Hello all cryptocurrency investor, welcome back to the ION blog. On this occasion, I will review a project called ApolloX that wants to disrupt the current e-commerce industry by presenting a fully decentralized market on blockchain and providing innovative solutions to overcome various problems.
ApolloX is a decentralized ecosystem that connects buyers and sellers around the world with efficiency, transparency, and trust. The ApolloX E-Commerce Ecosystem presents a peer to peer transaction model, complete shopping protection, data security, and minimal commissions.
The ApolloX platform wants to utilize blockchain technology to provide benefits to sellers and buyers in the e-commerce industry globally. Thanks to the presence of the ApolloX Protocol, merchants all over the world can easily create fully decentralized E-Commerce applications and services on the blockchain.
Check out the full review of the ApolloX project below.
Problems That ApolloX Wants to Solve in the E-Commerce Industry
In the last few decades, the e-commerce industry has proliferated, as many people have realized how easy it is to shop on e-commerce platforms online. E-Commerce makes shopping more practical and easy because there is no need to leave the house and the ordered items will arrive on their own.
Unfortunately, the e-commerce industry has so far been dominated by a centralized platform that causes various problems that are less profitable for sellers and buyers. Some of them are hidden prices, unfair evaluations, misuse of knowledge and many other things.
Problems caused by a centralized e-commerce platform:
High trust between traders and consumers. There are so many fraud cases that occur that cause concern for consumers when they want to enter the e-commerce market. Traders are charged a high enough fee to have their items listed on large e-commerce sites. There are hidden prices for promotions and advertisements that are centrally controlled, making traders’ profitability decrease. Many e-commerce platforms that take advantage of large numbers of sellers, this triggers sellers to increase the price of their products and ultimately harm buyers. Buyers do not have the management of their data. The existence of expensive intermediary costs for large e-commerce, such as transportation and storage costs.
The various problems above will not disappear as long as the e-commerce platform still adheres to a centralized system. Therefore, the creators of the ApolloX company genuinely believe that a decentralized market is a right choice for the future of e-commerce because it can solve various problems facing the industry.
Solutions Provided By ApolloX
To empower decentralization in the e-commerce industry, the ApolloX platform has solutions in the form of blockchain-based protocols.
ApolloX is currently developing a new system that cannot be trusted for seller and buyer transactions. The buyer does not need to know whom he is transacting with, because trust will soon be formed using the arbitration of the community and smart contracts, with zero costs. The platform hopes that in the future everyone can trade in the e-commerce market without worry.
ApolloX provides transparent data access control to traders and buyers. Users have complete control over who can see their data. Users can grant rights or sell them.
Decentralized E-Commerce ApolloX offers tokenization that harmonizes incentives between sellers and platforms, triggering healthy growth. ApolloX will deduct all unnecessary costs and intermediaries, making product prices and costs lower.
This solution will increase seller profits and reduce product prices by up to 40% for buyers.
The ApolloX platform not only benefits traders and sellers, but more people from the community can help advertisers, logistics, manufacturers and other e-commerce industry players.
This allows traders to manage affiliate sales and referral traffic. Traders can review advertisements from all channels and publishers will be paid directly by traders. This eliminates the roles and commissions for third parties.
Oracle and Data Protocol
Trusted IO data between third-party applications and the Apollo X platform. This serves to generate external data about issues such as advertisements, personal info, and provisions. Which is useful to strengthen the value of data on the ApolloX platform.
Transfer of payments between the seller and the buyer in peer to peer and support reasonable contracts (guarantee of delivery time), prevent fraud and accelerate turnover.
Serves to resolve disputes between traders and buyers efficiently and transparently through challenges or bets with prizes.
On the ApolloX platform, you will not find a false reputation, because the platform has a trusted review system for sellers and buyers. For traders who are proven to give fake and misleading reviews, they will be given a penalty by losing some tokens and cannot review various merchandise.
On the other hand, it rewards honest reviews.
All members of the ApolloX platform can contribute their time and expertise to creating their protocols, of course with attractive rewards in the form of ApolloX tokens. This helps serve and advance the ApolloX community.
ApolloX Use Cases
Decentralized markets built with the ApolloX protocol provide an unmatched and more optimal user experience.
An independent webshop that is supported by the ApolloX and blockchain networks provides traders with benefits in the form of institutional traffic and charging minimal fees.
Business services aimed at buyers and sellers, for example, shopping insurance markets and decentralized spending data exchanges.
Company Behind ApolloX
This platform was created by Apollo Box, a company that has more than 800 vendors and is based in Silicon Valley. This company has got full support and has some leading angel investors such as Hofan Group and Amino Capital.
ApolloX ICO Token
ApolloX creates its ERC-20 official currency called the APXT token. The APXT token serves to facilitate all transactions within the ApolloX ecosystem and encourage positive contributions from the community.
How to produce and spend APXT tokens in the ApolloX ecosystem:
Get APXT tokens by opening an account and connecting social networks
Use APXT tokens to pay for services such as search rankings and advertisements for merchants
Premium members holding APXT tokens will get a discount when purchasing and free services
Users can get APXT tokens from affiliate programs and prizes
The ICO APXT token starts on 1 October – 15 October 2018. The price of 1 APXT token is 0.0055 USD. The platform accepts the purchase of APXT tokens using fiat and ETH. The company’s soft cap is 6,000,000 USD and a hard cap of 14,000,000 USD.
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