As the e-commerce ecosystem continues to develop, the traditional brick and mortar stores are beginning to experience a rapid decline in their customer base, which is due in large part to the simplicity offered by e-commerce platforms. However, the e-commerce sector which has made the purchase of goods a whole lot easier for consumers are also facing problems of their own. These e-commerce stores need to pay large fees to online marketing channels which might end up not having the desired effect on sales.
At the time of writing, social sales appears to be one of the most profitable industries, accounting for about $180 billion and this figure has been projected to increase by about 10% annually. Based on this fact, it is safe to say that social trading is well poised to be the trading pattern of the future. However, there is still a major drawback which still plagues this industry. The vast majority of all power belongs to a few select brands. These companies leverage on the principles of network marketing in which the superior employee based on hierarchy receives a whole lot more remuneration than the those actually performing most of the work. Finally, the employers do not permit their workers to engage in sales of good from other brands which often has an adverse effect on gross income.
I did not even know that there was any injustice being done until I came across Gemstra.
Gemstra is an ecosystem which leverages on the trustless and secure nature of blockchain technology in order to increase accessibility to social sales, enhance fair and transparent distribution of income among all participants along the trading chain, provide the opportunity for traders to strike agreements with numerous brands and provision of a wide range of products for the consumers.
Key Contributors within the Gemstra Ecosystem
The parties who would play a key role in the functioning of this platform include;
Merchants
The merchants within the Gemstra ecosystem act as middlemen between the brands and the distributors. They earn their income by charging vendors and brands for participation and for provision of information relevant to public demand for certain products.
Brands
They offer customers a specific brand of goods and they have the absolute right to determine the availability of goods. They can also directly involve themselves in the sale of goods, return and review. They also offer bonus programs to distributors.
Distributors
The distributors are concerned with the sale of goods of various brands to the final consumers.
Customers
These are the end users of products and they patronize a wide variety of brands.
Token details
The local token within the platform has a ticker “GEMS" and it is of DRC-20 standard. The token has a total supply of 2 billion with 800 million being put up for sale and 1 ETH equals 10,000 GEMS.
Conclusion
Gemstra definitely looks like a really promising project due to the fact that is concerned with a rapidly developing system. Not to mention the fact that it offers extreme freedom to distributors which enables them to work with several brands at the same time. Buyers also get to have access to products directly from a wide range of brands without the fear of buying counterfeit goods.
If you intend to learn more about the platform, you can visit any of the following links;
Official Website: https://gemstra.com/
Whitepaper: http://docsend.com/view/xvyqq7a
ANN Thread: https://bitcointalk.org/index.php?topic=4713980
Telegram: https://t.me/gemstra
Twitter: https://twitter.com/gemstraofficial
Facebook: https://www.facebook.com/gemstraofficial
Reddit: https://www.reddit.com/r/Gemstra
Bounty0x Username: tbossmitche
