Bitboost & The BLOCK
We Love Internet Shopping
Online shopping has become the norm. *In 2016, 1.6bn people are estimated to have purchased goods via the internet at an astonishing value of $1.9 trillion, with projections expecting over $4 trillion by 2020. We like to shop from our desks and our sofas, beds, kitchens and for some, even the bathroom too. *Data from STATISTA
Everyone Can be a Shopkeeper
To help cater for the huge demand, many people's lives have been directly transformed by the internet's ability to provide them with an online store & a reach into a worldwide marketplace where they can directly sell their own goods, right around the globe. It's an inspiring 21st century story of the entrepreneur.
For anyone wanting to start an online business, there are a range of marketplaces & platforms available, from Etsy to Shopify, Amazon & Ebay, but fees can be so high as to wipe out profits. The existing marketplace options are generally not very secure, or offer little in the way of privacy for the buyer and the bombardment of ads can make online shopping as tedious as a trip into town.
CLICK HERE TO WATCH A SHORT ANIMATED EXPLAINER of THE BLOCK
BitBoost & The Block
Coming straight out of the heart of Crypto Valley, Bitboost have developed the BLOCK & are taking the online marketplace straight onto the Chain. It's a no brainer with many advantages for the consumer & the vendor. High levels of security & privacy with low fees make this an attractive combination for the future of shopping & selling online. It's packed full of features, so let's take a look under the hood.
Ethereum
- It's an Ethereum Application, one of the most trusted, accessible & secure platforms in the crypto world that comes equipped with smart contracts; the new standard for automatic contract fulfilment. They rely on nobody to fulfil them & so are trustless. It's de-centralised. I can't emphasise the importance of this enough. Nobody can tamper with it or censor it. It's very difficult to attack, residing in so many locations. It's stable & on 24/7. This is the BlockChain Revolution in action & applied to the online marketplace, is another example of a highly disruptive model for the future, NOW.
BLOCK core features
Privacy. It's totally secure, It's Crypto! it's encrypted. Nobody can see your order or your messages to sellers / buyers or shipping addresses. Shopping on an encrypted BlockChain means you don't need to give up your private details to anyone and using the built in wallet, you don't need to give up your treasured credit card information, which as we know, can fall into the hands of criminally minded people especially when those details are held in (ahem).. centralised data centres.
Escrow services have been used by lawyers, for big money deals & property purchases as standard for many years. It's now becoming standard practice across the crypto sector. Escrow is a popular way of holding funds in a third party account until everyone is satisfied that the goods have been provided, as described and in good order. The buyer doesn't have to resort to opening a case against a seller about how their package was damaged, the wrong colour, size, etc. Sellers can also choose their own Escrow service providers for full accountability and fairness.
Live Version Release Features
- The use of Neutral Arbiters will be introduced as the comprehensive Roadmap rolls out. Arbiters can access both sides of the transaction data & so can impartially resolve disputes in a fair and objective way.
For the Vendor
I'm a designer & I want to sell a range of my designs as upmarket silk scarves. I had some samples printed and photographed. I worked out costings, (silk is expensive). To print small runs of less than 1,000 pieces is also pricey, so my profit margin was slim but enough to make it worthwhile. I would make about $15 profit per sale. I did my market research which helped refine the designs. I sought advice from professional buyers, potential customers & retailers. When I explored the various routes for selling online, it was either;
a) do it all myself with a website from scratch, run my own marketing campaigns, social media, etc, (way too much work and I'd have to pay for hosting, domains, mailboxes or
b) choose an existing platform like Etsy, Shopify, Squarespace or 3dCart. While these channels can be profitable for a number of established retailers, the costs just didn't add up for my Brand plan. Commission fees, item hosting fees & yet ANOTHER fee for payment processing reduced my slim profit margins to almost zero. So I put the project on hold.. Until now. (here's a sample of my 2017 design range)
Low Fees - A Crucial breakthrough
- Bitboost have been able to reduce their transaction fee to a flat $1USD. That's the low cost promise of the BlockChain, fulfilled yet again. There are no buyers fees, image hosting is free and the Block takes ZERO percent from your sale. Now my scarves can make that all important $15 slim profit margin, which is beginning to look quite attractive. For every print run (1,000 scarves) I sell, I would make $15,000 profit-minus ($1 each sale).
Planned Feature Post Live Release on The BLOCK
Instant Searchability as you type. Caching servers interact with the Ethereum Chain at faster speeds.
Built in Ether wallet as standard / you can also buy Ether within the Block using Bitcoin.
Available as a Native App on all platforms Win / MacOs / LINUX with customisable themes and a handy bookmarking system for searches, items, sellers.
Live Launch in 20 languages to truly become a global marketplace.
Roadmap
TOKEN GENERATION EVENT
You can buy (BBT) tokens now @ $0.46 CLICK HERE to Visit the ICO Page
READ THE WHITEPAPER
You can find out more details about The BLOCK HERE
BETA VERSION
Try out the BETA. You will need a test wallet, test Ether & test BBT.
CLICK HERE to FIND OUT MORE.
ENTER AN ARTICLE HERE AT @originalworks
This article is not an endorsement of bitboost or The Block. I always recommend investors conduct their own research before investing and not rely solely on the opinions of others.
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