Sometimes you get a Holy S**t moment that really throws you for a loop.
Last night, I got that reading the @dstors White Paper. What was originally just an online store based on the Steem blockchain ends up being a lot more.
@dstors is a platform that is being erected on the Steem blockchain that will bring buyers and sellers together. This is very similar to what companies like Amazon or Etsy do.
However, their goal is not to be an ecommerce platform. In fact, their desire is to create the new "dcommerce" platform.
Their goal is two-fold based upon the present market.
Encourage the adoption of cryptocurrency as a means of commerce and not just a store of value.
Create an incentive platform whereby both buyers and sellers are rewarded for conducting business together.
The second one, by the way, is the Holy S**t moment.
@dstors logic is simple: ecommerce went as far as it is going to. There is little room for innovation based upon the existing structure. Something new has to be created and that "new" is cryptocurrency.
The basic essence of cryptocurrency (aka crypto-economics) is to provide incentive to individuals. On their platform, both buyers and sellers will be incentivized AFTER the transaction is complete. Ecommerce cannot do this. Once a transaction is completed, time to move onto the next one.
After the transaction is completed, both parties will be rewarded in STORS based upon a variety of criteria used to determine one's standing on their platform.
Following the flow chart mirrors almost all online transactions right up to the point of "transaction completed". I highlighted the area where @dstors is different in the blue box.
Now we see that area blown up and added to.
There is an immediate market for the STORS. One can opt to cash out using the Bitshares network or the coins can be used to get upvotes on one's posts on either Steem or Whaleshares. The first option means turning the STORS into any currency on the Bitshares network while the second one means converting it, via an upvote, into STEEM.
Holy S**t. Did you see how they included the "upvote economy" in all this?
In the white paper they gave an example of a $250 purchase earning 75 STORS which would be worth an upvote of about $45. Of course, this will depend upon the price of STEEM in USD but I like the example. Even if the upvote is not worth close to 20%, say it is 10%, that is above and beyond the transactions conducted.
Hence, the seller get a 10% bonus on top of whatever profit was in the deal. At the same time, the buyer gets 10% in addition to any discount already received.
And what did that cost @dstors? Nothing since it is all a part of the circulating ecosystem they are creating using the upvote which is part of the content/reward system inherent on Steem.
Can you imagine if Amazon gave 10% to both the buyer and seller on each purchase made? It would not take an advertising genius to promote that. The lack of feasibility shows the limitation that ecommerce has.
It now is time to open up dcommerce.
They are issuing 250M token, 21M which are available in the early stages. The above charts shows it.
There is a delegation program which requires a 6 month, continual commitment. They have different layers spelled out in the white paper which I suggest everyone give a going over.
Here is the link for the white paper.
This is a really exciting project. After reading the white paper, I delegated some SP to them. I think this is one of those breakthroughs that could really revolutionize the way things are done. I hope all take the time to read the white paper to get a better grasp upon what is planned by this development team.
I think the tagline on the front of the white paper about sums it up.
I have to give them credit, they are thinking big on this one.
If you found this article informative, please given an upvote and resteem.
Pictures taken from @dstors white paper which is linked in article.