A DECENTRALIZED PAYMENT SYSTEM FOR E-COMMERCE

Globally , internet technology has been improving rapidly. This has brought with it a lot of opportunities in all spheres of life. Economically, socially, and culturally, the internet continues to greatly impact on nations, communities, institutions, and the individual. Today we continue to embrace new ideas like e-governance, e-learning, e-banking, and of course, e-commerce, among others. Lots of opportunities are being created, particularly in the aspect of industrial innovation. 

The development of the ecommerce platforms like Amazon, Alibaba, and the likes, has tremendously enhanced the global trading activities. However, as this market is blooming, a lot of challenges have been unraveled. Some of which are fraudulent activities, security threat, centralization, and the likes.

All these calls for improvement in the market, and a lot of platforms have been created to solve the problems, but they are not adequate and effective enough. They have not really been able to unlock and implement many of the capabilities of the ecommerce. 

The problems leads to the invention of a blockchain platform called ARAW.

ARAW is an ecosystem with decentralized payment, based on Ethereum Blockchain, which seeks to increase the implementation of blockchain in everyday life around the world. ARAW IS the first company in the world to combine the benefits of e-Commerce and payments industries; to provide end-product solutions for e-Commerce, Cryptocurrency Touch & Pay cards, online cryptocurrency payment and unified reward system on Ethereum Blockchain based on the ARAW token. The purpose of the ARAW token is to be a part of everyday online shopping.

The main goal of the ARAW token is to build the Decentralised Payment Ecosystem for E-Commerce to increase the Blockchain adoption for regular people across the world. The ARAW token ecosystem offers unified reward system which any service-providing entities can partake in. This allows virtually any company to further incentive consumption of their service as they provide real value via token distribution and expand their previously limited market of loyalty-reward consumers to the next level.

The Araw e-marketplace leverages smart contracts to make the process of exchanging goods with ARAW token fast, secure and add trust in the system. It generates secure escrow for two transacting parties. Through this method they are given a money–back guarantee for buyers if the product turns out to be substandard and for the seller, it ensures that the fund for the product they placed on the marketplace is securely transferred to them. The distributed ledger system keeps funds secure and prevents any transaction participant from having control over the funds until independent delivery services confirms that product is successfully delivered to the buyer using external oracle. If the buyer is satisfied with the quality of product delivered, the payment is transferred to the seller and the share of payment that is owed to the delivery service will also be transferred.

The Ethereum blockchain makes transactions between two individual possible without any need for an intermediary. This in turn reduces the cost of management and business transactions overall. When customers make purchase using the ARAW tokens, these tokens are stored in the secure escrow until the transaction has been completed from both the parties. Merchants can set preferences to exchange ARAW tokens with fiat currency during this transaction period to protect against volatility of the market.

The ARAW token platform enables peer-topeer transaction to give users the chance to engage in direct exchange of goods and services. This enables free trade between two parties anywhere in the world. A seller can sell directly to a buyer across the world without the usual services of middlemen or going through different currency conversions and exchange rate fluctuations.

THE TOKEN SYSTEM

The ARAW token is programmed to adopt the security guidelines and ease of access of the ERC20. The ARAW Tokens are required for all the transactions on the ARAW token platform and represents the reward point for all participating customers or ARAW token holders. For every transaction made on ARAW token platform, be it issuance, transfer or exchange, the initiator of the transaction will pay a small fee for using the ARAW token smart contracts. All transactions in e-commerce marketplace can be carried out with the ARAW token, which must be transferred through or held in an ERC20 compatible wallet. ARAW tokens act as the legal tender for trading on the platform. It can be used to pay for goods or to make settlements. It can as well be used to certify that a particular deal has been completed.

Ticker: ARAW

Token type: ERC20

ICO token price: 1 ARAW = $0.01

Total tokens: 5,000,000,000

Available for token sale: 3,500,000,000 (70%)

Whitelist: YES (15 May – 30 June)

Know Your Customer (KYC): YES Pre-sale

start date: 1 JULY

Soft cap: 5,000,000 USD

Hard cap: 25,000,000 USD

Accepts: ETH

THE ROADMAP.

THE TEAM MEMBERS.

OFFICIAL LINKS.

Official Website: https://arawtoken.io

Whitepaper: https://arawtoken.io/assets/araw_whitepaper_english.pdf?v1.0

Telegram: https://t.me/ArawTokenOfficial

ANN Thread: https://bitcointalk.org/index.php?topic=3497194.0

Twitter: https://twitter.com/arawtoken

LinkedIn: https://www.linkedin.com/company/arawtoken

ABOUT THE AUTHOR

USERNAME: ETSU

LINK : https://bitcointalk.org/index.php?action=profile;u=196732

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Idrix

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Comments: 0Publics: 97Registration: 11-04-2018
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