Introduction
Over the past 2 decades, the internet has greatly affected the exchange market. The presence of online markets has removed barriers such as distance and location and has introduced an unparalleled convenient and easy shopping experience. Despite the advantages consumers enjoy from this new trend, online shopping has created two issues: dishonest sellers or scammers and customers receiving damaged or poor quality products during delivery. To resolve these two challenges, a different selling model was developed in the e-commerce industry which was the centralised business model, where a Corporation such as Amazon stands as a middleman between two parties during transactions, and help in handling payments and settling dispute if the need arises. But along the way, data transparency became a concern that sellers and buyers have with these Giant Corporations.
The Apollox team strongly hold on to the belief that blockchain-based technology and decentralized exchanges are the key to the future of marketplace and online shops. With the use of blockchain technology, we can build a large scalable marketplace system which is fully transparent and has beneficial element for both vendors and consumers. This new marketplace system will harvest scale advantages, be cost-effective to each participant and possesses the functions of a centralized company but operates in a decentralized manner.
[h1>THE INTERNATIONAL E-COMMERCE MARKET
Local online sales are growing rapidly in almost every country, but cross-border e-commerce will have the most explosive boom and it is said that the Asia Pacific region will be at the forefront. Consumers are searching for better offers, terms and product availability beyond their local sellers. More efficient localization, improved logistics and more payment options are attracting consumers all over the world to purchase products from foreign countries.
A lot of challenges confront sellers who want to sell their products globally, especially small and medium sized sellers. Customers usually have trust issue when dealing with foreign merchants. New customers often go online to research the seller and check other customers’ reviews. Language barriers, currency exchange and localized marketing are also major concerns for the foreign seller.
DECENTRALIZATION SYSTEM AS SOLUTION
The traditional internet is limited in areas like; real time, value transmission and irrevocable contracts, which makes middle-men an unavoidable piece of the transition. The profit-seeking nature of intermediary companies makes achieving profits the primary goal instead of providing a truly efficient and fair-trading environment. With the help of blockchain technology, a true decentralization of e-commerce marketplace can be achieved.
A decentralized e-commerce ecosystem will for the first time provide mutual protection to both parties during a transaction without a centralized company. This means that, the trust issue would be resolved on both the consumers and sellers part through the execution of the ApolloX Protocols.
THE APOLLOX PROTOCOL
The Apollox Protocol was based on a decentralized e-commerce ecosystem, all transactions of money and sensitive information such as personal data will be managed by a smart contract system. ApolloX Protocol is a multifunctional system having all the essential e-commerce transactions components. The attribution protocol would be used to solve one of the most critical problems in the e-commerce world, which is traffic during transactions.
APOLLOX TOKEN
Through tokenization, an e-commerce community can connect people with shared interests and aligned economic benefits, resulting in a community with high user viscosity. Hence the introduction of the Apollox token, which is going to be used to manage the domestically for different functions in the Apollox ecosystem.
PROJECT TEAM
The Apollox team are highly qualified professionals with degrees in their area of specialization from top universities around the world. They are committed to bringing their best to achieve the goal of the Apollox protocol.
CONCLUSION
ApolloX would be the very first blockchain solution for online e-commerce with a large number of existing participants and mainstream adoption. It has the potential to disrupt the existing online marketplace landscape and become the number one option of online channels to sellers globally, especially new sellers willing to sell their products overseas. Marketplaces and shops available currently can join the Apollox platform to get all its benefits and introduce their products to customers globally.
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