The current model for centralized marketplaces does not work. While these types of platforms have taken over the e-commerce industry, there are many times when the problems they cause outweigh the good that they do. This is especially true in an age where alternatives, such as decentralized marketplaces, exist. To understand why they cause such damage, we need to examine the route of these problems. Centralized marketplaces may be designed for many to use, but unfortunately, their actions only favour the few.
Centralized marketplaces are not being built with users in mind; their interests are not aligned with the general public. For instance, these marketplaces do not care about making sure that small business owners have access to the tools they need, or whether customers are being treated fairly. Issues like these are caused by an organizational and structural malfunction. Centralized marketplaces are run by people who have distanced themselves so far from the needs of the average user that they no longer recognise or even care about them anymore. This disconnection between users is furthered by the fact that the buyers and sellers are viewed as entirely separate entities. This is not the way to run a marketplace. While buyers and sellers may have different needs, they both need to be heard equally, and both groups are just as important as each other.
Under a centralized marketplace, buyers see no reward for using or engaging in the platform, and sellers see their profits portioned off due to the high fees they are forced to pay. However, this does not have to be the case. With a decentralized marketplace, the disconnection between buyers, sellers, and those who run the platform can be repaired. By using blockchain technology, ApolloX can provide inclusivity within its marketplace and build a thriving ecosystem of users who are cared for. The blockchain allows for an alignment in the interests of all parties, as its decentralized nature means that the importance of each user is recognised.
The economics of ApolloX allow for all interests to be aligned
ApolloX has created an economic model which rightfully incentivises user engagement, while also increasing the overall value of the platform. Users are made aware of their importance on the marketplace, and when they help to increase its value (even through small actions), they are rewarded. This creates a level of togetherness which centralized marketplaces are missing out on.
As an example, buyers on the marketplace can earn APXT tokens by simply setting up an account, filling in their address, and detailing some historical shopping information. As this data helps ApolloX to understand its audience and refine its service, users are rewarded. On centralized platforms users are never reimbursed for their efforts.
Sellers can earn additional APXT tokens too by having best-selling goods. ApolloX wants to encourage sellers to add their best products to the service as it helps to grow the interest of the platform as a whole. Sellers who achieve this are rewarded for their time and work.
Users have a say on big decisions
As ApolloX’s aim is to produce and maintain a thriving and impressive ecosystem, it is paramount that the average user is given the ability to vote on the actions of the platform. Decentralized marketplaces are not run solely by the highest levels of management; everybody gets the opportunity to make important decisions.
ApolloX protocol’s governance design can facilitate the use of large-scale voting. Community members can propose ideas or changes to the system and then cast a vote on what they deem to be best. This boosts the morale of the community as it shows users how valued their opinions are.
The act of voting, as well as the fact that both buyers and sellers being rewarded for their actions, is what separates the ApolloX decentralized marketplace from its competition. Centralized marketplaces have been focusing too heavily on mere profits, while entirely disregarding the need for a strong community. The rift between buyers, sellers, and upper-management is growing larger and larger on centralized platforms, and rather than do something about it, they are continuing to ignore it. ApolloX, on the other hand, is tackling this issue head-on by creating an community which is valued and genuinely appreciated.
