ARAW is aiming to create a decentralized payment option, incentivizing more individuals to enter into the world of cryptocurrency. They have created a fully functional MVP using virtual tokens to let users buy and sell goods.
In this article we will describe various potential use cases of the ARAW platform.
One of the things that ARAW will be doing is creating their own ecommerce marketplace similar to the Amazon that we are all so familiar with. Users will be able to buy and sell goods on the marketplace using ARAW tokens. Similar to Amazon individuals will be able to create seller accounts and can even create virtual stores on the ARAW platform. Existing decentralized marketplaces like OpenBazaar allow users to buy and sell goods but are reliant on an independent cryptocurrency (in this case BItcoin) for all of their payments. ARAW will be able to create the marketplace and process payments all using their ERC-20 token.
Additionally, ARAW hopes to enter the day to day lives of individuals, giving them an easy way to spend their crypto assets at all of their favorite retailers. Initially they will launch a cell phone app that merchants can use to accept ARAW token; however, they aim of eventually let users pend ARAW just as they would cash by creating an ARAW debit card. Users will be able to spend their ARAW balances and merchants will receive fiat currency. This solves on of the major issues faced by cryptocurrency users today : finding merchants that accept Bitcoin (and other cryptos).
There are many projects working to create similar products to the ARAW platform; however, ARAW is one of few that already have a functional MVP and an established user base. Launched in 2016, they went live with their MVP and have been gathering valuable data and users for over a year now. When they go live with their Blockchain platform they should have no trouble migrating existing users on to their new platform.
Conclusion
The ARAW platform is one of many projects working on bringing decentralized payments options to individuals using blockchain technology. Running on the Ethereum blockchain they are hoping to “bring cryptocurrency to the masses” by convincing users to use blockchain solutions for their ecommerce needs instead of a traditional debit or credit card option. With an ambitious roadmap, a fully functioning MVP and an established user base, they are surely an interesting project to watch.
