Jeanmarie Gabriel

Buying.com It’s the next generation Decentralized E-Commerce Platform that harnesses the power of distributed ledger technology, Real-time Logistics, E-Commerce and Cryptocurrency. Buying.com is being brought to world to better all consumers, manufacturers and retailers. Decentralization The project aims at decentralizing e-commerce operations in the following ways: Group Buying: Buyers in the Buying.com ecosystem can form buying groups to increase volume of purchases thereby creating bulk purchasing power and driving down costs. Hyperlocal Micro-Fulfillment: Just as anyone is allowed to convert their spare space into rentable space on AirBnB, any participant in Buying.com can now become a fulfillment partner by turning their spare garage space into a hyperlocal micro-fulfillment center. And similar to how Uber or Lyft enable every day to become delivery drivers, any person with a valid driver’s license and a good track record can qualify to do deliveries in the network. Blockchain The Buying.com system runs on the Algorand blockchain. This blockchain is known for its speed, fair consensus algorithms and scalability. The BUY token is developed as an Algorand Standard Asset, or ASA. In addition, to facilitate ease of trading on Decentralized Exchanges, a wrapped version of the token called WBUY has been developed that runs on the Ethereum blockchain. The tokens have passed security audits by Coinspect. The primary use case of the token is to help promote the BUY token is to encourage customer loyalty through the issuance of tokens as a reward for fulfillment orders placed. These rewards can be redeemed for goods and services purchased within the network. The blockchain is currently used to store rewards transactions in the form of immutable records.