The need for a platform using blockchain technology
A. Resolution of centralized structure and transparency problems
Because most of the online shopping platforms currently being serviced have a centralized structure, and platform users have no choice but to follow the unilateral operation method of the platform operating company, and most importantly, the settlement of the payment part is also managed by the platform operating company, even if there is a problem, the supplier cannot understand the exact details.
Because it handles everything centrally, it is nontransparent and runs the risk of manipulation. In addition, more centrally processed services means to increase authority and scope to control, and at the same time to incur a lot of cost. The development of blockchain platform is a solution that can solve these structural problems.
B. Credibility of brands and products
Some online shopping malls or brands manage and manipulate reviews, comments, and ratings through specialized companies for reputation management, and consumers may suffer damage without their knowledge. The LOTT platform, which is focusing on building trust with consumers, has the advantage that fraudulent users cannot manipulate data based on transparent nodes, and this inability to manipulate data is significant in that it can improve brand trust.
C. Improvement of service satisfaction
The blockchain-based LOTT platform has concerned about how to give optimal feedback to customers, and by introducing data storage through blockchain, data analysis through AI, and real-time response through chatbots, we want to improve customer’s satisfaction of using the platform and products. Data storage sharing technology using blockchain technology will accurately store consumer needs in blocks and find optimal answers to customer inquiries through AI analysis.
D. Compensation system for consumers
Until now, platforms such as online malls have been limited to consumer rewards such as points accumulation or discount benefits. LOTT is preparing to reward platform participants according to their contribution by introducing blockchain smart contract technology. We are designing a system in which participation can be automatically rewarded based on Lott tokens according to platform contributions from product purchases, live streaming participation, community participation, and social media activities.