Vanig ICO Review - Next generation e-commerce platform, bring more ... | Ecency

New developments and curiosities from a changing global media landscape: People, Spaces, Deliberation brings trends and events to your attention that illustrate that tomorrow's media environment will look very different from today's and will have little resemblance to yesterday's.

E-commerce is a technology ‘megatrend’ that is expected to become more popular in the future. As it achieves higher penetration rates in developing countries, it will overcome obstacles to adoption like the need for high-speed data networks that are fast enough for smartphones and inventory and shipping costs. E-commerce is a global activity amounting to trillions of dollars’ worth of trade. Middle class spending will triple by 2030; E-commerce could top $4800 billion by 2021; more than 1.6 billion people purchased a product or service online in 2017.

While the market is growing, its main problems are beginning to emerge. Blockchain will allow for decentralized marketplaces to emerge that, with the lack of a centralized team and the inherent costs, will provide lower prices for consumers and better rules for retailers.

Project Vanig has begun preparation for their blockchain-powered marketplace and platform. The platform aims to solve all the issues described above and many, many others.

What is Vanig ?

Vanig is an e-commerce startup powered by the blockchain. Vanig aim is to create a platform that changes the way e-commerce works. From manufacturer to consumers, Vanig can apply the power of the blockchain to make shopping an amazing experience for everyone involved.

What are the problems Vanig solved ?

Vanig utilizes a proven blockchain technology that has been developed by the world’s largest blockchain technology consortium, Hyperledger. Not only does the blockchain drive the transaction, but also records it. Vanig can easily scale to seamlessly integrate with major players such as Amazon. Vanig will be able to target a lot of issues at the same time, such as:

Vanig Features

- Competitive pricing: As a blockchain-powered ecosystem, Vanig doesn’t have the notion of an intermediary. That allows producers to cutdown costs on brokering fees, and the end consumer gets a better deal.

- Security: Vanig use blockchain technology to get benefits of cryptographic hashes and secure transactions amongst participants in the supply chain. That makes Vanig a secure platform.

- Transparency: Consumers are able to track products with ease and information about defects are stored permanently in the blockchain, resulting in fraud detection and tamper proof transactions. Information transparency gives greater confidence to consumers, sellers, and wholesalers which increases the trust across the ecosystem.

- Real-time tracking: Manufacturers, wholesalers, retails and consumers can track the product in real time.

- Authentic Reviews: Vanig's AI & ML algorithms detect fake reviews based on content of review, history of orders, past reviews and many other factors to build a credibility score for the reviewer and reviews they publish. This ensures buyer confidence on platform.

- Shorter recall process: When a recall needs to be initiated the whole experience is sleeker, faster, and cheaper. A blockchain solution makes it possible to eliminate some of these unnecessary steps during a recall.

- Demand / Supply equilibrium: As consumers have full visibility on product availability and procurement; it provides a safety mechanism for the marketplace to avoid artificial price adjustments - no more overstock or empty shelves.

- Easy Product Listings: This is an important step for a quick onboarding process of products from other marketplaces and gives consumers access to millions of products.

- Provenance: Vanig enables full origin and trace information providing unique-in-class provenance information. As our provenance trace makes use of Internet of Things (IoT) sensors, interested parties can inspect any modifications or changes thatcould have taken place during its journey to a consumer

- Real time transactions: The Vanig ecosystem users make use of the native Vanig cryptocurrency, VANIG tokens to make real time money transactions and money transfers. Clearing funds on the Vanig ecosystem is instant with real time transparency.