Introduction: Current state of e-commerce infrastructure
The euphoric feeling accompanied with being able to add new items to one's cart is second to none. I can relate, and i bet you can too! The joy of shopping remains unparalleled, especially as the new wave of digitisation brought about an added plethora of possibilities summed up in one word : e-commerce. The internet has made it possible for buyers to easily access a host of networks once a need has to be met, exposing them to a wide range of alternatives to explore and select the best option that suits the said need.
Though eclectic in nature, it is an inherent trait of man to stick to a particular store or brand, especially it if it matches his tastes, and it is this loyalty that often becomes an undoing .Centralised e-commerce platforms are often culpable of abusing user data, often posing low privacy protection, poor security, and biased recommendations; but that's not even as bad as it gets. Customers are left to suffer the financial constraints imposed by third party payment processors such as PayPal, Payoneer etc as well as incurred costs of centralised server maintenances to mention a few.
In more recent times, we have seen several attempts to integrate the disruptive blockchain technology in order to arrest the aforementioned shortcomings in the industry, although there has been glaring improvements thus far, this concept isn't entirely devoid of bottlenecks. Here are some of them:
Blockchain applications, dApp and cryptocurrencies are synonymous to ambiguity and complexity to the non tech-inclined minds.
Cryptocurrencies are often regarded as a means of value storage. Many prefer to hold, hoping to cash-in on value increase, rather than utility purposes.
Whilst payment processors such as PayPal are known and utilised worldwide, only a tiny fraction of the world uses cryptocurrencies.
Mining cryptocurrencies requires expensive supercomputers with great computational and processing power, as well as constant electricity supply. The cost implication of this means that only those with the financial prowess can carry out mining activities.
For an industry that is expected to surpass $4 trillion in revenue by 2020, the current state is indeed abysmal, to say the least; and although the blockchain emerges with a glimmer of hope, there hasn't been enough fireworks to lighten an industry almost overshadowed by bottlenecks.
It's not time to lose sleep over all that however, as that was merely a stroll down memory lane !. The e-commerce industry has marched on to an era characterised by simplicity, convenience, efficiency and utility without compromising on security. At this point, permit me to introduce to you, your gateway to that much desired freedom lifestyle, PLAZA's Total bCommerce.
Before we embark on this rollercoaster ride, let us briefly watch an introductory video from Plaza's youtube channel.
Enjoy shopping on the go with Total bCommerce
Here are some features that sets Plaza apart from alternatives in a fiercely competitive industry.
Fully integrated unbiased metasearch
The Plazachatbot is a search assistant that helps users navigate through available options, allowing them seamless access to bestsellers in an unprejudiced and transparent manner.
High private protection and security
As previously stated, many e-commerce platforms engage in commoditisation of user's information, exchange them for money to email marketers etc without consent from owners. Plaza ensures user's data and payment information remains close to their chest, so they do not leave unnecessary bootprints after transactions.
User friendly interface available on mobile and desktop apps
Multi-currency compatible, simple interface wallet
The Plazawallet similarly boasts an awesome interface for users to easy access their funds. One standout feature of the Plazawallet is its support for multiple currencies, this feature is particularly useful considering the fact that users may wish to adopt external payment processors where possible. When it comes to e-wallets however, interface remains secondary, as long as security of user's funds remains of immeasurable importance, and it is owing to this that Plaza adopts the best possible means of storing crypto - hardware or cold storage through it's own PlazaConcierge IOT device .
A reliable personal assistant to meet your needs!
Plazacard: Bridging the gap between tradition banking systems
Responsive chatbot and customer service personnels to resolve issues
Often times than not, users encounter problems when carrying out shopping activities and unlike regular real life malls, complaint resolution takes a bit more time to process, for the majority of platforms. Plaza stands out however, understanding the overwhelming effect of quick complaint resolution on customer's confidence and loyalty. In line with this, Plaza develops a fully automated and responsive chatbot to proffer quick solutions while more complex ones are left to customer service personnels who are always on deck to offer assistance.
Curbing the effects of price volatility through a fiat-backed dual token system
- Zero transaction costs
- Stable
- Easily tradeable to other currencies
- Backed by reserved tokens
- Minted when required, burned on redemption.
Plaza's underlying architecture/Technical overview
Below is a pictorial overview of the various layers forming the Plaza ecosystem. For an in-depth technical analysis, refer to pages 21&22 of the whitepaper
Practical Use Case
Kate is a regular online shopper who has had her own fair share of the excessive fees imposed by payment processors. She is fed up, to say the least !. Maybe she might have put up with it if it ended there, but no, her email was made abode to all sorts of intrusive, annoying targeted ads after checking certain items.
She eventually gave up on online shopping, deciding to stick to the shopping malls within the vicinity. That decision didn't last for long though, as she was introduced to Total bCommerce by her friend and ever since then, it has been blissful shopping for Kate .
Final thoughts- The future of e-commerce with Plaza
The integration of the promising blockchain technology marked the dawn of a new era in e-commerce. For the first time, users are fully assured of total privacy and security, thanks to the decentralised characteristic of this disruptive technology.
Yet again, the blockchain technology is merely a catalyst as far as the industry is concerned, needing a reaction to occur so that it can take it's toll. The resulting solution from the combination with Plaza is everything the industry has longed for. We cannot but hope that Plaza's solution will act as a base rock for other potentials in the coming years. The future is now, embrace it !.
Blockchain-based commercial real estate platform AgentMile signs MOU with Plaza
Decentralised gambling project U Run It teams up with MerchantChain dev Plaza
New business relationships help PLAZA token sales to continue to exceed expectations
Plaza Website
Plaza Whitepaper
Plaza Telegram
Plaza Deep-dive docs
Plaza Yellowpaper
Feel free to ask any questions concerning this project in the comment section below.
All unsourced images were culled from the project's whitepaper
BountyOx username: danielwrites
I so much love the plaza card feature now I can now carry out shopping activities using my cryprocurrency asset, the plaza project would really expand the use of blockchain technology in our economy today
The introduction of Plaza will mark a new era in the world of e-commerce.
I'm really looking forward to owning my personal Plaza Card.
Amazing review mate
Everyone is on the edge of their seats for more practical use and mainstream adoption of cryptocurrencies.
It is a joy to see what plaza offers, most especially with the features of its card. Nice project I must say
Plaza will dutifully redefine e-commerce. As an ardent online shopper, will surely follow the progress of this project closely . Nicely written !