The multi-billion dollar ecommerce industry is not entirely free from external control. There has been massive drive to use the system instead of walk-in stores. Nonetheless, despite downsides, ecommerce is on gradual rise and is set to be the next order in the consumer retail system.
The project on ground, Plaza Systems aims at decentralizing the industry with the help of the blockchain technology. It also wants to position ecommerce for better days ahead. Currently, there are varieties of products that will see this dream come true.
INTRODUCING PLAZA
There is no doubt that buyers are not fully happy with inordinate charges and will be pleased to port to another service if any was available. The project here is specifically targeted at improving the user experience and overhauling the entire ecommerce approach.
There are numerous downsides that threaten existence of the industry. First, there are intermediaries such as ecommerce sites that allow merchants display their products for sale. These middlemen often make inordinate financial demands that leave sellers at their lowest ebb. The downside is that fees will be astronomically increased; leaving buyers disgruntled paying higher fees for products.
Plaza aims at making freedom the best feature in ecommerce and had taken the step by removing third-party interference with the use of smart contracts. In the same vein, there will solutions to constant abuse of buyer privacy as entrenched in malicious derivation made from their purchase history. This data gives merchants insight on what buyers want and provide products that will suit them.
HOW IT WORKS
As stated earlier, Plaza is interested in bringing the power of the blockchain to the overly centralized ecommerce. With its coming, there will be no middlemen, less fees and protection of user information. This is something that had not been done before because such data was used to enhance marketing and digital campaigns.
E-COMMERCE BLOCKCHAIN
What is ground is more than a blockchain-based project; it is actually tailored solution that will bring the decentralized world to ecommerce. To this end, Plaza is touted as the fastest blockchain platform that will be effective in the online shopping. How this came to be is its composition of patterned products that will see to the overall improvement of the sector.
The system is repositioned; this time, the buyer will be having sellers’ detail instead of the latter doing so. Interestingly, you can make your purchase on private mode (cloak) without having incidence of losing your information along the line.
REWARD MECHANISM
Loyalty programs are integral part of retail systems including online-based shopping. Worthy customers are given incentives (loyalty) that allows them make some purchase at discounted rates and in some cases, free.
Plaza reinvents this by allowing buyers earn from their purchase. The idea is that you don’t have to part with your data or having strenuous recall of coupon codes to redeem your points. In the same vein, vendors (sellers) are allowed to use the Plaza Reward Structure in creating loyalty programs that will be issued to buyers.
MATCHING SALES
Most times, a seller might pass days without sales. Buyers on their part have to make frantic searches to locate products they want. The project here uses the blockchain in making things work for all parties.
There is a meta-engine that scurries the marketplace and places the right set of products a buyer wants before him. It is important to note here that there is built-in marketplace that allows for easy trade among parties.
The marketplace has impressive features such as payments using cryptocurrencies and protection of user data. This means that you won’t have to lose your information such as purchase history with merchants that use same for marketing nor bother about how to use your crypto funds for purchase. All that had been solved on Plaza Market; marketplace that protects your information and allows you make purchase with crypto funds.
STABLE TOKENS
There are two crypto tokens. The first, the PlazaDollar (PL$) is meant to be a stable coin that will regulate the other token and toe the line of fiat currencies while the Plaza Token (PLAZA) is the primary currency for purchases on the platform.
FUNDING AND INCENTIVE
There is also opening for crypto fund withdrawal. You can withdraw tokens and crypto funds at supported ATMs. There is also opportunity for you to earn tokens on Plaza Concierge. Token rewards can be earned when you mine tokens. On the other hand, there is the Plaza Card, a conventional debit card that allows you withdraw cryptographic funds from your account.
Conclusively, Plaza Systems has team that had been in the business of e-commerce for decades. Their combined experience had led to discovery of last-mile hitches in the industry and steps to reposition this had been bedrock to the project.
On its part, the project is keen on improving the fortunes of e-commerce and making involved parties (buyers and sellers) see reasons to continue with the system.
Interestingly, the era of spending crypto funds is here because you can spend on the marketplace and withdraw from specific ATMs. In a nutshell, Plaza Systems is e-commerce at its best.
TOKEN SPECIFICATIONS
Symbol: PLAZA
Platform: Ethereum
Token Standard: ERC-20
Token Supply: 960 million
Hard Cap: 100, 000 ETH
Price: 1 ETH=5,000 PLAZA
Accepted Payment: ETH
Country of Registration: Singapore
Restricted Countries: China, the USA
MILESTONE AND ROADMAP
THE PLAZA TEAM
For more information about Plaza systems, kindly visit:
Website: https://plaza.systems/
Whitepaper: https://plaza.systems/whitepaper
Facebook: https://www.facebook.com/plazasystems
Telegram: https://t.me/plazatalk
Twitter: https://twitter.com/PlazaSystems
Writer bounty0x username: Crypto4ruby