Gemstra is the blockchain project which is removing all the constraints of social selling and making social selling more accessible to retailers and sellers.
Social selling is a process of sellers are getting rewarded for promoting brands via their social network.
Here, Gemstra is a blockchain incorporated biological community. It will free and democratizes social offering for the worldwide retail economy.
How Gemstra will work?
Gemstra provides wallet to every merchant, seller and brand. Therefore, the transaction can occur immediately via wallet to wallet. Also brand will decide the custom commission for the merchant. Sellers have freedom to select the merchants based on the brand they are partnered with.
Mission of Gemstra
Gemstra’s mission is to make social selling accessible and awesome for everyone. Social selling, traditionally called as “ direct selling” , utilizes multi – level selling models that rewards people for influencing sales through promoting brands to their social network. Social selling is a large and growing industry, yet it is extremely captive and mostly unavailable to the broader retail market.
Barriers to Gemstra
Even though Gemstra is more useful blockchain project, it has several issues like entry barriers and so on. Some of them are as follows. The industry is walled off by few companies that have too much power. The social selling process is dominated by few major players and these players are making it difficult for new merchants to join thus creating the entry barrier. Sellers are also do not get the deserved profit for their hard work from such merchants. Sellers also face problems while changing the merchants or brands as the community formed by such sellers is lost once they switch to other brand.
Next problem is inefficient market cornered by Monoliths. Barriers to entry are high, limiting new merchants from entering the space. Expensive and fragmented systems are required to manage commissions, rewards, accounting, customer service, back office operations are limiting the number of new merchants. The lack of market entrants further reduces sellers options and opportunities, allowing incumbent monoliths to corner the growing industry. Merchants in social selling can often get away with overpricing products, yielding an inefficient market for sellers. Sellers are not able to complete with the brands in the broader retail economy.
Solutions for above barriers
Therefore, the solution for this is, establishment of “BOUTIQUES”. It provided solution to the sellers to select the brands and products of their preference. Around 3000 sellers and 8 brands are adopted to this platform. Hence it provides an insight to further develop the solution provided by BOUTIQUES and thus develop GEMSTRA . It is based on blockchain technology enables the seller to keep the information of customers and network data and brands and merchants can interact with each other. Thereby, this platform allows the brands to integrate their catalogue with multiple merchants over the platform.
Team:
- Jay Cheng – CEO
- Kevin Gambil – COO
- Joseph Lau - Chief Revenue
- Janelle Mitchell- Chief Finance
- David Odere- Chief Technology
- Rodrigo Lalama-Engineer
Advisors
- James Kuo - President Epox International
- Ivan Ramirez - Serial Entrepreneur
- Connie Tang - President & CEO Princess House
- Paul Sri - Blockchain Advisor
- Steve Raack - Ex C.O.O. Of BeautyCounter
- Ted Hong - Chief Marketing Officer
- William Hsu - Co-Founder, Mucker Capital
- Tudor Stomff - BountyHive CEO
For more information,
please visit:
Website: https://gemstra.com/
Whitepaper: https://docsend.com/view/xvyqq7a
Telegram: https://t.me/gemstra
Twitter: https://twitter.com/gemstraofficial
Medium: https://medium.com/gemstra
Author’s details:
Bountyhive username: Channa
Bountyhive referral link: bountyhive.io/r/Channa