E-commerce is a trillion dollar industry where over 40% of the market share is controlled by a single entity. While this establishes trust and convienience for consumers, it also makes it difficult for small-to-medium online businesses to compete long term.
“How many e-commerce companies are there? What’s the global e-commerce market size?”hackernoon.com
Intermediaries like Ebay, Etsy, Amazon, and other large retailers facilitate the process of buying and selling online, but in a centralized manner. This can pose security concerns (http://www.information-age.com/seven-types-e-commerce-fraud-explained-123461276/) but it also pushes smaller businesses out of the market. Successful sellers are sometimes copied by the platforms that they use and forced out.
Spl.yt is leveraging Blockchain technology to allow for the sharing economy to benefit from splitting up the duties of these 3rd parties. An intro to blockchain here: https://www.youtube.com/watch?v=WiRFuHXHBhk
Spl.yt allows for cheaper listing fees in a B2B/P2P economy, where sellers benefit from a global Blockchain ledger to improve asset liquidity. Decentralizing the intermediaries opens up opportunities for market participants to earn from identifying fraud, validating products, and even incentivizing more indepth reviews — benefiting all.
Over the next few weeks, we will be sharing niche problems our open-source protocols will fix, as well as partners that will be helping us work towards are launch.
You can find our white paper and alpha here: https://spl.yt/
Stay tuned! #blockchain