Tanglefy is an Open-source Peer-to-Peer eCommerce Project Powered by IOTA
It’s been about eight months since I have discovered IOTA and the Tangle. Since then I created the IOTA Physical Coin project on Kickstarter and Tanglefy. We have launched Tanglefy because IOTA is built on top of the Tangle, which allows peer-to-peer micro-transactions to be secure and fee-less.
Tanglefy is an open-source eCommerce powered by IOTA and the Tangle. We believe that open-sourcing our project will open the opportunity to engage the community in what’s to become an amazing eCommerce platform.
What’s the benefits of Open-source?
Open Source software (OSS) is crowd-sourced.
OSS is supported by the community of developers.
OSS is transparent and builds trust.
OSS‘s code is often more secure because it is much more thoroughly reviewed and vetted by the community.
How Tanglefy will change the eCommerce?
In today’s eCommerce platforms, like Amazon, eBay and Alibaba; there are a list of fees that most vendors don’t even take the time to understand, and they’re not to be blamed since most people would only get confused.
Amazon for example, has a base vendor fee cost of 17% plus surcharges, which decreases the vendor’s profitability. These high fee charges are due to third party companies involved in the processing of payments, like VISA and Master Card for example.
Tanglefy will use IOTA, which allows secure and fee-less transactions. Tanglefy has set a base fixed cost to use the platform of 5% for vendors. We describe in detail about the fees in our pre-paper here: https://docs.google.com/document/d/1awpiNEcL6UG3gjkeW6p4ot2ZfTFjxngi8g3h8GZqVxY
What we are currently working on?
We are currently working on a Payment Gateway where payments can be split into two. This will allow multiple vendors to start selling on Tanglefy. Since our project is open-source, you can see our progress and also contribute to its progress on github: https://github.com/raafaell/Tanglefy
The Payment Gateway will allow a buyer to pay for products in cart by simply using their IOTA Wallet. The payment will be made by a simple, scan, pay and receive process.
To learn more about Tanglefy, please be sure to read our pre-paper here and if you would like to contribute to the project, feel free to visit https://www.tanglefy.com and purchase anything on it using IOTA. You may also wish to contribute in the development of Tanglefy.
Thanks for reading. :)