E-commerce has simplyfied the way we go about our shopping, gone are the days when the only means of shopping involves physical presence in the store and cash payment. These days, we can comfortably shop from anyway in the world and pay for our purchases online. While e-commerce offer convenience and speed to online shoppers, there is a major problem steeming from means of payment. These e-commerce platforms rely on third parties to process their payment. These parties serve as payment gateway bewteen the e-commerce platform, customers and their banks. The problem is that these payment solution can be unreliable, takes time, and usually involve huge transaction fees. While cryptocurrency has eliminated the need for intermediaries in transaction process, the widespread adoption has been lagging and it’s adoption will simplify the current payment process.
Cryptocurrency Is The Solution We Seek
Since the advent of blockchain and cryptocurrency, transactions are now more secure, transparent, instant and borderless without intermediaries. As e-commerce industry continue to surge in growth, the cryptocurrency market is also witnessing its highest influx of people since inception. The problem is that there is abscence of synergy between the e-commerce industry and cryptocurrency. The abscence of a reliable international exchange that allows the exchange of crypto to fiat has made it impossible for e-commerce merchants to widely incorporate cryptocurrency as a means of payment. Crypto users are the worst affected since they find Cryptocurrency lacking in usefulness in their day to day activities except for speculative purposes.
A More Useful Cryptocurrency
Araw is a blockchain based ecosystem that intends to increase the global adoption of cryptocurrency in our everyday life, providing end-product solution to e-commerce, with cryptocurrency touch & Pay cards, online cryptocurrency payment and unified reward system on the Ethereum blockchain. The Araw token which is the currency of the Araw ecosystem will be used in physical stores as well as online stores to pay for good and services with the help of the Araw pay, mobile wallet and Araw card. The Araw pay is an open widget which will be available as a plug-in for e-commerce websites and it will accept payment s from customers in Araw tokens. The mobile wallet on the other hand will provide an easy means of payment to customer with the best user experience possible. The Araw Card which replicates the functions of a debit and credit card will be loaded with the user’s cryptocurrency. The Araw card will enable users to make micropayments in-store and pay for their online purchases. The Araw ecosystem has been designed to function as a cryptocurrency exchange, users will be able to exchange their Araw tokens for Bitcoin and Ethereum, there’s plans in the works to accept more cryptocurrencies in the future.
Conclusion
The Araw ecosystem has been designed with the sole purpose of tackling all the problems customers go through while using different e-commerce platforms. It will also enable e-commerce platforms to incorporate blockchain payment solution into their platform and allow customers to pay with crypto while they receive the equivalent amount in fiat. Leveraging blockchain technology, the Araw ecosystem will offer borderless payments in a transaction, secure, fast and reliable manner. This will end up increasing the adoption rate of the Araw token as people find it more useful in their daily lives.
For Further Information
Website: https://arawtoken.io/
Whitepaper: https://arawtoken.io/assets/araw_whitepaper.pdf?v1.8
ANN Thread: https://bitcointalk.org/index.php?topic=3497194.0
Telegram: https://t.me/ArawTokenOfficial
Twitter: https://twitter.com/arawtoken
Connect with me on Bitcointalk https://bitcointalk.org/index.php?action=profile;u=2171173