers and third-party certification and testing laboratories together over a blockchain powered platform. An e-commerce buyer running the business in the United States, who wishes to purchase goods from the China can easily leverage Libellum’s innovative platform to engage in a low cost trustworthy trade and that too without breaking heads over genuine certification confirmations of the seller. The buyer can easily verify the authenticity of the supplier on the Libellum’s interface. In other terms, the buyer is saved from going through an atrocious procedure of hiring a source company with reputable suppliers that increase costs or hiring a third-party testing and auditing company or simply flying over to the China. Furthermore, the buyer while trading over the Libellum’s platform does not need to go through the humongous web of international laws, product regulations and compliances, the ease of doing business is implemented in the truest form. Most importantly, the Libellum’s platform prevents faking up of certificates by the seller in entirety as it is authenticated over a Blockchain platform. As and when a certificate of authenticity is issued by a third-party testing and certification entity, it will get listed on Libellum’s Blockchain platform providing the buyer an easy access to the verified supplier and product information. Libellum roadmap includes implementation of the two state-of-art technologies to ensure a foolproof system is in place for making the trade safer, cheaper and convenient for the buyers. Firstly, a digitally encrypted QR code that contains all supplier information verified by trusted third-party sources will be implemented. Secondly, all data will be stored on a Blockchain platform making it fully decentralized, transparent and unchangeable. However, the buyers will still be required to ensure due diligence on manufacturing processes and procedures adopted by the seller.
Understanding the mechanics of Libellum’s Supplier Verification
Libellum will be leveraging the disruptive Blockchain technology to power the global trade through its innovative platform. The platform delivery channels will include a Web App and Mobile App. An Android version of the mobile app will be released first which shall be immediately followed by the iOS version owing to the significant time Apple takes to authorize the app. Both mobile and web apps will provide the users with access to a treasure trove of authenticated data that shall include:
Manufacturer List: The manufacturer list will come with a simple to understand and easy to use interface with intuitive
filter options allowing the user to narrow down the seller list by Country, Region or Industry.Certification Tests and Reports List: The certifications list will be integrated with the manufacturer list to complete the authenticity of the supplier data. The user can also sort through certifications based on type, industry, and country. Overall, the user will be introduced to a single window system considered as the hallmark of ease of doing business. Without wasting any time or effort, a user can simply glance through certifications or narrow down to the suppliers, ring them up on phone and inquire about the required product without worrying about the authenticity of the supplier.
Additional Data: Libellum is also planning to add additional data to increase return on investment for the user, provide him with guaranteed value benefits and increase the use cases of the product. What Libellum can do here increase benefits for the user is to create a pool of relevant and authenticated data that could be customized from the user perspective. This will not only unhinge the customer from digging through a rigid and inflexible data pool but also give him the flexibility to do analysis and run various permutations and combinations that could benefit his business.
The entire data will be stored on Blockchain for which Libellum has developed a three-tiered Blockchain model. First, the entire public information that includes the supplier and certification data will be stored on a Public Blockchain making the data accessible to the users. Second, a Private Blockchain will be provided for organizations who wish to ensure the privacy of their sensitive data and ensure maximum security against malicious actors. These organizations will be provided with a Digital ID to access their data. Third, Smart Contracts will be used for communication with the two Blockchains when the user wishes to perform certain activities and tasks on the Libellum platform. With these three Blockchain platforms, Libellum offers a variety of services for different clientele ensuring an intricate balance between privacy, data security and user’s freedom to perform different tasks.
Decoding the Troika of Benefits
Libellum’ platform ensures that the benefits are enjoyed all the indulging parties that specifically includes the buyer, the supplier, and the certification/testing third-party.
Foreign Buyer
A foreign buyer is best placed in the troika as he gets multiple problems solved with just one stroke of technology. It could be relatively safe to conclude that Libellum provides a small step for the seller or the testing third-party but a huge leap for the foreign buyer. The buyer can significantly reduce the manpower, money, time and effort that is presently invested in the orthodox trade model and most of which is consumed in validating the certificates and test reports of the suppliers. With one simple click, the buyer can provide required legal documents concerning the seller for customs clearance. With a platform that ensures fast and low-cost trade, the buyer is able to search for best suppliers across the world and offer goods at a competitive rate making the business tenable in the long run.
Supplier
The supplier or the seller is also able to get his benefits force multiplied with Libellum platform. The suppliers can track all the required certifications in their country and ensure their own certificates are up to date thereby attracting the best buyers across the world. The biggest advantage that Libellum brings for the suppliers is that it cut shorts the long, complicated and time consuming bureaucratic process full of red tape that is required for validating the testing certifications. The suppliers can easily track and get their certificates authenticated without worrying about tampering or mutation of their private data. Suppliers will be provided with a QR code along with a digital signature which they can upload to e-commerce giants like Alibaba. The clients can market their QR code to attract the buyer and all buyer need to do is to scan that QR code and they will be directed to Libellum with all relevant and authentic information about the supplier.
Testing and Certification Third-Parties
The testing and certification entities are presently placed in a tight fix where they have to manage and operate a huge database for tracking all supplier information, their certifications and testing reports. Libellum aims to simplify and fasten up the process for these entities by making the process of tracking certifications simplified over a single window platform. Second, these entities shall be alerted through push notifications on mobile and web apps whenever any certificate for a particular supplier is about to expire. With Libellum, Testing and Certification entities can automate the tracking and notification process, and send a reminder to the suppliers to renew their certificates thereby providing improved services. Moreover, Libellum is also planning to implement push notification alerting feature for expiry and renewal of certification based on type or region. This will significantly enhance the capacity of these third-party entities to maintain a steady record of certification status for their clientele across the globe. Overall, it will save a huge amount of time, money and effort. With improved concierge service, third-party testing and certification entities listed on Libellum will attract more clientele resulting in increased revenue and thriving business.
Innovation distinguishes between a leader and a follower: Steve Jobs
No matter how good and ambitious a plan sounds to be, it can't be successfully executed to fruition unless it is driven by strong leadership. To put it in words of the renowned American Clergyman John C. Maxwell, a leader is the one who knows the way, shows the way and goes the way. Libellum’s ambitious project is backed by strong leadership with relevant experience in e-commerce and certification/testing domains. The project is founded by Manuel Becvar (CEO) and Duncan Cassar (COO). Manual has over 25 years of experience in the retail and manufacturing industry. Manuel established his base in Hong Kong in 2005 and has worked as a Product Manager for one of the retail giants of Europe. What makes Manuel’s presence promising for the Libellum project is his diverse experience in building a large network of manufacturers and testing companies in Hong Kong and China. Manuel, having worked closely with Chinese companies knows the actual ground realities and challenges that foreign buyers, sellers, and testing companies face. Having found ImportDojo in 2015 and AsiaInWest in 2016, Manuel also comes packed with experience in entrepreneurship. His passion for breaking the trade paradox for the triumvirate is proven by the fact that ImportDojo and AsiaInWest were founded to educate users and help them find legitimate and quality suppliers in Asia respectively.
Manuel roped in his buddy Duncan Cassar, who has previously worked with him on several projects including ImportDojo to start Libellum and end the frustration that foreign buyers, sellers and testing/certification third-party entities have to go through. In addition to having a sound partnership experience with Manuel, Duncan also owns an e-commerce brand that sells on Shopify and Amazon USA. Duncan is a renowned social media and brand building expert who has helped many companies successfully establish their online presence and gain customer trust and loyalty through brand building.
A promising leadership needs a promising advisory council and Libellum can boast of having a pretty good advisory council. Patrick Som, a pure technocrat with more than 15 years of experience in companies of global repute like UBS, CSC, and Swisscom, is rendering his services to Libellum as technology advisor. Patrick Som founded Matka AG, a next-gen technology solution provider and is fully supporting the project Libellum. In addition, Libellum is also benefiting from the expert advice of Stefan Stoeckli, Lars Muller, Miika Salosseutu and Benjamin Buergi in marketing, sales, e-commerce, brand building, and legal dimensions.
Token Pre-Sale: Putting the wheel into perpetual motion
Libellum’s pre-token sale will be carried out in 2 phases.
Phase 1: Also known as the Early Investor Program, phase 1 will be allocated 10% (10,000,000 LIB) of the Libellum tokens. Early investors will be able to purchase Libellum tokens for a minimum of 5 Ethereum investment based on the first-come-first-serve principle. In fact, you can purchase the entire lot if you are willing to. The freedom to purchase all the tokens will attract big investors further consolidating the brand and trustworthiness of Libellum project.
Phase 2: Also known as Main Pre-Sale, Phase 2 will be allocated 40% of the LIB tokens. Unlike Phase 1, there is no minimum investment criteria in Phase 2. Libellum plans to use the funds raised from phase 2 to further develop the brand, build technology partnerships, market their product and raise awareness among the potential users across the world and improve the technological prowess of the platform. Libellum also has a backup plan for the unsold tokens, if any. In case phase 2 tokens remain unsold, a public sale might be held at a predetermined price of 0.1$/LIB.
Benefits and Bonuses for Early Birds
Early bird investors and Phase 2 investors will be able to purchase LIB tokens at a predetermined price of $0.05/LIB (50% discount) and $0.08/LIB (20% discount). Such a huge discount rate is definitely going to set the pre-sale on fire and only the lucky ones might end up with this promising token at an unbelievable price. Interested investors can visit the official Libellum website and register to participate in the Pre-sale. All investors are required to complete their KYC and wait for a response from Libellum via its official email address ( info@libellum.io) for the confirmation of their participation. Libellum has restricted citizen of the US, Canada, Singapore, Vietnam, and China from participation in the sale. However, the participants from The Hong Kong Special Administrative Region (HKSAR) are permitted.
Website : https://www.libellum.io/
Telegram Group - https://t.me/libellumofficial