A short comparison between the online shopping mechanisms of today and Buzar - an innovative project meant to change the way people buy and trade
Recent data shows that during the last years, we’ve been buying more and more online. Regardless of age, location or social status, the online marketplaces have tremendously grown in popularity. We all love to buy or trade things online because this mechanism has a lot of benefits (unlike traditional store shopping): it can be done at any hour of the day, in any week; it’s extremely easy to access and pay for the goods you choose (think of mobile platforms, payments through credit/debit card or Paypal etc); there is a high variety of products; buying from abroad is not a problem anymore.
However, the current system of marketplaces still have a few disadvantages that have not been addressed yet:
- It’s hard to obtain the buyers’ trust when you rise up as a new platform/online shop; there have been many frauds over time and in the end, customers had only to lose
- Consequently, the support offered by these marketplaces is really frail
- Not all reviews and ratings found online are actually true or accurate
- When selling something on a major platform, the fees can be extremely high (maybe even more than 10 percent); these costs affect the seller and the buyer, as well
- Sellers can have a really hard time respecting the strict administrative policy of such modern-day marketplaces; many businesses are often unable to fulfill these requirements because they start with limited human resources and cannot comply to this complex set of rules
To address these issues and improve the current state of today’s online marketplaces, BUZAR was created! This revolutionary project aims to develop a universal trading system, in which all people will be given the exchange values, buy products, or sell something. All these, without the need of using middlemen.
Through the adoption of Blockchain technology, BUZAR will permit the usage of smart contracts - probably the best way to keep track of all transactions and offer a transparent process, to all parties involved. Unlike today’s marketplace, BUZAR will enable individuals who join this platform acquire goods and services from different suppliers or companies (real estate ads, jobs ads, etc). Thus, the users will find all their needs fulfilled, in a single place.
● Smart contracts will completely remove any chance of fraud (at all steps of the transactions)
● A unique transaction guarantee service will be in place: sellers will receive the payment for a certain good they offered only after the order is finalized and the goods are transferred.
● If disputes should come up, BUZAR will operate as an arbitrator
● BUZAR will operate in three main directions, after its launch: client to client, business to client and business to business.
Moreover, BUZAR will have a second component that will operate as a social platform (video sharing, encrypted instant messaging, etc). To learn more about this project and understand the ecosystem it creates, feel free to visit https://buzcoin.io/ and browse through the latest version of the white paper. You are welcome to join Telegram group also.