For most of history, humans have used commodity currency. Fiat currency is a more recent development, first used around 1000 years ago, and today it is the dominant form of money. But this may not be the end of monetary history.Cryptocurrency is neither commodity money nor fiat money it is a new kind of money. Cryptocurrencies are used primarily outside existing banking and governmental institutions and are exchanged over the Internet. While these alternative, decentralized modesof exchange are in the early stages of development, they have the unique potential to challenge existing systems of currency and payments. As of December 2017 total market capitalization of cryptocurrencies is bigger than 600 billion USD and record highdaily volume is larger than 50 billion USD.According to latest statistics data, the current number of cryptocurrency users isestimated to be around 22 million. Thus the utilization of cryptocurrency becomes an important matter of concern.
Can Cryptocurrency Be Used In Day To Day Life? As more and biggercorporations and retail marketersare accepting cryptocurrency as a mode of payment in exchange for goods and services. Those who have bitcoins or altcoins still cannot use them in day to day life. The major objective of this ICOis to create a retail ecommerce marketplace where buyers and sellers can commence trading activities of goods and services for payments in both fiat and cryptocurrency. The global retail ecommerce, one of the largest consumer markets in the world, is forecasted to reach 4.5 trillion usd by 2021.
Total global retail sales in 2020 are projected to amount to 27.73 trillion U.S. dollars.
The main issues faced by business owners when getting into the global market are as follows:
- Absenceof consumer’s trust in an unknown sellerThe consumer prefers verified sellers who offer goods of confirmed quality, while the unknown sellers with no trust have to compete withthem;
- High costs at the current platforms and various charges of payment systems.The current platforms withhold a considerable part of the cost, let alone payment system and conversion charges, transaction fees and taxes.
- Absenceof profitable “online sales pitch” for products. Each purchase, especially the one made online, is based on manycriteria’s. The lack of the product details, standards, superb-qualityphotos, video overviews and consumer reviews negatively impact sales;
- Absence of product description. Sellers are not able to translate theproduct descriptionsandfeatures taking into consideration the specificity of variouscountries which impacts the launch to the international market.
- Competition with GlobalCompanies.International companies have a hugerange of tools for marketing quality products acrossthe globe at theirdisposal,which local manufacturers and sellers do not haveaccess to,making it impossible for them to go world-wide;
- CashInsufficiency.Businesses attain money from sales only after a certainperiod of time, and increasing sales without factoring this into theequation will sooner or later prove to be an impossibleeffort.
- Absenceof Customer Support24x7.Selling your productsglobally means being able to keepthebuyer-seller feed-back line open at all times in order to be able to assist customers in various time zones —and the absenceof live customer support makes communication much less efficient;
Absenceof appropriate “Online Sales Pitch”
Because of the lack of skilled presentation, the consumer cannot get aclear overview of a product and as a outcome declines the purchase;
Absenceof Honest Reviews.Without any way to confirm the authenticity of reviews posted on custom-madesites of online stores, consumers are unable to form a true-to-life impressionabout the item;
A great deal of unique products made manufacturers hasno adequate descriptions or photos, which hampers the search of the desired product. Besides,many good-quality products of manufacturers cannot be purchased onlineat all; Absenceof assurance.Many online stores offer products on an upfront fee basis, but not allconsumers areready to risk sending money to an unknown online store which can turn out to bea short-lived website.
Under conditions of global economic expansion, the online retail is gradually taking itsshare of the international market of retail and enlarging the number of e-commerceplatforms users both among consumers and among sellers.The global e-commerce is getting a hike, with the turnoverof $2.2 trillion expected by 2018. Rate of increase is 20%.
Each year the number of people who regularly shop online keeps expanding. According tothe Global E-commerce Report marketing study, the number of online shopper’ sincreases annually by an average of 16% and now it amounts to 1.66 billion globally.
There are more than 1.5 billion consumers of online marketplacesin theworld.The size of the global e-commerce amounts to trillions of dollars annually. Theleaders in expenditure are China, USA, Great Britain and Japan.The huge volume of the global market stimulates sellers to enterthe international platforms. Marketplace, help to solve this issue and offer’sa lot of benefits both for sellers and for consumers.Though online marketplace hasalready caught on among sellers it is stillexpensive for small-scale manufactures and sellers to set up a business there:
Blanket fees of the platform and sale charges eat off a considerable part of the sellers’ receipts;
- Applying other formal procedures is crucial for the start of trade;
- Expenses for the registration and to establish the business in the country where the platform is located in and the costs of this kind are typical for Chinese marketplaces;
- Marketing and advertising expense which isnecessary for traffic building.
- Additional fees of the payment systems which marketplace works with (besides acquiring payment systems);
Three main factors which online consumers pay attention to:
- 70% of consumers named the price as the main criterion for selection of products inonline stores;
- 80% of consumers give importance to the delivery cost and speed;
- 71% of consumers take into account sales and promotional offers, when purchasing;
According to the forecast of aresearch agency, the market share ofe-commerce companies in global retail trade is expected to increase and will havereached 15% by 2021. Thus, e-commerce is exhibiting considerable impact on thedevelopment of global trade.
According to the research conductedthe payment system which provides worldwide payments for e-commerce market leaders, 41% of the companies presented at morethan one platform, get the yearly revenue equal to more than $100 thousand, whileonly 17% of companies operating at one platform achieve similar results.The main criteria for marketplace selection:
- 24/7 Support.
- Huge amount of traffic;
- Focus on quality items;
- Simple and reasonable rules;
Storweey is a platform created for buyers and sellers all over the world. With an online store, any seller is able to create their own account to sell their goods and services, while making use of the platform’s wide range of features for a minimal fee.Storweey integrates all the necessary tools for starting the trade and promoting the items to other countries’ markets. This is useful not only for first-time entrepreneur and start-ups. An easy-to-use platform allows to create an online account and manage it without additional expenses and staff.
Our service offers great opportunities for self-employed entrepreneurs, small-scale to medium manufacturers, retailers family businesses and makers of handmade crafts, including a selection of tools for direct customer feedback, bookkeeping, sales analysis, advertising and promotion, as well as a convenient, user-friendly interface.Oneof the main features of Storweeyis the use of block chain technology, which allows to make the platform transparent, open and as safe as possible for both transaction parties, reduction of transaction costs and business costs, and simplification of the purchase process.Decentralization, globalization and the opportunities presented by the use of cryptocurrency in the project are our competitive advantages over other business solutions existing in the market today.
Main advantages of the Storweey platform:
- Extensive and easy-to-use service;
- Low fees;
- Payment in popular cryptocurrencies (BTC, ETH, LTC etc.);
- Low transaction costs;
- Precise sales analysis;
- Tools for consumer communication and financial reporting;
- Advertising support for your business;
- Transparent and decentralized review system;
- STWYtoken payment for goods and the platform services at special price;
- International markets access;
The key part in the system is assigned to token.
Paying for a purchase in tokens the customer may count on the best offer. The sellers’ need to pay the fees and other platform services in STWYwill make hard basis for stable condition of token value.
During pre-sale and ICO stages, the participants will be able to acquire STWYtokens with a bonus. As a reward to the early participants, the various types of bonuses are structured according to the day when the tokens are procured by them.
The funds accumulated from contributions of participants throughtoken sales shall be used in the development of STWYtokens and platform. In the course of the developing stages of Storweey when the first tokens start selling, the accrued funds would promptly be allocated and assigned/put to use in order to make the Storweey platform stronger. The contributions received from supporters go a long way in strengthening Storweey platform and therefore shall be invested into Storweey and its supportive community. We shall grow from strength to strength thereby building a useful and valuable tool that shall challenge the status quo and usher in significant changes to the Global E Commerce platform in various Countries.
To find more relevant details of the Storweey project please follow the following links:
The bitcointalk name: Aray80