Buying.com’s Prime Protocol: Introducing iDistribute PART III
Last week we took a look at Buying.com’s Prime Protocol and one of its three main products called WeBuy. Now, let’s go a little deeper and get to know iDistribute — the social group buying product making bulk pricing available to everyone.
Join the Buying.com Telegram channel for the latest updates on what the team is up to at this exciting time in our roadmap.
Recapping the Prime Protocol
Buying.com’s innovative protocol is the first of its kind designed to level the playing field in e-commerce. Through a series of decentralized products, small sellers that typically lose out against big-box retailers, will finally have an equal opportunity to succeed.
As it exists now, the e-commerce industry is controlled by established giants like Amazon and Walmart.com, with whom small businesses typically can’t compete. But with Buying.com’s decentralized system made up of three main e-commerce products — WeBuy, iDistribute and Genesis — both small sellers and consumers now have more opportunity in the highly competitive market.
Last week we discussed WeBuy, one of the main products in the prime protocol. Through social group buying, small businesses and consumers are finally given access to bulk prices for which they wouldn’t typically qualify. Now, let’s take a closer look at the second piece of the program known as iDistribute.
What is iDistribute?
iDistribute is Buying.com’s decentralized micro-distribution network and the second piece of the Prime Protocol. Working together with WeBuy (discussed in Part I) and Genesis, (the retailer-controlled inventory network to be discussed soon in Part III), iDistribute is changing the game for e-commerce. By utilizing the popular share-economy business model used by companies like Airbnb and Uber, iDistribute is introducing two groundbreaking innovations — turning spare personal spaces into distribution centers, and using everyday vehicles as delivery trucks.
Let’s break this down. A micro-distribution center, or sometimes termed micro-fulfillment center, is a small location that serves e-commerce or local store pickups. This is beneficial in that it allows retailers to leverage already existing stores to increase their online order efficiency and enable quick delivery. With iDistribute, Buying.com is harnessing the power of micro-fulfillment centers but putting it in the hands of ordinary people via a decentralized platform.
With iDistribute, any ordinary person or business that has spare space can opt to list their property and participate in the iDistribute network as a micro-distribution center. Similar to Airbnb but more expansive, these can include spaces like personal homes, garages, a business warehouse or store. Plus, by utilizing Buying.com’s own cryptocurrency, micro-distribution centers will have the option to receive payments in BUY tokens.
Also available within the iDistribute platform is the opportunity to list a personal vehicle and become a delivery driver. Even drivers already working for ride-sharing companies such as Uber or Lyft could leverage their trunk capacity for the delivery of goods and maximize their earning potential. And, just like the micro-distribution center owners, delivery personnel have the option to receive payment in BUY tokens.
How is iDistribute changing the landscape of e-commerce?
What’s great about iDistribute is that it opens up a wealth of job opportunities and secondary income to drivers, homeowners and businesses. Take storage centers for example. There are many storage centers nationwide with capacity to spare. These operators can now become distribution centers for Buying.com by opening their capacity to the network, maximizing their own profit while improving the Buying.com network’s location density.
In addition to its benefits for drivers or distribution center owners, iDistribute also significantly benefits both small businesses and the e-commerce industry as a whole. One of these ways is in solving what is arguably the biggest and most expensive problem in e-commerce — last mile delivery. This involves the movement of goods from a transportation hub or warehouse to their final delivery destination, typically a consumer’s doorstep. While this may seem like the easy part, the problem lies in the high delivery costs involved with this final leg of the trip — especially for small businesses.
Due to scale, big players like Amazon or Costco are able to give free delivery away to customers by charging a yearly fee. Small sellers on the other hand don’t have this option. As a result, they’re forced to charge higher shipping fees and potentially lose customers. But, by getting decentralized micro-distribution into every neighborhood, Buying.com is making last-mile delivery inexpensive for smaller sellers. There is no need to resort to fees because the last mile is covered at a more granular and inexpensive level.
Small sellers and consumers also benefit from route optimization. Entry windows, lousy weather, peak traffic hours, and sudden route disruptions can slow down deliveries considerably. But, along with Buying.com’s robust network of freelance drivers is a route optimization software that allows precise calculation and assignment of the most efficient routes for all deliveries. This makes last-mile delivery both reliable and affordable for small businesses.
In Conclusion
Along with WeBuy, the iDistribute product is serving a major role in changing the landscape of e-commerce. By innovating the micro-distribution model and allowing any spare space, home or vehicle to act as a fulfillment center or delivery truck, Buying.com is decentralizing e-commerce and leveling the playing field in an industry previously controlled only by a handful of dominant players.
Join the Buying.com Telegram channel for the latest updates on what the team is up to at this exciting time in our roadmap.
Website: https://www.buying.com
Telegram: https://t.me/buyingcom_announcements
Medium: https://medium.com/buying-com
