The term "E-commerce" is basically used to describe the process or better still act or activity of either purchasing or selling off products over the internet or online services. It can otherwise be called electronic commerce coupled with the fact that it draws on certain aspects of technology which includes; mobile commerce, internet marketing, electronic funds transfer etc. E-commerce or better still electronic commerce makes use of the world Wide Web for at least one aspect or part of it's transaction cycle. Using a more elaborate explanation, e-commerce involves making purchase over the internet with fiat based debit cards eg buying a book from Amazon or buying a pair of shoe from Aliexpress.
Due to the huge impact this industry has made in making life a little bit easy for the common man, there has however been an urgent need to accommodate other payment options into e-commerce and not only the fiat means of payment and the second option being considered is the use of cryptocurrency.
The first cryptocurrency to be ever developed on the blockchain technology system was the Bitcoin which was given the acronym "BTC". Bitcoin ever since it was released as far as 2009 has brought about a digital world revolution leading to its use in basic transactions as well as incorporating the blockchain technology system on which it was built into different fields of life like AI, health, car dealership, asset management etc for security purposes etc. The use of cryptocurrency as a means of payment on e-commerce developed platforms has been a constant consideration which has been subjected to high level of hindering factors majorly coming from third party applications that make huge profits from the traditional payment method of the e-commerce system but the CHIMPION platform is set to therefore use blockchain technology system to modernise every aspect of e-commerce system and therefore making use of cryptocurrency as payment method a n option.
CHIMPION PLATFORM:
The CHIMPION platform derives it's name from a basic term which in all cases is said to posses an excellent attribute and the term is " Champion ". The chimpion platform has already developed and kick started it's blockchain based e-commerce system and this makes it stand out as a champion unlike other platforms that first seek for fundings inorder to help them kick start their project and this therefore clarifies the adoption of the term "champion" by the platform because a in literal attributive term the word champion means to be excellent in all sense. In some cases the term champion is said to be pronounced in various widely spoken languages thus making chimpion a highly relevant name ascribed to numerous cultures.
The Chimpion platform is a platform that basically provides merchants with a very simple but yet more sophisticated cryptocurrency based payment system with a custom e-commerce as well as settlement backened. Chimpion through it's innovative technology will enable merchants to launch an e-commerce storefront which will accept the cryptocurrency as its major means of payment with options also where users can easily set the coin which they prefer to use for the payment and also will in return provide a seamless connection to the digital world of commerce through an inbuilt incentive programme as well as a dedicated wallet. The chimp or chimpanzee on the other hand is a specie of monkey due to the excellent attributes it has shown majorly in the area of exploration which also goes according to the chimpion platform's vision of exploring into new ventures of creating and running a platform whose major means of payment will be the cryptocurrency and thus the "chimp" was chosen to be the mascot that will portray or better still give a graphical or image representation of the platform. With the chimpion platform, merchants can easily upload products and also have listings that will be displayed with also their base currency denomination to be the cryptocurrency without need for any additional plugins and with a more advanced API running on the platform, the cryptocurrency prices of the listed products will be updated in real time exchange rates.
FEATURES OF THE CHIMPION PLATFORM
- DUAL TOKEN DYNAMICS: The platform will run on the basis of two or dual token models which are ;
A. Chimpion (CHIMP): this will power the e-commerce storefront of merchants and it is the bounty incentive to be help bring merchants onboard the platform in an effort to drive or trigger the adoption of the platform. And it will also act as the cryptocurrency base denomination in the chimpion store that will feature exclusive apparel products alongside gift cards from major retailers as well as merchants from the chimpion directory.
B. Banana Token (BNANA); this will act as a reward layer of the chimpion ecosystem and this token will only be earned by acquiring or purchasing it from the chimpion merchants making use of the CHIMP token or any other cryptocurrency acceptable by the platform. - BLOCKCHAIN ASPECT: the chimpion platform will be powered by a unique dpos (delegated proof-of-stake) model consensus and this will enable any merchant storefront powered by the chimpion to become a masternode on the chimp blockchain. Initially, the blockchain will operate in form of EOS smart contract will will later migrate to its own chain when the mainnet is developed and launched.
- NETWORK: the network to be used by the platform will be the 256 bit SSL and this is to enhance encryption and advanced security measures to ensure that privacy as well as users data are well protected.
TOKEN ECONOMICS
The banana token (BNANA TOKEN) will be the major utility token of the chimpion platform and it's total supply is 100,000,000,000.
TO KNOW MORE ABOUT THE CHIMPION PLATFORM
Join the Telegram Group: https://t.me/chimpionofficial/
Follow on Twitter: https://twitter.com/chimpionio
Follow on Facebook: https://www.facebook.com/Chimpionio/
YouTube channel: https://www.youtube.com/channel/UCOB0ZVAz7ebEx74j_TdXk4g
Website: https://www.chimpion.io/
Whitepaper: https://www.chimpion.io/whitepaper/
Writer's Bounty0x Username: Zubbykay94
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