The global FMCG industry will be valued at about $8.5trillion by 2020, with an estimated growth rate of 6.6% yearly. The Asian market will be the highest contributor to this figure, it is estimated to contribute about $1.2rillion by 2020. This is a big market for the FMCG industry. FMCG which stand for Fast Moving Consumer Goods also known as CPG -Consumer packaged goods. They are products that sell faster at a relatively low price. They consist of durable and non-durable goods and example of such goods are beverages, canned foods, fruits, milk, appliances, and vegetables among others.
The Ekkbaz is a revolutionary protocol that wants to disrupt the $8.5trillion FMCG industry by creating a platform that enables business to business collaborate effectively. They want to do this through the use of blockchain technology, artificial intelligence, and social technology. The Ekkbaz is trying to solve the current challenges faced by current grocery store around the world.
The Challenges
Grocery stores are patronized by everyone from all corners of the earth, it is an avenue for a consumer to purchase edibles for the purpose of consumption within a short period of time. The grocery stores which serves a large audience have been in existence for decades and have been doing well. However, there are some challenges faces by store owners and manufacturers, and the challenges vary from the enormous charges of the middleman to the time consumed to purchase and deliver ordered goods. The other challenge is the excessive use of paper-based processes, the inefficiencies, and rigidity associated with the use of manual orders.
Additionally, since orders are made through middleman the manufacturer and the store owners lack a medium of communication and as such, it impedes in the business processes, thereby reducing sale and quality of services delivered by the parties involved, because of lack of feedback.
The Solution Ekkbaz Brings To The Table
Ekkbaz is a project that combines the innovation of blockchain technology to bring a lasting solution to the problem faced in the FMCG industry. The Ekkbaz platform is bringing to the multi-trillion dollar FMCG grocery industry a new way to collaborate efficiently.
some of the benefit Ekkbaz brings to the FMCG industry to solve current challenges include:
- cutting of middleman in the supply chain
- Save time to book an deliver products.
- Eliminate the excess paperwork and manual processes involved in the request-delivery cycle.
- Provide an effective communication channel between manufacturer and grocery store owners.
- Provide an avenue where orders can be tracked on a real-time basis.
The Ekkbaz is creating a decentralized business network between grocery store owners and manufacturers, and an easy to use mobile-application that enhances communication between business owners and manufacturers in an easy to use medium which is powered by EKK token. The EKK token is used for financial settlement between the parties.
Further Information
Website ICO: https://ekkbaz.com/
Whitepaper: https://ekkbaz.com/token-offer/whitepaper/en
ANN Bitcointalk: https://bitcointalk.org/index.php?topic=4447647.0
Telegram: https://t.me/ekkbaz
Twitter: https://twitter.com/EkkBazCom
Facebook: https://www.facebook.com/ekkbaz
Linkedin: https://www.linkedin.com/company/7603237/
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