RUNS

RUNS is a blockchain-based, decentralized XKU driven eCommerce platform. They are building a truly democratic platform that allows members to decide, create and buy or sell the experiences amongst themselves with platform acting as a facilitator. Blockchain builds digital trust amongst members for transactions.

Runs.com is the world’s first Blockchain based eCommerce platform, aims to resolve both current and future issues affecting eCommerce, targeting more than 2.5 billion people. Headquartered in Singapore with branches in New York and Bangalore, Runs.com is building a global community of people from 25 countries and 125 cities. It places the decision-making powers in their hands rather than the platform, with its decentralized nature.

Runs.com was founded by Giri Devanur, an Alumnus of Columbia University, winner of EY Entrepreneur of the year award in 2017, and CEO of AMERI100, a company that has successfully made its path to NASDAQ within just four years.

Runs.com will be disrupting traditional eCommerce platforms which use SKUs as the fundamental way to identify units. Moving away from the conventional SKUs, Runs.com has patented a new method of identification and tracking called XKU — ‘Experience Keeping Unit’. Runs.com XKUs will cover the 3-S parameters — Story, Source and Sustainability.

WHAT IS AN XKU?

An Experience Keeping Unit (XKU) is a product and service identification code for an item that helps track the item for inventory. It can be assigned to both physical and non-physical products in inventory.

Unlike SKUs whose code usually reveals a product’s details, such as color, size, style, price, manufacturer and brand, an XKU includes the basic elements of SKU and three S-factors- Story, Source, and Sustainability.

Each XKU has a unique experience attached to it and is secured on the Blockchain as a ledger entry.

E-commerce has become well acknowledged by entrepreneurs, consumers, companies and industries both local and international as one of the most powerful tool for penetrating new markets regardless of physical location.

E-commerce has been around since the mid 90s and still remains critical to businesses and customers. However, there is trouble in paradise, as eCommerce is left facing not one but multiple threats including scams, trust issues, and hacks attempting to gain consumers’ data in any way possible. With these issues, the only practical solutions that can effectively release eCommerce from the shackles holding it down remain the decentralized and disintermediated ones the blockchain affords.

Blockchain stands as the answer to the problem of opacity, security, and trust that dog the eCommerce industry. This revolutionary technology facilitates the immediate settlement of all issues and exchanges through smart contracts without requiring any human intervention. As thousands of data records are frequently lost or misplaced on centralized databases, giving rise to consumer concerns about the safety of their data, the decentralized nature of the blockchain ensures that there is no centralized point of failure or breach. This is a key feature of Runs.com ’s revolution of the eCommerce industry.

PROBLEM

The problem that was observed on the previous centralized SKU based ecommerce are like all the players of the ecommerce make use of the same single platform and get their transaction done for ecommerce on the same platform. Some key problems that arise are

  1. Commoditization: the sales happen only with price as reason. It is that only a price would be a driving factor that will push the sales.
  2. Transparency: the data is completely maintained in the same platform with a central storage which would give easy access for other participants in ecommerce to influence and compete.
  3. Centralization: the power is vested only to the platform and not to the players in ecommerce. So the governance and control would be with the platform rather than the other participants or players.
  4. Trust: there lack of verification for the information in case of authenticity, uniqueness, origin, ethical sourcing used, social significance of offerings, environmental offers etc.

SOLUTION
Transformation from centralized platform to decentralized platform and electronic (SKU) commerce to Experience (XKU) commerce.
Digital trust in this would encompass trust within the platform with regard to product information till the transaction that would happen within the platform.
XKU (experience keeping unit) which is typically an extension of SKU (Stock keeping unit) which has three main attributes i.e. story, source, and sustainability. This XKU will allow ledger entries to be codified on the blockchain

STRATEGY

XKU records and verifies story, source and sustainability on the public blockchain by using proof-of-stack mechanism. RUNS tokens will be used to give incentive to the person who will be verifying XKU and its upcoming transactions. XKU purchases will be done only through native utility token.

Roadmap

Q4
Dec 2017 – Incorporation

Q1
FEB 2018 quity round & pilot with CCD,PVR

MAR 2018
Smart contract Development and Audit

Q2
APRIL 2018
Presale

MAY 2018
Crowdsale

JULY 2018
Platform Launch

Q3
AUG 2018 XKU expansion beyond 3Cs

Q3
AUG 2019 Build 2.0 (Private/Permissioned)

Q1
MAR 2020 Build 3.0 (Public/
Permissionless

TEAM

Board of Directors

  1. James Yee
    Chairman
    35 yrs of IT leadership experience •
    CIO : Associated Bank, Union Bank, Pacific Stock Exchange •
    BS, Columbia University and MBA, St.John’s University •
  2. Tom Blinten
    Managing Partner/CEO,
    Panamax Capital
    Former Co-Head-Nomura Capital •
    BS(Math), NC state and Post-Grad work at NC State/Tulane University
  3. Giri Devanur
    President & CEO
    26 yrs of IT industry experience •
    Successfully completed NASDAQ IPO of AMRH •
    E&Y Entrepreneur of the year 2017 •
    Author – Nothing to NASDAQ
  4. Jee Cho
    VP – Technology Finance, Viacom
    20 yrs of IT Industry Experience •
    MS (Tech Management), Columbia University
  5. Nobuyuki Mokkoh
    Former Director, Marubeni America corporation
    30 yrs leadership experience – Corporate Banking •
    B.A. (Business & Commerce), Keio University, Tokyo. •

Executive Leadership

  1. Giri Devanur
    President & CEO
    26 yrs of IT industry experience •
    Successfully completed NASDAQ IPO of AMRH •
    E&Y Entrepreneur of the year 2017
    Author – Nothing to NASDAQ
  2. Dr. Artit Wangperawong
    Chief Technology Officer
    AI, IT & Nanotech Evangelist •
    Ph.D., M.S. and B.S. in Engineering from Stanford University •
  3. Carlos Fernandez
    Chief Growth Officer
    20 yrs of IT Industry Experience •
    M&A – Acquired 8 companies for AMRH •
    MS in Technology Management from Columbia University •
  4. Sandesh Nanjundappa
    Chief Digital Officer
    23 yrs of experience in busines and technology •
    Former Director Marketing & Tech at Ameri100 •
    BS, University of Mysore and Exec Ed, Columbia University •
  5. Avi Jain
    Senior Vice President, Finance
    6 years of global experience in Investment Banking •
    Former VP at Nomura Securities NY •
    MBA, IIM Calcutta and B.Tech, IIT Kharagpur •

Advisory Board

  1. Reuben D’Souza (Chairman)
    Principal Managing Partner, RD Data Solutions
    20 years expertise in IT Services •
    SAP ERP consulting services for Fortune 500 companies •
    Accounting major from University of Texas •
  2. Anthony Robins
    General Partner, RoundOak Equity
    Luxury Industry Specialist •
    MS from Tulane University •
  3. Anu Rangachar
    Consultant, International Program , Mumbai Film Festival
    12 yrs in the Film- Festival Industry
    Former Program Director-Mumbai Film Festival •
    MS, Johns Hopkins University, Maryland •
  4. Raghu Murali
    Founder, CEO and Chairman, Thorro
    Founder of Thorro Learning Inc. •
    Ex McKinsey Consultant •
    PhD from Georgia Tech •
  5. Jessica Li
    Capital Markets Summer Analyst, Morgan Stanley
    Former Technology intern at Charles Schwab •
    Economics and CS, Honors Candidate at Harvard University

CONCLUSION

RUNS helps consumers make the best decision when buying a commodity based on user experience (XKU) rather than falling prey to a bias system, influencing customers choice via the defunct electronic commerce, best seen as an SKU (Stock Keeping Unit) : leaving the consumer with little or no choice of what to buy.

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boscoarinze

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