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Blockchain based E-commerce - Printable Version

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Blockchain based E-commerce - Hugues - 2019-01-08

Spin Protocol
Decentralized E-Commerce system
Social media marketing is a hot commodity these days with the with an increasing number of suppliers choosing this channel to promote and/or sell their products. The size of this segment of the global e-commerce market is expected to balloon to $50 — $100 billion by 2020, according to the Korea Trade-Investment Promotion Agency. But there are a couple of problems with the current scheme of things — one, the middleman eats away the share of the suppliers & influencers. Secondly, a lot of social media influencers have fake followers & since they get paid based on the size of their following, it isn’t a very transparent process considering fake followers could be bought.

This is where the Decentralized e-commerce system of the SPIN protocol provides a transparent and fair solution by connecting the suppliers & influencers through a smart contract, providing real-time transactional data about influencers to suppliers and payment, logistics, and customer service to sellers and/or influencers. The SPIN ecosystem will function on the native SPIN token which will be used to conduct all transactions by Sellers, Customers & Influencers. The token will also be used for incentivization. The protocol will be implemented in two stages where the first stage would see the testing of the economic model on the existing mainnets like Ethereum or EOS. The second stage would involve the development of a separate blockchain capable of processing large-scale data processing & high-speed transactions as required by the platform. SPIN has aligned itself with an impressive line of partners before public launch in 2019, with the most notable being Womanstalk — first video commerce platform in South Korea with a user base of over 1.5 million & an annual revenue growth of 300%.

some interesting links:

You should also read the whitepaper.
The system is spectacluar.

They have an impressive list of partners an investors.
Also on the website.

RE: Blockchain based E-commerce - BobBobert - 2019-01-09

Hmmmm, very subjective. From chatting with friends etc I think that social media can be vastly overrated as a business tool. It does some good but maybe not as much as others think and certainly it is very hard to measure success.

Where I work we use social media as part of our marketing strategy, and we do ask customers where they first heard of us. Social media is rarely cited as the first mention of us. As to the measurement of it, even with specific adverts going out on social media only where we may get one or two bites only for the offer, there is no way to know if people subsequently use us based on social media campaigns, local advertising or word of mouth.

RE: Blockchain based E-commerce - Hugues - 2019-01-09

I like this project, but it is nothing for me.
I believe it could be very interesting for people who are into e-commerce.
At least if they succeed, it will be on honest system of doing commerce online.

RE: Blockchain based E-commerce - Carsten - 2019-01-10

Bob you can't trust the feedback about where people saw your site. They could easily have seen you first on social media but forgot about it.

RE: Blockchain based E-commerce - BobBobert - 2019-01-10

(2019-01-10, 07:14 AM)Carsten Wrote: Bob you can't trust the feedback about where people saw your site. They could easily have seen you first on social media but forgot about it.

Absolutely right.  I know when I am asked I tend to plump for the first answer rather than the right one!

But accurate measurement is vital for a business to know if it is marketing in the right place.  

In a post that came in this morning from Google, google tell us 

Of that only 21 visited our website and 40 called us.  How many were already clients and how many are new to us?
Now I have no way of knowing if this is correct and I assume this blockchain will tell me it is (or not!).
For us, we have a very high conversion rate so what is of interest to us is the 760 who found us but did not call or visit.  Why did they not go any further is the question we need to know.

Of those 804, how many knew about us already and where did they know about us from?

So there are a lot of questions that we would like answers to but can not get just now nor through this new blockchain.  

The strangest one was a google rival called  They directed people to call us even though they had a wrong number!  Google, Yell and other companies claim to give us the answers but only to the wrong questions (or at least questions we are not asking nor care about!).  

I am not sure that blockchain e-commerce is the thing for my company but it may well be for others.

RE: Blockchain based E-commerce - Carsten - 2019-01-10

You are right. Google only tell you half the story. I don't know much about the topic so I read and learn what you post about this.