Steem Setting It's Sights On Amazon? Online Shopping Coming To Steem!

in busy •  11 days ago

One of the biggest steps that is needed in the cryptocurrency world is for there to be commerce done using the currencies. Part of the evolution of Steem is going to see the addition of commerce to the Steem blockchain.

We all heard the question when talking to people about cryptocurrency: but what do I do with it after I get it?

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It looks like dStors is the answer.

dStors is a decentralized marketplace where individuals can set up a store that markets their product or service. This application uses both STEEM and SBD as a currency. All posts can either appear on one's own home page or in the marketplace.

In reading about this application, there are numerous ways to make money. This is helpful since so many Steemians need or would like to make a regular income from the blockchain. This could be a step in that direction.

dStors will have it's own token created using the SMT protocol. This will be the native coin used for different activities by merchants. One such task is that merchants can lease their space on their store to advertisers in an effort to earn more. The Decentralized Shopping Coin also helps one by either investing in the ecosystem (similar to Steem Power) or by putting it in an advertiser account and earning a percentage of that revenue.

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This sounds very similar to an Etsy or other online marketplaces. The real value is we are dealing with a DAO meaning there is no overseeing body. Those entities take a percentage of all transactions which cuts into the margins people get. People are also stuck paying either MC/Visa or PayPal a percentage for every transaction. On Steem, we know that does not exist.

I personally like the idea of moving the blockchain from a basic social media site to a business tool. Yes, I know there was some business conducted on here, but it was all Steem related. This is different. Here we see the opportunity that we will have products and services available that people purchase in their daily lives. Being able to switch some of the purchasing from the mainstream retailers or online marketplaces like Facebook is another step in the right direction. It is also making Steem more valuable.

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Another big advantage to this is the lack of tracking. We all know that Amazon and the other big tech companies track out every move. On dStors, what one purchases is not tracked. Merchants have no terms and conditions to adhere to. This mean we are seeing a truly free open marketplace that is fully decentralized. Without tracking, there is no selling of data nor are there pesky ads popping up.

There are a lot of others features that are laid out in their roadmap. I found a couple posts that I suggest everyone check out.

https://busy.org/@derangedvisions/introducing-dstors-a-new-way-to-utilize-your-steem-and-sbd

https://busy.org/@kaliju/dstors-and-how-the-future-of-international-p2p-trade-of-goods-on-steem-is-already-here-9e0cc260e5f28est

Obviously, there is a lot of work ahead of this team based upon their road map. To me, this is a very exciting project. Peer-to-Peer (P2P) business makes a lot of sense. The value of blockchain is that it eliminates centralized "middlemen" who take a cut of each transaction while also controlling the platform. With a DAO set up, none of this exists. The platform does nothing more than bring buyers and sellers together. The rest is up to the individuals participating.

I also feel the blockchain evolving in this manner is another healthy sign. To be a major player in the world of crypto-economics, transactions must take place. In other words, we need activity on the blockchain. Blogging and other social media related activities are terrific. So are exchange based transactions. However, adding in a marketplace component lifts the transactions to another level.

This is creating a streamline crypto-economic system. It is fairly easy to see how one could earn STEEM via the activity conducted on here and use said resource to pay for items that one's family needs. Here we see Steem helping families on both ends. Over time, we should see the costs of things rival or beat the larger entities since we are removing a number of transaction fees that they charge.

One final thought: think of the impact this has on all SMT created tokens. When that protocol is released, all tokens created are paired with STEEM on the internal exchange. This means that anything that appears on dStors can be purchased via SMT tokens with a quick swap to STEEM.

This certainly is something that bears watching.


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This is awesome. I can't wait to see all the different SMT's that come to fruition. This is another great idea and a great real world use case for crypto. This idea is not only big for the SMT and Steem economy but crypto as a whole. Great idea

We are on crypto-Forbes! Thank you for writing this piece @taskmaster4450. One thing that puts me at ease is the fact that you were able to see the direction we're taking clearly and didn't miss a thing when understanding dStors - that means a lot. However, the major addition to this project is our AirBnB-like experince that we will be offering for all to use. Please have a look here for additional information: https://steemit.com/dstors/@anutu/excited-dstors-the-future-is-here-how-dstors-will-bring-us-even-closer-together-trade-goods-services-and-travel-the-world

We're in this together, guys. Let's share the joys of our lives accordingly ❤️

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This is a fantastic idea. I really like the direction it is heading in.

I look forward to more updates and I will check out the link you provided.

One of the biggest projects to give Steem values.

About time! Thanks. Resteemed!

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This is very ambitios. Online shoping is a big deal. I hope these guys are serious and will deliver. Whish them luck :)

This is one of the most groundbreaking uses of the Steem blockchain I have seen suggested, the potential is huge to move Steem forward. One of the single biggest moans I hear is that people are put off because the rewards they earn are difficult to exchange back to something they can use to help them in real life. Being able to easily purchase goods through earnings adds an extra level to the Steem Blockchain - plus it enables additional earnings for artists who can sell the work they post about physically, music and video creators can sell their works and creatives will be able to sell all manor of unique items directly through the Steem blockchain.

It is an exciting project that will need a great deal of support to get it fully operational, I am more then happy to back this concept because I think it will enhance and grow my own investment in the Steem Blockchain.

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#thealliance #witness

I'm still kind of in shock that the price of steem continues to remain stagnant despite all the good on the horizon. As the old saying goes "buy the rumor sell the news"...one would think people would see this as a good entry point with all that is being developed that will utilize the steem blockchain.

dstors sounds like a great application and I look forward to seeing what it looks like 6 months from now, a year from now, etc.

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Well, people like mediocrity, BTC/ETH is fast food McDonalds solutions for the mainstream masses, STEEM is Broccoli

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The mainstream FUDsters are still at it. STEEM will be down, in my estimation, until they shut it off. I have a feeling they are going to do that once they are geared up for security tokens. Then Wall Street will want positive crypto spin.

Wow, this is really exciting stuff! I definitely want to learn more about this project, this is the first time I've heard about it. Thanks for sharing.

Interesting development.
Would it be a bit like eBay?

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It will have auction listing option, so, yes? :)

This sounds very similar to an Etsy or other online marketplaces. The real value is we are dealing with a DAO meaning there is no overseeing body. Those entities take a percentage of all transactions which cuts into the margins people get. People are also stuck paying either MC/Visa or PayPal a percentage for every transaction. On Steem, we know that does not exist.

There are no direct fees but witnesses currently take 10% of the inflation. That may have to change in the future. A lot depends on the future valuation of STEEM.

While this is great news and will surely follow this project as a great expansion of the ecosystem, we need to continue demonstrating outwards for Steem and SBD to become more relevant on exchanges. Specifically, we need an easier and more liquid fiat gateway to enable the exchange quicker because I want to accumulate Steem not sell it so if required to buy something I would like a service to make the exchange for me. I think this is what SBD is needed for so that merchants have stabilized prices in their offerings.

I have a pair of shoe that I would like to propose for sale on the shop, let me know what can be done?
Thanks in advance!

This post has been found valuable and upvoted by El surtidor

Exciting! Sounds good to me. :)

Is the market place is really out there and functioning ? Or just in the preliminary planning stage ?

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We are in talks wirt interested parties to inject capital into its development, but for now, there's a small demo that was launched for steemfest for you to try and set up your shop - but by no means is it final.

To listen to the audio version of this article click on the play image.

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This is great if you have Steem to burn.

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No, this is great if you want to earn like crazy. 😀 You WILL earn.

Would this be considered a good reason to power down and spend some of that Steem?

Thank you for your amazing write up about our project. I am glad that others are seeing the value that dStors will be bringing to the blockchain.

So many use cases, day bay day the ecosystem grows :)

Hi @taskmaster4450!

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Great to be on Steemit with these exciting times, @taskmaster4450. U & R.

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A main benefit of amazon is that you “trust” that they will send you the goods after you pay. How would that occur on steam, other than by reviews (like ebay). Would there be a dispute resolution mechanism or some escrow service?

Open Bazaar has set the precedent for decentralized shopping, especially with an escrow service. Best of luck here!

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Open Bazaar is for geeks :P They will also don't reward you you need to download their software. But it's cool - if you're selling, you should seek exposure on as many platforms as possible anyway.