It is a standard undeniable fact that one in all the quickest growing business on the net is that of the e-commerce trade. Although the mode of operation of several large e-commerce firms is absolutely centralized and with many different problems that the trade is facing, it continues to thrive and touching new milestone yearly. The worlds e-commerce market is large and therefore the market was able to record with success up to a pair of two trillion bucks in sales for a pair of 2017 with a projection going on top of four trillion by 2020.
As the market continues to fancy this hyper growth and produce the act of shopping for and marketing nearer to everybody, the chance of victimization of the innovative blockchain technology and build a Crypto-based payment system can build the market to be additional economical, localized and build a sense of happiness among all stakeholders of the trade. Blockchain technology or distributed ledger technology (DLT) isn't new once more, it's been with North American nation for quite a long time and also the 1st public blockchain protocol that is the Bitcoin Blockchain network which is widely known, its 10 years of existence in 2018.
This means that it's not new once more and that we have already got thousands of startups that are attempting to use this innovative technology to disrupt nearly all industries better-known to humans civilization. Blockchain technology could be technology on the far side speculative nature of Cryptocurrency and it even has what it takes to form e-commerce market additional higher and economical.
The possibility of making a Crypto-based payment system for e-commerce system reveals 2 major problems that have been unmarked by several within the current e-commerce market. These problems square measure high transactions fees and knowledge abuse of consumers simply because of loyalty rewards.
The advent of blockchain technology exposes 3 main issues with standard e-commerce firms which incorporates avertible high fees, middlemen and abuse of user knowledge.
Presently the e-commerce corporations that are victimized centralized business models spent plenty in ensuring their system works absolutely well and that they conjointly and absolutely rely on third-party trust executors and payment solutions, and people that pay for these excesses are the innocent users within the end chain.
The challenges mentioned rectifier to the creation of a Crypto-based e-commerce scheme known as Chimpion. Chimpion aims to supply an easy nevertheless refined Cryptocurrency payment system with a custom e-commerce scheme and settlement backend. Chimpion will ensure it doable for merchants to make intuitive storefronts with an intrinsical crypto payment system and freedom of selecting that coin to simply accept or not. This implies that Chimpion scheme is constructed with multi-crypto in-view and this build it to be extremely versatile. The scheme conjointly encompasses an intrinsical loyalty rewards system and dedicated notecase. The platform bridges the gap between Cryptocurrency and digital e-commerce
Merchants are going to be able to transfer their product and therefore the listing can show in Cryptocurrency because the base currency denomination with none further infix and there'll forever be real time updates of Cryptocurrency worth through their API. The Chimpion platform was engineered and well tested technology that Shopping-cart Elite, Paytomat, Gemini and conjointly others employed in building their platform.
For few years currently in Cryptocurrency business, we've seen the launch of the many comes that used ICO crowdfunding methodology to raised cash for his or her startups however the unhappy reality is that over 100% of those new startups were ready to run the business and works per their Roadmaps, several of them ar unsuccessful comes already and a few exit scam leaving investors heartbroken, Chimpion is champion in this, the platform was absolutely developed while not cashing in of the ICO craze and that they have already got several merchants within the U.S.A. utilising their solutions. This is a decent development and that I suppose it'll be cool if several alternative Cryptocurrency comes to apply this approach while not having to go through ICO method.
BCD Pay wallet is part of Chimpion ecosystem: a system that allows merchants to simply accept cryptocurrency in brick and mortar businesses, and on-line stores.
Chimpion Token
Chimpion platform is fuelled by a dual token and with every one of them having its own use cases. The primary token is Chimpion and this would be the token that powers the merchants' storefronts and conjointly the bottom currency of the platform. The second token is that the Banana token that is the loyalty rewards token of the system. Consumers are going to be more than able to earn it by shopping from Chimpion merchants with chimp token or the other Cryptocurrency.
Chimpion Platform
Chimpion platform is a Crypto-based e-commerce platform that any online merchants will use to sell their product globally by simply holding chimp token. You do not have to be compelled to create any payment or monthly subscription, all you only have to be compelled to access the platform is to carry the token. It's developed by Shopping cart Elite and it combines the options of well-liked e-commerce websites like Shopify & WooCommerce with the conveniency of payment processor like Stripe. The platform doesn't necessarily need any extra plug-ins and it may be increased with future Dapps.
The platform is additionally a payment process system and checkout methodology that's like Stripe. It doesn't need KYC like Coinbase and BitPay which suggests it'll be less difficult to access and merchants also will be able to retain their funds in Cryptocurrency or sell to stable coin. The platform supports several stable coins which have USDT, TUSD, USDC, GUSD (NYDFS-approved), and PAX (NYDFS-approved).
Chimpion Core
Chimpion Core is an in-house developed proprietary system of Chimpion scheme. it's been presently migrating to EOS blockchain which includes Paytomat Core within the variety of an Eos smart contract and services that is solely responsible for merchant accounts and balances, merchant interfaces (Merchant net Panel, merchandiser App, POS integrations, and e-commerce plugins), and client apps (non-custodial cryptocurrency wallets)
Below are the links needed if you would like to read more about the project
https://www.chimpion.io/
https://www.chimpion.io/whitepaper/
https://www.facebook.com/Chimpionio
https://twitter.com/chimpionio
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Very well written post by the way! Great content and effort like this should be made more often... Hopefully your more active soon!