The cryptographic market is one of the most successful out there and cryptographic currencies are attestations to this fact. At the core of the conceptualization was to create a channel where current finance model would be questioned.
ApolloX is no doubt that platform many were on the lookout for. Since cryptographic currencies and the blockchain had been applied to other areas, ApolloX opted for a yet-to-be harnessed scope – e-commerce. Before going into the project in detail, let’s look at existing issues.
Problems
The internet had done well for the industry and the blockchain is set to take over with ApolloX leading. The problem was basically because of overt control exerted by platforms. Top players such as Amazon and eBay are reputed for quality products but concise analysis of their functionality reveals that they literally rob merchants.
These merchants are charged high fees for their listed products and this in turn culminates in inflated prices of products. Since most users place orders based on ratings and recommendations of these e-commerce platforms, most merchants bribe their way into making the tops.
While users are battling with risk of losing their personal information, merchants are at their lowest ebb given stiff competition they’re faced with. This is just as e-commerce platforms are solely interested in making profits instead of providing much-needed service. These are just tip of the iceberg and part of the issues ApolloX wants to solve.
How will ApolloX start off?
With these downsides and others not mentioned, ApolloX obviously has rough road to ply. First, the platform brings the blockchain with the distributed ledger in wrestling power from centralized e-commerce platforms. The stage is then set for it to apply necessary steps towards solving current pain points.
Building another E-commerce
ApolloX cannot function with existing e-commerce platforms and therefore opted to build another on the chain network. The marketplace will be vast and is expected to incorporate relevant stakeholders in the e-commerce industry. Consumers needn’t harbor fear of having low-quality products delivered because the system will feature certified merchants. As touted by the platform, full-scale decentralization is better variant towards unleashing the great sides of the industry.
ApolloX Protocol
The set of protocols released by the platform is expected to coordinate transactions in decentralized e-commerce. First, there is the payment protocol that would pattern transactions on peer basis. Thus, intermediaries are out of the game and sellers and buyers are the core users.
By virtue of the attribution protocol patterned after referral programs, consumers are rewarded with incentives when they recommend specific stores to their friends. It is a win situation for both parties because shops on the ApolloX marketplace would spend less on adverts with rewards awaiting consumers.
The arbitration protocol will oversee dispute settlement when the need arises. In the case of successful dispute settlement, a party that wins the dispute alongside his mediators will be issued some part of tokens retrieved from the loser. The reputation allows consumers place honest reviews on products they might have consumed. This is far better than lobbying exhibited on centralized platforms.
Through the oracle and data protocol, ApolloX obtains information that would help it attain greater heights. As part of its lined-up programs towards user empowerment, there is the community built protocol that allows users create useful protocols.
Conclusively, asides bringing the blockchain to yet another use case, ApolloX from its features, has something better to offer. It is expected that its marketplace will boast of better variations to centralized counterparts. Over 200 physical stores have indicated interest to partner with the platform and at the moment, over 1 million users are logged on the platform. In the future, ApolloX will be standards for decentralized e-commerce
Token Sales Information
Ticker: APXT
Platform: Ethereum
Token Supply: 10 billion
Soft Cap: $6 million USD
Hard Cap: $14 million USD
Exchange Rate: 1 APXT= $0.0055 USD
Accepted: Fiat, ETH
Registration Country: Singapore
Restricted Areas: China, USA
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