REVIEW OF WINBIX( The Sales System)

PRESENTATION

The Blockchain technology has made it possible to issue just about any asset via a distributed ledger framework. With the aid of cryptocurrency tokens, these assets can be given economic value in order to initiate and validate several transactional processes. Several on-chain protocols have been developed by a number of startups and established companies alike in order to create blockchain-based solutions.

Since the emergence of blockchain technology in 2008 when Satoshi Nakamoto introduced bitcoin,there have been rigorous efforts to apply the blockchain to several aspects of the global business process, Blockchain technology has been described as having the potential to disrupt many industries with low-cost transaction, immutability, and enhanced security. In the years that have followed, many other blockchain implementations have been developed with each one exhibiting unique features tailored to specific use-cases.

ABOUT WINBIX

The WINBIX System is designed to create a new sales channel that would make it possible for the Seller to sell the products with maximum efficiency and for the Buyer to buy for a reasonable price.

Furthermore, WINBIX System is intended to make another business channel that would make it feasible for the seller to sell their items with most extreme productivity and for the buyer to purchase at a sensible cost.

THE FEATURES

The Winbix System has some amazing features as stated below:

The Minimum price per each lot, is determined randomly subject to the minimum price corridor established by the Seller, i. e. the minimum price per each lot is different and the value thereof remains unknown to the Buyer.

Opportunity to create quotations for Sellers and, if approved, to purchase products at the desired price.

DAICO performance enabling the investor’s maximum protection

The time interval for the price reduction, is set by the Seller for every item

Issue of personal WBX tokens (ERC-20)

Stock balance is unavailable to the Buyer, each lot (item) may be the last one.

Price reduction increment is determined randomly, in the range of previous price and stop price; thus, each subsequent price value remains unknown to the Buyer.

Buyer can set any price value at which the System should notify the Buyer. This information is available to the Seller and provides an opportunity to forecast demand at different price levels.

There is an established direct correlation between the Seller’s sale costs and the quality of provided services.

Settlement of disputes by arbitration involving Sellers, Buyers and the System.

Buyback and destruction of tokens at fixed prices through the BUYBACK smart contract.

Creating and financing the SECURITY smart contract (Ethereum security unit).

THE AIM

The aim of the Winbix project is to create a new sales channel that will allow the seller to sell goods at the price of demand, and the buyer to purchase at the desired price. Naturally, the idea is very worthwhile, so the Winbix project management took care of intellectual rights and has already applied for a copyright patent. The basis of this system is the auction on the contrary, that is, the price does not rise, but lowers to a certain limit, which is determined randomly by the Winbix system.

THE ADVANTAGES

For the Buyer

An opportunity to purchase products at the desired price. Even if the products price drops to the “stop price” level and this level is unacceptable, the minimum price will be different at the next bidding stage (either higher or lower).

Furthermore, it is not excluded that the products could be attributed to the “sales without stop price” category. To maintain control over the position, it would be necessary to set the tag “send price reduction notice.”

For the System

The content is being updated constantly due to price changes influencing the resource traffic;

Non-linear price changes draw the Buyer’s attention to each stage of price reduction.

For the Seller

Extra profit from sell-outs due to uniform distribution of sales along the "price" axis;

Each item is sold at а currently fair price;

If necessary, prompt disposal of the stock balance (stocks) by adjusting the price reduction time;

An option of adjusting the sales volume by changing the “stop price” range;

Marketing activities – focusing the audience’s attention on priority positions (sale of products not including any “stop prices”);

Buyer feedback (“price reduction notice” tag) that makes it possible to forecast demand in case of changes in the price lower limit. The Seller will know the number of Buyers ready to purchase the products and the relevant prices for every position. For example, 10 persons are ready to buy a certain pan model for RUB 2,000 while 200 persons can buy it for RUB 1,300.