Galaxy eSolutions ICO Review - Global Marketplace for Refurbished Smartphones and Other Consumer Electronics

 The world we live in today makes use of gargantuan amounts of technology. We rely more and more on technology to facilitate the way we work, play, and interact. The most obviously apparent downside to all this is the massive amounts of mining waste and landfills that mar our environment. Galaxy eSolutions is at the forefront of turning back this tide.

They are a globally present e-commerce ecosystem that has already positioned itself as a market leader in the multi-billion dollar pre-owned and refurbished electronics industry, worth billions of dollars. They managed a 20 million dollar sales volume within their first year of operation, and consider blockchain technology to be the next step in their evolution into a hybrid ecosystem with its own operational platform.

What Are They Proposing?

In essence, what the company aims to provide is a truly efficient sharing economy. This is a system of collaborative consumption that seeks to eliminate electronic waste by unlocking the value of under-utilized and unused assets. They wish to do away with the ‘make, take, and discard’ cycle of consumption that has proven to be so wasteful and replace it with a regenerative and restorative model. The philosophy here is to make the most of everything we have.Consumers will play a double role of being both providers and consumers of resources in the ecosystem, for which they will be rewarded.The driving forces behind their optimism for such a system include; social media advancements and information technology proliferation; urbanization and demographic shifts; as well as the ever-increasing volatility of the costs related to natural resources. Simply put, they consider this to be an idea the world is ready to more fully embrace.

Challenges they Face

Galaxy eSolutions have had a history of success within the industry, but the possibilities of blockchain technology have made expansion a real feasible proposition. Here’s how they aim to overcome the challenges in their path.

Lack of trust in the industry

Traditional phone trading platforms would only list phone models, making it difficult to know exactly what type of phone you were buying and whether it would be functional, or even legal, in your location.The solution here will be the addition of each phone’s IMEI (International Mobile Equipment Identity) number to the smart contract with the payment amount held in escrow. The unique IMEI number is easily verifiable in a number of ways, meaning the client will be sure of exactly what they’re getting.

High fraud potential

Phones, owing to their relatively high prices and resell values, have always been a favorite with stammers, thieves, and fraudsters.The proposed solution will again be the inclusion of IMEI numbers. These are able to indicate the legal status of a phone. Stolen phones will be flagged, and a potential scammer is unlikely to have the IMEI number to a phone that isn’t in their possession.

High cross-border transaction costs

International payments for goods and services have traditionally been a major hindrance to free trade, especially for relatively small-scale transactions. Some would take perhaps a whole week to process through intermediary banks in addition to the high fees associated with the transactions.Transacting in cryptocurrencies will drastically reduce the cost related to cross-border transactions. Using the GES tokens, consumers will be able to circumvent the time and expense of other more traditional payment methods, which is of great importance in such a low-margin industry.

Difficult product tracking logistics

Once a deal is done, it would follow that the goods have to move from one place to the buyer possibilitiesfor wrong delivery, sub-standard goods being delivered, or even lost packages, requiring the hunting down of wayward packages and tracking numbers were a reality everyone had to contend withThe blockchain will be supplied with such pertinent information as to when the refurbishment date, refurbisher, warranty status, courier used, dispatch date, tracking number, and anything else thought to be relevant. Shipping inconsistencies will be virtually non-existent with everything openly available.The prevalent issue common to all these challenges, as you might have noticed, is a lack of trust. Blockchain has presented them with the means to guarantee an acceptable level of trust for business to flow without reservation.

Initial coin offering

The Galaxy eSolutions token GES is going to be offered up for purchase at a cost of 1 ETH for 10,000 GES, or 0.0001 ETH per token. Not only will it have valuable application within the ecosystem but will be a part of their value-protection mechanism. This mechanism will make use of buy-back and burn programs that are designed to support the value of each token purchased.A hard-cap of 300M tokens to be supplied with any unsold tokens burned.You will be eligible for various token purchase bonuses depending on the quantity of your purchase. The GES tokens will be available for purchase up until March 31st at 12,00 UTC.

The Team

• Yuen Wong, CEO, and Co-Founder Has a successful history as an entrepreneur and business developer, specializing in e-commerce.
• Joe Chan, Chief Technology Officer His expertise in coding, technical engineering, database and online infrastructure applies his skills to generate data-driven strategies and results.
• Erik Hohmann, Chief Marketing Officer His wide range of expertise in global outreach, social media, digital marketing, PR, and communication enables him to spearhead the group’s globally penetrative campaigns as well as manage their digital projects.
• Louis Tang, Financial and Investment Committee Advisor As a former Group Finance Director at a Fortune 250 company, he brings a wealth of experience and insight to the team.

Website: https://galaxy-esolutions.com
ANN Thread: https://bitcointalk.org/index.php?topic=2715023.0
Whitepaper: http://whitepaper.galaxy-esolutions.com/GES_Business_Deck_Full_Version_EN.pdf
Medium: https://medium.com/@GalaxyeSolution