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Investing - Apr 11, 2018

It is very easy to see that Blockscart will offer a potentially excellent alternative to the traditional system of E-commerce.

Whats the difference? Blockscart Solution vs. the Competition - Ecommerce Comparison - @blockscart

With the potential for fewer fees, added security/peace of mind, lower barrier to entry for sellers, and faster payments with no middleman… There are many potential upgrades that the Blockscart system looks to improve on, when concerning traditional E-commerce. But what makes Blockscart better than specific solutions that may be similar? Lets dive in!

Current competitors in the E-commerce space:

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Amazon does not really need much of an introduction or description. Amazon can be seen as a powerhouse and dominant force in the space of E-commerce in today’s world. It can be obvious that Amazon is a solid service. However, to sell items on Amazon, there are fees that can be significant in the end. For example, to be a professional seller on Amazon, selling more than 40 items per month, there would be a fee of $39.99 per month, in addition to other selling fees ( Amazon accepts several methods of payment, but does not at this time, accept cryptocurrency as a payment method.

Blockscart Advantage -

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Blockscart does not charge any fees for sellers and customers, other than transaction fees required by the blockchain network. This can be extensively helpful to lower the barrier of entry for sellers to open a business and become profitable on the Blockscart platform. There can also be the question of security for the customer. The Amazon platform does not accept cryptocurrency as a payment option at this time. This means that the customer must use a third party to make payments, such as credit cards, bank wires, etc. This can be concerning as it is necessary to provide private information on Amazon in order to make a payment. Blockscart utilizes cryptocurrency for means of payment on their platform.

Bitify is an E-commerce option which incorporates cryptocurrency. “Bitify is an Australian registered Bitcoin and Litecoin marketplace and auction site” ( Bitify is a place where buyers and sellers come together to sell to each other. Bitify allows the sale of any legal goods or services. Bitify does not charge any fees for sellers to list items. However, they do charge a 2.5% fee for items that are sold.

Blockscart Advantage -

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Blockscart does not charge any fees. The Blockscart marketplace will also have to option to pay/receive payment in Ethereum, with the addition of their own BLOC tokens, as well as several other ERC20 tokens. Bitify only allows payment in Bitcoin and Litecoin. The Blockscart marketplace will look to eventually only use BLOC tokens as payment method, but will aim to launch a decentralized exchange that will aid in trading for different tokens before or after sales, etc.

OpenBazaar is an online E-commerce option for person to person (P2P) buying and selling. OpenBazaar does not charge any listing fees, and does not charge fees upon the sale of an item. OpenBazaar allows payment in Bitcoin for products. OpenBazaar also has the option for the buying and selling parties to use a third party escrow to provide added security if necessary.

Blockscart Advantage -

Image From: (mohamed_hassan)

Blockscart uses Ethereum as a payment option. Including Ethereum, there will also be ten different ERC20 tokens that will be accepted in the Blockscart marketplace, although the end goal is to have the marketplace run solely based on the BLOC token. OpenBazaar also looks to be a fully decentralized platform, which would mean that they may have struggles with illegal products being sold on their platform, and lack of control/management of what is sold. Blockscart will look to be the best of both worlds in being decentralized to an extent, but at the same time, still have tight control to make sure only legal products can be sold. Blockscart will also look to develop an offline card similar to a debit card, that users will be able to load from the Blockscart platform, and then go use at locations where the card is accepted. Blockscart is looking to develop a whole ecosystem around their marketplace and token. This aspect of an entire, cryptocurrency based ecosystem, does not appear to be prevalent with the other listed competitors above.

Blockscart Specifics:

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There are also a few additional aspects of importance when reviewing the tech side of what powers the Blockscart platform. The Blockscart platform is web-based, but uses the Ethereum network for their payment system. The Ethereum network is often viewed as the current, proven go-to when considering a platform to build decentralized applications on. Ethereum has had countless DAPPs built on it its main net. Many cryptocurrencies available are called ERC20 tokens, which means they are built on the Etheruem network. The BLOC token is an ERC20 token, which may allow it to be an effective payment staple for the Blockscart platform.

Blockscart Server:

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Upon its initial launch startup, the Blockscart platform will be run on a dedicated server, or dedi server for short. This is a more centralized approach at first… However, once the Blockscart platform is up and running smoothly, they will look to switch to a more decentralized backend. The Blockscart platform aims to be launched on May 20th 2018, with June 5th 2018 being the latest launch date if things are pushed back. Blockscart will aim to switch to a more decentralized server approach in August 2018, switching to the InterPlanetary File System, or IFPS for short. IFPS is open-sourced and aids to a decentralized approach.

Centralized servers are often seen as the norm in today’s world. Websites or platforms generally have a front end that the user interacts with, and a backend that the developer and staff utilize. Said backend often runs on a centralized server. The potential problem with this is that a hacker would only need to hack one source/location/entity/etc. to access private information of potentially thousands of users. With a blockchain or decentralized solution, it is unendingly more difficult to hack, in that the hacker would need to, in theory, hack all the nodes/computers that run the network, which can often be thousands of nodes/computers/locations. (General knowledge from

Blockscart - Looking to be a revolution:

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Blockscart is looking to shake up the current system for the better. The potential advantages of Blockscart over traditional E-commerce options can be easy to see. But Blockscart looks to also have advantages over current Blockchain E-commerce solutions as well. Current blockchain E-commerce solutions may be appealing, but often still charge fees, and seem to have limitations. The Blockscart platform looks to be able to provide a solution to buyers and sellers, completely free of fees (other than the Ethereum gas required to send any Ethereum coins or ERC20 tokens in general). One may ask how Blockscart will achieve profit and remain a viable, thriving business, without charging any fees. Blockscart will make its profit through advertising revenue, which will allow users to use the platform in a fee-free manner. This will potentially remove the strain on customers as a source of profitability for the Blockscart platform. Blockscart aims to change the current system for the better.

*Article written based on my interpretation of the data.



Sources listed under images

*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.


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