ApolloX Protocol : Empower Decentralized E-Commerce Marketplace
Recently, e-commerce marketplaces have become an ideal virtual space for merchants and customers to carry out transactions for goods and services. For large companies, the electronic commerce meets the need to compete more effectively with their competitors, while small and medium companies are mainly focused on achieving new customers. Even with successful integration of the e-commerce platform with the company’s homepage, there are still serious obstacles to the customer’s engagement since many of them are unsure about the reliability of the payment system provided on the website.
At the same time, e-retail sector has been long dominated by such giants as Amazon and Walmart, both remaining miles ahead of their competitors and therefore introducing additional commissions to basic seller fees. In this light, Apollo X perceives the need for easy access to the marketplace for small and medium-sized companies (SMEs) and intends to bridge together small and medium retailers with global market participants. Furthermore, Apollo X will not just take advantage of existing market inefficiencies, but propose a comprehensive model to facilitate e-shops by providing the Apollo X Protocol and building a decentralized marketplace.
Securing transaction: Apollo X Protocol
The reliability of data storage and purchase protection are two significant aspects to be taken into account when building an e-commerce marketplace platform. To enable all options related to digital transactions and secure sensitive data, Apollo X will utilize its in-house protocol.
Generally, Apollo X Protocol will comprise four modules. The Attribution Protocol will manage data flow between sellers and publishers and maintain any activities related to advertisements. The Payment Protocol will secure P2P transactions preventing any fraudulent activities. Payment transactions with the use of APXT tokens will be additionally protected with the system of smart contracts. Fiat transactions, however, will be also acceptable. The protocol will also process shipping activities, so that sellers will be able to offer various delivery options. This option can be particularly interesting for international sellers and customers who purchase products from abroad. That is, provided that a customer is willing to wait a little longer for the goods to be delivered, the price will be reduced. Whenever a dispute arises between the stakeholders, one of the parties can open a case to be solved by the mediators. For this, Apollo X has elaborated the Arbitration Protocol and relies on the so-called Deposit-Challenge-Vote system. Finally, the Reputation Protocol will uphold the quality of reviews submitted by the customers. The Apollo X Oracle Protocol will process logistics and advertising data.
Apollo X Protocol will certainly help businesses overcome boundaries associated with incentivizing customers to purchase from their e-shops. That is, by implementing ApolloX technology, sellers will be able to launch their independent web-stores on blockchain. This will not only guarantee data protection, but also help companies learn more about customer preferences and consumption patterns, as customers can provide brands access to their shopping profiles and receive financial rewards.
A tokenized model: APXT Token
Apart from serving the main purpose of purchasing goods and services, APXT tokens will be used as an operating unit in loyalty and reward programs. In this case, tokens can be used to receive rebates. Apollo tokens will be also used as a means of payment for logistics services. Additionally, supporters can receive tokens for the services they provide to sellers, such as translations, marketing activities, etc. Users will also receive a certain amount of tokens for creating a shopping account and sharing their shopping history. Token holders who maintain token assets for a period of time, will get a Premium Status.
ICO Details
Public ICO will start in October 1 and close on October 15, 2018.
Recent evidence has suggested, that the adoption of the advanced digital technologies is only a part of the process aimed at integration with e-commerce marketplaces. In fact, high initial investments involved in establishing company’s e-retail presence remain the main barrier to its adoption by the SMEs. A blockchain-based application by ApolloX is not limited to any particular level of the e-retail value chain. Conversely, it can be utilized for a vast range of processes, such as secure payments, marketing strategies, loyalty programs, etc.
Naturally, there is no surprise, that ApolloX plant to launch the ApolloX Marketplace fully operated by the in-house infrastructure. The Marketplace should become a hub of the decentralized e-commerce network offering secure transactions, loyalty programs, a post-purchase service and advertising. Large-scale development plans include elaborating extension to integrate with different platforms, in particular with Shopify and Magento.
Links:
Website: https://apollox.network
WhitePaper: https://bit.ly/2OqO8Ve
Telegram: https://t.me/apolloxgroup
Facebook: https://www.facebook.com/apolloxnetwork/
Twitter: https://twitter.com/apolloX_network
Medium: https://medium.com/@apolloxnetwork
ANN: https://bitcointalk.org/index.php?topic=4650252
Author: SanZoldyck
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