The ARAW Token Ecosystem Explained
The Araw Ecosystem was carefully designed from the beginning as a supportive sphere in which users can be confident in their trades on the Blockchain. To capture a variety of users, we have provided an ecosystem platform that is scalable and effective, yet simple over the Ethereum Blockchain, where customers and brands can interact without restrictions in a dependable, trustless, and mutually beneficial manner.
Araw Pay will be an open widget to accept payments in ARAW tokens and can be used by any merchants anywhere online just like any other payment gateway providers. We aim to provide seamless Araw pay solutions in Araw mobile & web wallet, open API platform, and Araw e-commerce marketplace.
On-chain vs Off-chain Transactions: The Araw platform acts as a mediator between the raiden network to handle off-chain transactions & the crypto exchanges to manage on-chain transactions. The liquidity smart contract will be responsible for handling off-chain transactions in decentralized way.
Given our distributed ledger system, items for sale are gathered from different parts of the globe on the marketplace. Buyers and sellers from different parts of the world also come together in a peer-to-peer enabled environment for transactions. Users of the platform can thus have access to the entire list of all the offers available on the Araw marketplace. With our help and the Araw Platform, any shop owner is free to execute a single sale or build an enterprise level e-commerce platform.
The flexibility offered by our e-commerce marketplace gives users the freedom to choose what they want to do on the platform whether to buy or sell or get involved in the loyalty program and earn rewards.
We aim to meet the need of every consumer, every merchant and every business no matter their location through our distributed ledger system. Our e-commerce market place gives you instant access to the global audience, removes transaction overhead (management and fees) and ensures they are secure and frictionless through our Ethereum blockchain based ERC20 tokens and smart contract implementation.
There are two ways in which our participating retailers can interact with the Araw Ecosystem. These include through a smart contract that handles the liquidity of the ARAW token in the market or buying directly through the crypto-currency exchange. Another way is through the ARAW token Platform which maintains all the essential operations and controls relating to the purchases and sales of the ARAW tokens with fiat currency. Using this, sellers on the platform can choose to sell goods and services for ARAW tokens as well as distributing them with the Unified Reward System.
Extended support and software development tools to achieve a crypto-based reward program will be offered to clients using the ARAW token platform. Similarly, the platform offers legal and tax advice and provide technical support to all ARAW token distributors.
Araw Card — Touch & Pay
Araw — Touch & Pay card aims to enable customers to make micropayments at coffee shops, supermarkets and day-to-day online shopping. It contains radio-frequency identification (RFID) to communicate with card reader to enable contactless payments. With the release of Araw Card, we are expecting to raise adoption of the Araw platform by regular customers.
We are going to implement this solution in different phases.
Phase#1 Merchants accept Araw Card Payments using The Araw Card Reader Mobile App
We are aiming to implement this as our quick solution. This will enable any Merchant in the EU to accept payment in the ARAW token. Merchants will need to download Araw card reader App from Apple store or Google play store which will be able to communicate contactless with Araw card to do micro-payments or receive ARAW tokens. After this, we will be working towards other countries to comply with their jurisdiction to support ARAW token payments.
Phase#2 Merchants accept Araw Card Payments using standard Visa or MasterCard Readers
The ARAW token aims to integrate with Visa and MasterCard following our own mobile solution to ease the transactions for merchants and consumers globally. Customers will be able to use virtual Araw Card from their Araw mobile wallet for touch & pay micro-payments at their favourite retailers.
Phase#3 Merchants accepts Araw Card Payment using Araw Card Reader Hardware
Depending on the funds raised; we will be targeting to develop our own hardware to accept payments globally. We will be targeting this after ARAW token becomes a global cryptocurrency used by multiple countries. We expect increased adoption of Araw token with the introduction of hardware card reader.
We will aim to release another form of authorised paper to detail phase#2 and phase#3 by mid of 2019.
Open API Platform
With ARAW Token Open API Platform, users do not need to know any form of programming code or language to make use of the system. It is structured to be utilised out of the box.
Open APIs can be structured in various ways but the main takeaway of every API architecture is that API itself can readily be used and accessed by as many customers as possible from every part of the globe. Open API is an application-programming interface that gives the owner of a network the chance to allow people from different parts of the globe to be able to access the services like developers. It provides transparency to all users with the functionality of the system — unlike traditional private API’s companies typically use.
It is not necessary to be a participating member of the ARAW platform to make use of the ARAW token or offer the ARAW token as a reward. Our Open API ensures that merchants that are not ARAW platform customers will have access to and participate in different transactions on ARAW token platform. You can make payments, exchange and purchase ARAW tokens using our web wallets or use the ARAW token mobile app. These retailers can integrate their e-commerce stores into our system and maintain their apps using our API to offer redemption and receive payments. Similarly, their customers can use our wallet to purchase their goods and services using ARAW token . Should the service-providers of our API choose to, they can create their unique custom solutions to process transactions with ARAW tokens. Araw Platform Global Merchants E-Commerce Plug & Play Widget Technical APIs Araw Payment Gateway
Banking System Integration
With seamless banking system integrated in the Araw Platform, Customers will be able to buy ARAW tokens using linked bank accounts. They will also be able to exchange ARAW tokens with fiat and send cashback to linked accounts
Araw Mobile Wallet
The seamless integration of Araw Mobile Wallet with Banking and cryptocurrency Exchanges will enable Araw Platform users to;
Top-up ARAW Tokens with a click of a button
Send and Receive ARAW tokens
Exchange ARAW tokens with any other crypto currencies like ETH and BTC
Exchange ARAW Token with fiat currency and get cashback
The ARAW mobile wallet continuously connected to Cryptocurrency Exchanges maintains the live exchange rate of the ARAW token and other cryptocurrencies.
Cryptocurrency Exchanges Integration
Araw platform integration with cryptocurrency exchanges would allow users to exchange ARAW tokens with other cryptocurrencies (like ETH and BTC). Users of the platform can also convert from one cryptocurrency to the other and from cryptocurrency to fiat currency.
Ethereum Blockchain — Proof of Delivery & Service
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-to-peer 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.
Unified Reward System
With the various offerings of the ARAW Platform, we are set to unseal the current limitations found in traditional customer loyalty programmes and hasten the development of a more cooperative, unified, and competitive customer reward industry. We aim to replace the traditional restrictive reward points system used by typical commerce companies with a blockchain based dynamic currency that increases participation and interaction between customers and services. We have the unprecedented opportunity to unlock the full potential of rewards programmes by combining all sales entities — pooling together a limitless customer base and rewards on offer.
Consumer makes a purchase from Merchant-1 using fiat currency
- Transactions registered into Araw Platform
- Consumer rewarded an ARAW tokens
- Consumer redeems these ARAW tokens to purchase items from Merchant-2
- Transactions registered into Araw Platform
Please get in touch if you have any further questions on any of our below channels or comment below.