Sessia – Blockchain Technology Transparency For Crypto-Goods Exchange

Introduction

Since 1994, with the arrival of Amazon and eBay, the way people buy and sell has completely changed.

Early marketplaces had limitations, however they opened up new opportunities for producers, sellers, and consumers. Online marketplaces shook brick-and-mortar stores, urging every store owner if not to completely shift online then at least to have a presence there.

Today, we’re witnessing a new cycle of marketplace development with the emergence of blockchain technology. Disrupting nearly every industry, the blockchain provides new opportunities for marketplaces, changing how we make transactions online and in our everyday lives.

If your business manages a marketplace, then we suggest considering how blockchain technology will impact marketplaces. We should start with an obvious question:

What’s the blockchain marketplace?

The blockchain is a platform-like technology that consists of a decentralized ledger that records, verifies, and tracks cryptocurrency transactions and contracts between parties.

Blockchain-based or decentralized marketplaces, in turn, are peer-to-peer networks that directly connect consumers and sellers without any intermediaries.

A decentralized marketplace connects three group of users: producers, sellers, and consumers.

Just like with traditional online marketplaces, with decentralized marketplaces producers supply information about their products. Sellers also offer product information and content about their goods. Consumers look for goods on the marketplace and make purchases.

How the Blockchain Impacts Marketplaces?

The blockchain offers a new networked business model, offering marketplaces new opportunities for user interactions, payments, and agreements.

Decentralized hosting

A blockchain-based marketplace is hosted by its users and supported by their computing power. This constant maintenance ensures that a marketplace is always accessible. Besides, rethinking how data hosting is organized can lead to more security, privacy, and transparency.

Another result of removing the centralized host is the ability to avoid hosting costs altogether and set the lowest possible prices for producers, sellers, and consumers.

Smart contracts

Smart contracts are the final piece of the puzzle in completely removing third parties and achieving a true peer-to-peer model. Smart contracts are claimed to be unbreakable and reliable, and allow parties to agree on literally anything.

What smart contracts contribute to marketplaces is a toolkit for building a new generation of platforms where retailers, sellers, and consumers can make trusted transactions.

Low fees, low prices

The cost of selling products with the blockchain model is drastically lower than the cost of selling on any major traditional marketplace. Since blockchain marketplaces offer lower fees to producers and sellers, that also means lower prices for consumers.

By using digital currency, producers and sellers don't need to trust anybody with taking payments on their behalf, as payments are transacted directly between the consumer and the producer or seller.

Secure environment

Blockchain marketplaces offer an immutable and time-stamped verification of every single transaction ever made. This approach makes transactions easily traceable and also prevents double charges, fraud, abuse, and any other type of manipulation.

Product transparency

Transparency is in the blockchain’s DNA. Blockchain marketplaces encourage transparency for transactions and agreements. In particular, such marketplaces inspire producers, and sellers to verify their businesses and prove the quality of their products and brands to increase trust.

Moreover, blockchain marketplaces offer producers and sellers digital IDs to verify their products and businesses. These unique digital IDs can be used to track products within the supply chain, know where products are, and ensure that claims aren’t duplicated or deleted.

Sessia is one example of a decentralized marketplace that aims to bring transparency to the online marketplace. It lets the users to perform trading (buying or selling) of various products or services by the exchange or transfer of crypto coins. All the exchanges performed in this platform are usually safe and secure in nature.

Sessia created to cure the broken systems of fraudulent trade in which intermediaries in the centralized system have extortionists on the traders. The main areas of focus by the team, therefore, are the retailers and the consumers. the digital .The team target inclusion of most goods and service to embrace the system with no intermediaries. It, therefore, allows for a cross-asset transfer of any form of value.

How Does Sessia Work?

Sessia is designed to serve both business and clients and for either of the parties to begin using the Sessia platform, they need to download the Sessia mobile app. The app is integrated with functional elements such as SessiaLoyalty, SessiaMarket, SessiaSMM, SessiaCRM, SessiaPay, and SessiaLogistics.

On the Sessia platform, businesses can launch their online stores, create loyalty programs, provide support to clients, as well as monitor their revenues and customer activity. Once a business or company has listed its products or services on the Sessia app, customers can purchase the products or order for a particular service.

After the transaction is completed and the customer has received their cashback, the receipt is automatically published on the Feed where the customer’s subscribers or friends can view it. This will motivate the customer’s friends or subscribers to make a similar purchase and receive cashback while enabling the customers to receive kickbacks from the purchases as an incentive.

The cashbacks and kickbacks are paid using Sessia’s utility token Kicks. The amount of kickbacks paid to the customer is determined by the seller and the number of friends or subscribers the customer has on Sessia. The kickbacks received by the customer can be spent on shopping anywhere around the world, withdrawn or even sent to other users. Additionally, users can convert their Kicks to other fiat or cryptocurrencies.

Sessia Conclusion

Sessia isn’t the first company exploring the use of blockchain in marketplace field. IBM, Walmart, and Alibaba are testing similar systems, and competing blockchain startups are trying to get to market before Sessia. The technology is being proposed in industries like the diamond industry, where valuable items can be tracked worldwide for enhanced transparency and security.

For more information click the link below:

Website: https://sessia.com/index.html
Whitepaper: https://sessia.com/stasic/doc/wp_eng-2018.compressed.pdf
Telegram: https://t.me/sessia_ico
Instagram: https://www.instagram.com/sessia.usa/
Twitter: https://twitter.com/sessia_clients

Author

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