Bitboost and the revolution of E-commerce

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That is why when I came across Bitboost I thought that this was just another way of 'repackaging the wheel'. Many companies are jumping on the Blockchain train and I wondered why should Blockchain be incorporated in E-commerce. As such, I start reading through the whitepaper. I can say that if I were to start a business selling items, Bitboost's platform, the Block is definitely the system that I would use.

Potential for an international audience

One of the most appealing features of this is its potential to reach a large customer base. When I started selling education software, one of the biggest problems I face is my customer base. You see, the platform I used only limited my audience to people who speak and read a particular language and it was not English. Granted, the platform had a wide audience, but it does not reach other countries whom may be interested.

The use of the Block has the potential to reach customers in other countries. It only requires one to have a smartphone to access the application. This makes it easy for people to buy and sell any items easily. However, what I have stated thus far is basically what most E-commerce platforms can do. But the next advantage in my opinion is what makes the Block a true game changer.

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Ease of use and cheaper fees

As mentioned earlier that the Block can be used by anyone with a smartphone, but what is more appealing is the use of both FIAT and cryptocurrencies to make purchases. This eliminates the need for currency to be exchanged to make certain purchases. Even with services such as Paypal and credit card services, such services may not be available in certain countries. Paypal for example is not available in countries such as Myanmar and other 28 countries. However, the Block works with anyone with a Smartphone and thus makes certain services and goods more readily available to others and is only limited with the presence of Internet.

Furthermore, the use of a particular country's currency is subjected to fluctuation and transaction fees. This can be offset with the use of certain cryptocurrency and that will likely mitigate the cost incurred by the customers. In addition, cost can be reduced with the use of the Ethereum network. While more established platforms such as Taobao and Lazada would require large server farms to keep the business going and cost the company millions, the use of the Ehtereum network and smart contracts can be implemented, saving the sellers in fees as well as other cost that may incur.

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If the business is cheaper to run, this is beneficial for the customers as the sellers can lower the price of their goods and services to remain even more competitive compared to E-commerce platforms.

Accuracy of information

I have friends who were forced to refund and return items due to the customer not receiving their purchases. That would be all good, except that in half those situations, the purchases just arrives late in the mail. This incurs quite a large amount of loss. However, since the Block is built with the use of Blockchain technology, information is readily available for both the buyer and the seller. This helps avoid any unnecessary refunds. In addition, the use of an arbitration system would help mediate any disputes that may incur.

Conclusion

All in all, I am excited to use Bitboost and the Block in my future online platform. With the advantages of the Blockchain as well as the services offered by the Block, and not to mention the cheaper fees, I am sure this would overtake many of the major E-commerce platforms in the coming days.

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This article is written for the following contest

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