ApolloX Protocol - the Revolution in E-commerce
Hello, world! In this blog, I always speak about how the decentralization can change our lives for the best. Everybody would agree that e-commerce has made our shopping routine much easier. In this article we will follow the major pros and cons of traditional online shopping logic and oppose it to the revolutionary ApolloX protocol powered by the blockchain.
The Internet is the phenomenon of the 20th century, and the phenomenon of the 21st century is the Blockchain. The further has brought e-commerce in our lives, the latter is bringing it to a whole new level.
Although e-commerce as an industry has been growing every year, it still cannot solve the major problems such as quality issues; unclear dispute, return and guarantee policies; payments failures; high prices and additional charges and the lack of security. ApolloX protocol is a perfect solution to all these problems. Let’s take a closer look at the problems and the ways they are solved by ApolloX.
Problem #1: Quality Issues.
As long as you buy from an online-shop in your country, you can reach the seller if you have any sort of problem with the item you received. You can call the retailer or even come to the office. But what if you buy something from an overseas retailer? You may receive a product of bad quality, or a defective item. To avoid such problems, you’ll buy from a trustworthy seller or marketplace. And here we come with another problem of the existing e-commerce model: it is based on trust. We assume that the seller is not fraudulent but we never know for sure. But if an online shop or a marketplace is powered by ApolloX protocol, quality issues will never appear. Every person is granted to receive exactly the same product he ordered. All the data about the product and its description are stored onto blockchain. If a retailer changes any data, the buyer will be immediately notified about it. Such a pattern minimizes any sort of fraud and eliminates the trust factor. In case any fraud takes place, a buyer can open a dispute.
Problem #2: Unclear dispute, return and guarantee policies.
If you buy from a large marketplace, it usually serves as a judge in any sort of dispute. It means that you have to persuade the administration of a marketplace that the item you’ve received does not correspond to its description. And everybody who ever bought from Aliexpress knows that it is not as simple as it may seem to be. The same applies for guarantees, as most sites don't clearly mention what the policy is for a product and then refuse to carry out replacements if you receive a damaged product. But if you buy from a marketplace powered Apollox protocol, any dispute becomes totally honest and transparent, because all the data about the purchase is available for the parties engaged. The smart contracts store the buyer’s money until he confirms that he received the product and is satisfied with it. After that, the contract sends money to the seller. such a pattern provides far more pleasant user experience.
Problem #3: High Prices and Additional Charges.
A small seller has no chance to hold a large advertising campaign as a rule. He is short of money for it, so he usually tries to join a popular marketplace with large daily traffic. The problem is that a seller usually has to pay around 30% of his revenue to the marketplace. Additionally, the seller pays some fees in order to be listed there. These fees amount depends on the number of the products or on their average price. Now it becomes clear that the prices we see are much higher than they actually should be. Another common problem is shipping fees. Sometimes they exceed the product’s price which is a total nonsense. ApolloX protocol solves these problems with ease. The very idea of Blockchain-powered protocol means that all the intermediaries are eliminated from the purchasing process. Ethereum-powered smart contracts help the buyers avoid unexpectedly high shipping fees, so everything is clear and transparent. P2P shopping model makes it possible to reduce the prices by nearly 40%! At the same time, the seller doesn’t lose the revenue, so there is always a chance that he could make a sale. Attractive, isn’t it?
Problem #4: the Lack of Security.
Any user provides an online-shop or a marketplace with a huge portion of valuable personal data. All this information is available for the site administration. We all know that sometimes large information leaks happen even from the leading resources: they get hacked or maybe an admin who was laid off or redundant could place some viral code in a root folder. The consequences are usually terrible: people lose money from their cards or become victims of identity fraud. Within ApolloX protocol, all the personal data is encrypted. Any sort of user activity is being recorded and then encrypted, but it could only be decrypted by the party who owns the corresponding key. There are a number of such keys and every party involved has restricted access to the files he deals with. Any user has a possibility to choose who he is ready to disclose his personal data to. ApolloX provides the best possible level of security to its users and guarantees the data safety.
I think that I’ve said enough about ApolloX to deliver my point of view. The Blockchain is here for people, it is the most social and community-based technology.
If you feel you want to learn more about ApolloX, visit their official website
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