News

Don’t be naive when it comes to our current e-commerce system. There are many inefficiencies that you should be aware of that are mainly driven by the prominence of middlemen intervention. These third party intermediaries favor profits over the needs of buyers and sellers. Spl.yt believes we have found a way to turn the tables.

With Spl.yt you don’t have to be a millionaire to contemplate owning a Lamborghini. By splitting the cost and care fairly between several owners, verified and regulated by smart contracts using the Spl.yt protocol, two or more drivers could share the privileges — along with the responsibilities, of course — of owning a luxury sports car like a Lamborghini.

It seems like the whole world is obsessed with “crypto” these days, but sometimes it feels like everyone forgot how cryptographic the entire system really is. In a system like Bitcoin or blockchains where coding and encryption play many roles

For those who are wondering… just what is an Oligopoly, and why should we care? An “Oligopoly” is a market structure in which a small number of firms/companies dominate the market which can lead to reduced competition and ultimately higher prices for consumers.

Decentralization is quickly becoming more than just a pipe-dream. It has crossed into the realm where technology meets social philosophy and integral psychology. It has become a word of great gravity, sounding world-changing echoes of equality through all governments, classes, sexes, and races of humanity.

Imagine a world where all online e-commerce is united with a single inventory base. From Amazon to Alibaba, eBay to Etsy, Jet to JD.com, what if the world’s most popular marketplaces shared the same items, making it easier for you to buy what you want at the best price? This is the vision of Spl.yt: a new e-commerce paradigm that is easier to use and secured by blockchain. Let’s take a look at how such a system would make life easier for buyers, sellers, and marketplaces alike.

The next evolution in online sales has finally arrived. Merchants great and small, from the occasional eBay seller or storefront dealer on Amazon, to large-scale vendors across dozens of international online markets, will all now have a swift, secure, and efficient way to connect to the blockchain and list items for sale through an innovative new smart contract-based protocol called Spl.yt.

Science Blockchain, the premier startup development firm investing in blockchain technology companies, announces it is backing Spl.yt, a smart-contract protocol that aims to bring efficiency, security, and transparency to a new, decentralized ecommerce ecosystem.

Online markets are constantly improving as platforms become easier to use and more convenient for both buyers and sellers. As we move towards a more digital centric day-to-day, the parties that facilitate e-commerce become gatekeepers to competition and center points prone to security concerns.

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.