I would like to take the opportunity to share my latest project and what my team and I have been working on for the past year. The name of the project is eMarketChain — a decentralized marketplace, where customers and business can buy and sell, without paying any commissions to middlemen.
Thanks to the breakthrough in blockchain technology we aim to change a 2,29 trillion industry, dominated by big names like Amazon, eBay, Aliexpress, Walmart. The fast growth of the e-commerce industry allows the middlemen take up to 15% commission on every closed deal. We want to change this and by bringing this value back to the end customer.
Let me give you an example:
Amazon has 14% commision. 1–3% are spend on bank taxes(depending on the bank you are using). The other 11–13% go into the pocket of the online stores like Amazon.
eMarketChain will remove these unfair taxes.
How will eMarketChain profit, if we remove the additional taxes?
Our income will be derived mostly from our two types of business models:
Freemium — we give the opportunity for merchants to get more out of our platform. With additional payments, they will be able to increase the visibility of the product(s) they have listed. This will be done by bumping their listings higher in the search results of customers. Having this increase in visibility will help merchants to gain more exposure, and thus, substantially increase the amount of sales they make;
Subscription-based — upon subscribing they shall receive the following benefits:
promotion of their goods with better quality pictures, compressed automatically by the eMarketChain platform, along with a broader suggestion engine for the items or services they offer.
- weekly suggestions on how to improve their advertisements, provided by our dedicated marketing specialists;
- similar to the freemium approach, the possibility to list their offers higher in the results shown to customers;
- The subscription fee per month is fixed and will be between 19$ — 49$ depending on the chosen package.
The models are completely optional and users will not lose any main functionality and options provided by eMarketChain.co, when using the system for free.
Another advantage over big names in the e-commerce world, apart from skipping bank taxes, is changing the business model that aims to reduce the commission to 0%. We will also try to do a better technical implementation by putting more effort in making it faster, more user-friendly while combining everything in a modern design.
One of our technical decisions is the platform to be Offline First.
What is Offline First?
Offline first is an approach to software development in which developers build an application’s core features to function with or without an Internet connection. With an offline first approach, data is written locally on the end user’s device and periodically uploaded and replicated in the cloud.
Imagine that you are trying to buy a product or just to check the price of it, while you are on the subway or in the mountains, or inside a building, or you are on a long trip or training in the gym (places, where the possibility to have a good Internet connection, is limited). Normally the effect is always the same: an error message, or even worse, an infinitely spinning progress indicator that never gets us anywhere. With offline first implementation, customers will be able to use the platform and to buy goods, even when you don’t have an Internet connection. The data will be stored locally on your device and will periodically try to upload and replicate the data in the cloud.
Let me bring you back to the EMAC tokens. My team and I are quite busy answering all incoming questions during our pre-sale period where at the moment of writing this article(26.04.2018–11 days after the start of the pre-sale) more than 98mln EMAC tokens have been sold or reserved. One of the questions that we face quite frequently is:
How will we increase the value of EMAC token?
If you haven’t read our article about the EMAC token economy, you can do it at: https://medium.com/@emarketchain/emac-token-economy-and-its-core-value-9fe67bc8284
Тhe article written by my team largely answers the question. But here is my answer as well:
Probably you have already noticed that our tokens are limited to 454mln. That means that at any moment there could be EMAC tokens in end-customers, merchants, exchanges or other roles that are business connected with EMAC, but also a great amount will be locked in smart contracts for a certain period, before being sent to the reseller/business. The duration depends on the account and rating of the reseller/business.
Higher adoption of eMarketChain.co means more purchases every day and more EMAC tokens locked in smart contracts. Having in mind that all EMACs will be generated once during our pre-sale and main-sale period. That can only mean that supply will be getting less, compared to demand because of the locked tokens. My opinion is that such difference in supply and demand can only raise the price of EMAC.
Let me present the written above with numbers based on my research:
Amazon has $1,9mln income in Q4 2018. That means $475,000 per month.
The average value of orders for the same period is $82:
Based on this numbers $475,000 / 82$ = 5792 orders per day.
If we manage to run the entire platform online, to start attracting merchants and users and offer them 15% discount on all goods placed on the platform. Then the EMAC token value will depend on how much tokens we have locked in the smart-contracts.The EMAC value will be higher because demand will grow higher than supply and people will need new EMAC to make a new purchase.
So if we are as successful as Amazon, we will have 5792 orders per day and every day $475,000 will be locked securely in smart-contracts.
To make this real, we would need first to prove that our project is worthy, to win people’s trust during the token sale and then finish our e-commerce platform.
Тhis article is not intended to encourage you to participate or invest in our token-sale.You can read more about our project at http://emarketchain.co