PLAZA - Project Introduction
Technology in our present reality is continually evolving. Different concepts and developments are being invented day by day, changing the manner in which we see the world, from our every day interactions with other people and the world everywhere to the manner in which we fulfill our day by day needs.
E-commerce is a noteworthy piece of our lives, and the commercialization and dependency of people on the internet has created this multi-trillion dollars market. The e-commerce industry, however innovative as it might be, isn't without pressing challenges that need an equally innovative arrangement.
The blockchain is a front line technology that has revolutionized a great deal of world sectors and markets. And keeping in mind that its application and implementation are nowhere near its maximum capacity. Consistent and persistent developments are opening new entryways of possibilities for the blockchain technology.
Problem Statement
A couple of decentralized projects have attempted to revolutionize the e-commerce industry through the blockchain. And keeping in mind that it is still too soon to judge their achievements, some of those projects are already faced with new problems that come with utilizing blockchain and cryptocurrencies.
In between every new technology and the lifestyle of people, there is often an intersection that is generally occupied by complexity and perplexity. This often presents more problems than answers for the average person, in the time it will take him/her to get holds of the new development.
The blockchain and cryptocurrencies are posed with the challenges of complexity, abnormal state of trouble, and exceptionally technical applications to real-life problems. In other words, while the innovative blockchain technology can provide answers for different types of problems, these arrangements are for the most part theoretical and needs easy user appropriation.
On account of e-commerce, these problems won't continue for any longer.
In this article, I will be presenting the PLAZA decentralized stage, which expects to revolutionize the e-commerce industry utilizing the blockchain as an effective instrument, however unlike the other decentralized arrangements before it, Plaza's answers will get rid of the considerable number of complexities that come with blockchain arrangements and promote easy convenience and application.
This new innovative stage is called PLAZA.
PLAZA
Plaza is an ecosystem that involves an e-commerce marketplace empowered by the capabilities of the blockchain to ensure lower prices for customers, properly reward them for their unwaveringness, ensure complete information security, and improve user experience by embracing easy to use application interfaces and offer more flexibility on how their cryptocurrency can be used in their day by day lives.
It is safe to state that Plaza is a project that prioritizes the users and helps businesses reach their customers in a more effective, efficient and economical manner by removing the middlemen in the business, replacing them with blockchain powered shrewd contracts.
Source: Website
Plaza Project Vision
E-commerce is a major piece of our lives, either it is ordering groceries from a nearby grocery shop or purchasing other items from sellers overseas. Plaza's vision is to develop a "freedom lifestyle" item. Utilizing the blockchain as a base infrastructure for its exciting developments.
Existing Problems
The problems plaza is intending to solve can be divided into 2 categories;
The challenges and constraints of the e-commerce market
The challenges of cryptocurrencies to users
Constraints Of The E-commerce Market
High Costs: The role of significant e-commerce companies in expediting the products and ventures offer to the desired customers can't be overemphasized, however, these middlemen invest a considerable measure of money in the infrastructure and personnel for the successful running of their businesses.
They, thusly, charge the sellers high fees with the end goal to cover for their expenses and furthermore make huge benefits. These high fees are then pushed by the sellers unto the buyers by blowing up the prices of their items.
Moreover, users and businesses have to rely on outsider payment alternatives to successfully complete exchanges, and the users are constantly charged exchange fees. With the end goal to make a successful purchase of different merchandise or services, users/customers have to make high extra payments to cover for the excess expenses of successfully satisfying their orders.
Information Privacy and Security: e-commerce companies utilize vulnerabilities in the online presence of users with the end goal to gather information which is used for different purposes like targeting promotions and promotions based on a person's shopping patterns.
Other more sophisticated information brokers keep an eye on people's online activities and sell this personal information to anyone interested. This is a major infringement of security and ought to be placed in check.
Challenges of Cryptocurrencies To Users
Payment Difficulties: Both the conventional and cryptocurrency payment arrangements have their own challenges. For the conventional payments, it is the high fees charged on credit/debit card payments, and keeping in mind that cryptocurrencies offer cheaper payment answers for users, usually accompanied with difficulties of obtaining, putting away and executing in cryptocurrencies, especially for a newbie.
Real World Utilities: One of the real obstacles of cryptocurrencies is in its application to handy real-world uses. Most utility tokens have no use outside their assigned stages and for other day by day purposes like shopping. This lessens the appeal of the mass reception of cryptocurrencies by users worldwide as a great many people are satisfied with the convenience that their ordinary credit/debit cards provide.
Cryptocurrencies Are Seen As Assets: The potential for appreciation in values of cryptocurrencies means that many individuals getting into the crypto space are less concerned about the genuine utility of the tokens but instead in its potential to increase in value and make them richer in the nearer future.
The problem with this is a currency that can't hold its value will have very little real utility potential because both the sellers and buyers stand a danger of making losses on the future rise or fall of the token value, which will have an effect on their business or personal finances.
Plaza Solutions
Answer for High Costs: Plaza through its innovative stage will remove the middlemen and present sellers with a stage to properly engage their sellers directly, and furthermore payments are made in cryptocurrencies, the two of which cuts fundamentally the extra item or service costs and the high exchange fees.
Answer for Data Privacy and Security Issues: Plaza utilizes the blockchain technology which is famed for its namelessness and high security to encrypt and protect the personal information of users breaking "business as usual" of the existing e-commerce market.
Answer for Payment difficulties and Real World Utilities: The plaza stage through bits cryptocurrency payment arrangement, eliminates the staggering expense of exchange fees like there is with the conventional card payments. Extra, every user receives a plaza free wallet which is synchronized with the plaza debit card, conveying the convenience of card payments to the blockchain and cryptocurrencies.
Answer for The Asset Nature Of Cryptocurrencies: This is a problem that is normal to utility tokens, and hence, plaza will work on a double currency system, in which a limited supply utility token (PLAZA) will use for satisfying activities inside the ecosystem and a tethered exchange coin (PL$) will be used to purchase products and enterprises on the marketplace. This enables buyers and sellers to execute freely without the fears of a depreciating market value reducing the value of their payments for the products and ventures purchased or sold respectively.
For more data about the other problems and arrangements that this stage has been created to tackle, benevolently read the project Whitepaper.
Touchpoints of The Plaza Ecosystem
Plaza Mobile and Desktop Applications
Plaza Concierge
Plaza Card
Plaza Merchant
Source: Whitepaper
Source: Whitepaper
Plaza Team
The plaza project team comprise of 7 really experienced and professional members. The CEO and Chief Architect is Kevin Johnson who has previous experience in marketing. Plaza likewise has a team of 5 top counsels. The full details of the team members with the connections to their LinkedIn profiles are available in the connection provided in the official contacts section below.
Source: Website
Plaza ICO Details
The plaza utility token (PLAZA) will be on sale in the plaza open sale which ends on the eleventh of November. This is an ethereum blockchain ERC 20 token, which will be used as the driver of the plaza ecosystem. Every one of the tokens to be generated will depend on the sum raised in the token sale.
Ticker: PLAZA
Convention: ERC 20
ICO Price: 1 ETH = 5,000 PLAZA
Least Investment: 0.25 ETH
Hardcap: 100,000 ETH
Source: Website
VERDICT
Plaza is created by a team with foresight which has seen the struggles of cryptocurrencies in getting real lifestyle applications and the frailties of the e-commerce market. This plaza has been created a to offer an innovative answer for this problems through a seamless integration of the blockchain with proven customary measures.
In the plaza cards and its seamless integration with the plaza wallet, the plaza tokens will be substantially more easier to use as compared to other cryptocurrencies, and economical as well. With this, as I would like to think plaza has what it takes to be a real disruptive force in the cryptocurrency and e-commerce markets respectively.
In conclusion, as per the plaza website, the plaza blockchain is capable of achieving 15,000 exchanges per second which is more than any project curre
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