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Total Token Supply - 39,000,000

*This is a fixed pool of tokens. The limited number should cause price to increase based on demand. More so than tokens that have several billion in supply.

Blockscart (BLOC) ICO - Watching the Paradigm 'Shift' in E-commerce - @blockscart

Changing the way we shop, through the blockchain.
Blockscart (BLOC) - “created to foster a global understanding of virtual currencies and integrate it with the e-commerce platform” (Blockscart Whitepaper)

PRE - ICO Basics:

Token Name - BLOC

Pre-ICO Price - 1 BLOC = $0.05 USD

Soft Cap - 3,000,000 BLOC

Hard Cap - 5,000,000 BLOC

(Pre-ICO has ended. Above Pre-ICO information listed for reference)

ICO Basics:

ICO Price - 1 BLOC = $0.10 USD

Soft Cap - 10,000,000 BLOC Tokens

Hard Cap - 20,000,000 BLOC Tokens

(ICO active until April 8, 2018, or until hard cap).

ERC20 Token (Built on Ethereum Platform)

BLOC Token Basics:

Total Token Supply - 39,000,000

*This is a fixed pool of tokens. The limited number should cause price to increase based on demand. More so than tokens that have several billion in supply.

“Any remainder BLOC from our ICO will be processed into airdrops and bounty” (Blockscart Whitepaper p. 8).

If the soft cap of 10,000,000 Bloc tokens is not hit during the ICO, Blockscart “will continue with the platform and then possibly run another ICO sale at a later stage to allow us to achieve full completion of our goals given in our roadmap” (Blockscart Whitepaper p. 8).

Image From: phuketgazette.net

What is E-commerce?

Blockscart uses blockchain to provide a better solution to the current E-commerce solutions available. But what exactly is E-commerce?

E-commerce is defined by Merriam-Webster.com as “activities that relate to the buying and selling of goods and services over the internet” (Merriam-Webster.com).

The internet has grown at a mind-blowing pace over the last 2-3 decades. This growth has come with limitless opportunities. The act of buying and selling items on the internet has become incredibly easy and commonplace. Companies such as Ebay, Amazon, and Groupon have made online shopping as easy as tying your shoes. This is incredibly convenient for anyone looking to buy or sell goods, on a commercial, or even personal level. This also has the benefit of being able to shop for products sold in other countries, without having to travel to said countries.

www.statista.com states that, “[i]n 2016, online sales of physical goods amounted to 360.3 billion US dollars and are projected to surpass 603.4 billion US dollars in 2021” (www.statista.com, 2017).

The area of E-commerce is booming, and the opportunities may be plentiful.

Image From: stcstc.com

Traditional E-Commerce:

There are inefficiencies however, with the current system of E-commerce. There can be a lot of fees within the current system. For example, say a customer named Steve, desired to by a brand name pair of shoes made by a company called ABC. Steve would go online to an E-commerce site that sold ABC brand shoes, and then buy them.

The difficulty with this system however, is that there can be a lot of fees that the E-commerce site can charge both ABC shoes, as well as Customer Steve. These fees can worked into the price of the shoes, or stated up front as direct fees of using the E-commerce platform.

This can also be seen in supposed person to person E-commerce site. Person to person, or P2P for short, would be where individuals can post their items on an online marketplace and then attract buyers, and then sell to them directly. The current options however, include “middlemen” so to speak. The E-commerce platform is the middleman, and can often charge fees from the buyer and the seller during the process. There is nothing wrong with these fees, as the E-commerce sites are trying to run a business. But blockchain may provide an alternative system.

Image From: medium.com

Security -

Perhaps an even greater problem within the current system to E-commerce, is the system of fear and lack of trust. For example, there can be many risks involved with buying and selling online. Customers must provide personal information on the E-commerce site, such as credit card information, banking information, etc. Reputable online E-commerce marketplaces may be more trustworthy, but overall, there may be more risk of stolen information, than if the system were based around cryptocurrency as payment. This is especially true if the customer is looking for a niche item that is not sold on mainstream/reputable/well-known E-commerce sites. It may be a risk to provide such personal information on a site where the customer does not know if said site is a scam or is legitimate.

Image From: myblockscart.com

Enter: Blockscart

This is where Blockscart comes in. Blockscart uses blockchain technology to create a decentralized marketplace. This is means that the above mentioned pain point of fear and security would have a solution. Blockscart would have products available for purchase with cryptocurrency.

This solves the one of the massive problems with the current system. When sending/receiving cryptocurrencies, the two parties involved essentially do not need to divulge any important or secret information, which has potential to provide much greater customer confidence. It also eliminates third parties such as banks and credit card companies, which means less middlemen in the process once again.

The marketplace will be decentralized and aim to be a truly person to person system, with no fees. This is a major bonus. If a person was looking to sell, say a book, on one of the current P2P marketplaces, they would likely have to pay fees to list the book for sale, as well as fees for the time allotted for the book to be available for sale. These fees make it more difficult to sell items at low cost, due to lost profit from fees. Direct selling from owner to customer on the Blockscart platform with a fee-less system will potentially bring a new level of competitive pricing for customers, as well as a smaller barrier to entry for emerging sellers.

The BLOC token will be integrated into the marketplace, with the ability to make payments with BLOC, as well as trade BLOC on cryptocurrency exchanges.

“The Blockscart Marketplace will be a payment system that will enable you to use the token and spend it independently alongside a system that grows in synergy with the token. Moreover, using the BLOC token on the Blockscart Marketplace will have additional benefits to stimulate its growth further” (Blockscart Whitepaper p. 6).

Blockchain could have the potential to change the current status quo, with improvements in many areas. Blockscart proposes a solution to an area that is highly relevant in today’s world, and could provide many opportunities for consumers and sellers alike.

*Article written based on my interpretation of the data.

Sources:

Blockscart Whitepaper

E-commerce. (n.d.). Retrieved March 27, 2018, from https://www.merriam-webster.com/dictionary/e-commerce

U.S. e-commerce market size 2015-2022. (n.d.). Retrieved March 27, 2018, from https://www.statista.com/statistics/272391/us-retail-e-commerce-sales-forecast/

Image sources listed under images above.

*This is a sponsored content post. All opinions expressed in this post are based on my personal view and should not be considered financial advice for anyone to buy or sell anything. Always conduct your own independent research before making decisions for your portfolio.

@bpirus1010-77769

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